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CFO Compliance and Operational Risk Specialist

Charlotte, North Carolina;

Job Description:

The Compliance and Operational Risk (“C&OR”) Specialist assists the C&OR officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
• Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
• Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
• Assists in remediating C&OR “owned” issues and control enhancements
• Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
• Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
• Assists with the development of risk metrics, monitors related performance and breach remediation

Overview:
Chief Financial Officer Compliance and Operational Risk (CFO COR) seeks to deliver effective independent compliance and operational risk oversight of the CFO Group, which is responsible for the overall financial management of our company, including managing the company’s capital, liquidity and earnings risks, publishing its financial statements and regulatory reports, as well as providing financial planning, analysis and support to all of the company’s Front Line Units (FLUs) and Control Functions (CFs). The selected candidate will execute coverage activities as detailed below to provide an independent risk point of view while validating that approaches and controls are properly designed, operating effectively, and compliant with regulatory and internal requirements. The role may provide opportunities to partner with teams across the company on efforts related to CFO and Corporate Treasury functions including capital, liquidity, global funding, data, technology, and regulatory reporting.


CFO COR drives responsible growth at Bank of America by developing our teammates, promoting a diverse and inclusive culture and approaching our work with intellectual curiosity and dispassionate objectivity. CFO COR delivers its mission through a steadfast commitment to its values: managing risk well; cultivating diversity of thought and valuing different perspectives and experiences; driving an inclusive culture that promotes learning, fosters relationships and creativity; developing talent, advancing careers and creating leaders within Global Risk Management and across the company.

Role Overview:
The CFO COR Specialist is responsible for executing activities to provide independent compliance and operational risk oversight of key CFO functions, including data management, regulatory reporting, and Corporate Treasury. 

The CFO COR Specialist assists in engaging stakeholders across Global Compliance and Operational Risk (GCOR), as well as other risk areas, to provide comprehensive oversight of CFO Group activities. This role assists in developing and maintaining a global coverage plan, which defines the scope and risk-based focus of CFO COR’s oversight activities. The CFO COR Specialist assists in preparing materials for regulatory exams, audits, and other inquiries, and may assist with preparation for FLU/CF, GCOR, and enterprise management and governance routines. 
 

Required Skills:

•    Bachelor’s Degree or equivalent experience in related discipline
•    3+ years of business and/or functional experience in finance, risk management, data management or related discipline
•    Ability to collaborate with peers and business partners globally

Desired Skills:
•    Intellectual curiosity - approaches each day with a curious mindset; effectively uses inquiry to uncover facts and circumstances; consistently applies critical thinking.
•    Communication - ability to communicate effectively and with impact, including strong writing and presentation skills.
•    Collaboration - Develops networks and builds alliances; collaborates across boundaries to build strategic relationships and achieve common goals. Influencing and negotiating across external stakeholders (regulators) as well as internal groups.
•    Innovative - ability to identify simpler and better ways of doing things; embraces and adapts to change well.
•    Autonomy - self-starting, able to translate broad-strokes to actions. Actively seeks and executes on value-added opportunities.
•    Influence - ability to influence stakeholders and drive agenda. 
•    Leveraging Diversity - fosters an inclusive workplace where diversity and individual differences are valued and leveraged to achieve the vision and mission of the organization. Exposure and involvement with Employee Engagement initiatives including supporting Diversity & Inclusion efforts.

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

The Compliance and Operational Risk (“C&OR”) Specialist assists the C&OR officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
• Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
• Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
• Assists in remediating C&OR “owned” issues and control enhancements
• Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
• Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
• Assists with the development of risk metrics, monitors related performance and breach remediation

Overview:
Chief Financial Officer Compliance and Operational Risk (CFO COR) seeks to deliver effective independent compliance and operational risk oversight of the CFO Group, which is responsible for the overall financial management of our company, including managing the company’s capital, liquidity and earnings risks, publishing its financial statements and regulatory reports, as well as providing financial planning, analysis and support to all of the company’s Front Line Units (FLUs) and Control Functions (CFs). The selected candidate will execute coverage activities as detailed below to provide an independent risk point of view while validating that approaches and controls are properly designed, operating effectively, and compliant with regulatory and internal requirements. The role may provide opportunities to partner with teams across the company on efforts related to CFO and Corporate Treasury functions including capital, liquidity, global funding, data, technology, and regulatory reporting.


CFO COR drives responsible growth at Bank of America by developing our teammates, promoting a diverse and inclusive culture and approaching our work with intellectual curiosity and dispassionate objectivity. CFO COR delivers its mission through a steadfast commitment to its values: managing risk well; cultivating diversity of thought and valuing different perspectives and experiences; driving an inclusive culture that promotes learning, fosters relationships and creativity; developing talent, advancing careers and creating leaders within Global Risk Management and across the company.

Role Overview:
The CFO COR Specialist is responsible for executing activities to provide independent compliance and operational risk oversight of key CFO functions, including data management, regulatory reporting, and Corporate Treasury. 

The CFO COR Specialist assists in engaging stakeholders across Global Compliance and Operational Risk (GCOR), as well as other risk areas, to provide comprehensive oversight of CFO Group activities. This role assists in developing and maintaining a global coverage plan, which defines the scope and risk-based focus of CFO COR’s oversight activities. The CFO COR Specialist assists in preparing materials for regulatory exams, audits, and other inquiries, and may assist with preparation for FLU/CF, GCOR, and enterprise management and governance routines. 
 

Required Skills:

•    Bachelor’s Degree or equivalent experience in related discipline
•    3+ years of business and/or functional experience in finance, risk management, data management or related discipline
•    Ability to collaborate with peers and business partners globally

Desired Skills:
•    Intellectual curiosity - approaches each day with a curious mindset; effectively uses inquiry to uncover facts and circumstances; consistently applies critical thinking.
•    Communication - ability to communicate effectively and with impact, including strong writing and presentation skills.
•    Collaboration - Develops networks and builds alliances; collaborates across boundaries to build strategic relationships and achieve common goals. Influencing and negotiating across external stakeholders (regulators) as well as internal groups.
•    Innovative - ability to identify simpler and better ways of doing things; embraces and adapts to change well.
•    Autonomy - self-starting, able to translate broad-strokes to actions. Actively seeks and executes on value-added opportunities.
•    Influence - ability to influence stakeholders and drive agenda. 
•    Leveraging Diversity - fosters an inclusive workplace where diversity and individual differences are valued and leveraged to achieve the vision and mission of the organization. Exposure and involvement with Employee Engagement initiatives including supporting Diversity & Inclusion efforts.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22043626

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Alexander Watkins

Referral Bonus:

0