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Compliance and Operational Risk Specialist

Bromley, , United Kingdom;

Job Description:

Job Title:  Compliance and Operational Risk Specialist

Corporate Title: Up to Assistant Vice President

Location: Bromley or Camberley

The Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) Specialist is an individual contributor member of an EAC C&OR team that is responsible for enterprise-wide oversight of processes, controls, laws, rules, and/or regulations that have enterprise-wide applicability, affecting two or more Front Line Units or Control Functions (“FLU/CF”) (examples include Third Party, Privacy, Reg W). Responsibilities include identifying, escalating and mitigating risks in a timely manner in alignment with the C&OR Management (“CORM”) Program, with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”), and delivering on the other requirements in the Policies.


The EAC C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and 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 EAC C&OR Specialist also assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

Activities this role performs for their area of coverage include, but are not limited to:

• Assists in the development of independent risk management reporting as input into governance and management routines
• Assists with the oversight of FLU/CF training, which may include content development and/or tracking and communication of completion rates
• Assists with the development and maintenance of C&OR-owned policies and standards 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
• Executes C&OR Monitoring, Testing, and 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
• Supports Scenario Analysis activities to provide a forward-looking estimate of hypothetical operational losses
• Assists with the development of risk metrics, monitors related performance and breach remediation

Role Responsibilities:

As an individual contributor the you will promote a culture of compliance and the identification, escalation and timely mitigation of compliance risks.

The primary focus of the role will be to undertake all duties and responsibilities in a timely and effective manner, specifically:

•    Upload trader short codes and PII (Personal Identifiable Information) data to the MiFID venue(s) across EMEA, looked after by the UK R&L (Registrations and Licensing) team
•    Traders accessing the EMEA venue will be located across the Globe
•    Ensure that the right PII (i.e. NI, passport, other national ID etc.) have been uploaded and correctly formatted in accordance to requirements set by each venue
•    Manage approved upload requests that come through ARM (access request management) system and close tickets when set up has been completed
•    Manage upload requests that comes through outside of ARM. Liaise with FLU COO (Chief Operating Officer) to get the relevant approvals 
•    Review daily alert report for any changes to PII data. Update the info held by the venue when necessary
•    Stakeholder manager, by sending a holding response to help manage expectations, where appropriate
•    Co-ordinate with the relevant stakeholders i.e. FLU COOs and technology teams on issues and escalations from the venue
•    Create new procedures and update existing ones 
•    Review current processes and make necessary enhancement where there are gaps. Liaise with the relevant stakeholders for information / assistance
•    Manage or assist with project work relating to short codes, including but not limited to evaluation of automation where possible. 

Required Skillset:

Ability to appropriately handle sensitive and confidential material

Can handle difficult conversations with internal clients & business partners. Stakeholder management

Keen problem solver who can handle multiple projects

Follow-up initiative to resolve items

Excellent attention to detail

Possess a positive, cooperative and professional attitude

Bank of America:

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment

Job Band:

H5

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Title:  Compliance and Operational Risk Specialist

Corporate Title: Up to Assistant Vice President

Location: Bromley or Camberley

The Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) Specialist is an individual contributor member of an EAC C&OR team that is responsible for enterprise-wide oversight of processes, controls, laws, rules, and/or regulations that have enterprise-wide applicability, affecting two or more Front Line Units or Control Functions (“FLU/CF”) (examples include Third Party, Privacy, Reg W). Responsibilities include identifying, escalating and mitigating risks in a timely manner in alignment with the C&OR Management (“CORM”) Program, with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”), and delivering on the other requirements in the Policies.


The EAC C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and 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 EAC C&OR Specialist also assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

Activities this role performs for their area of coverage include, but are not limited to:

• Assists in the development of independent risk management reporting as input into governance and management routines
• Assists with the oversight of FLU/CF training, which may include content development and/or tracking and communication of completion rates
• Assists with the development and maintenance of C&OR-owned policies and standards 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
• Executes C&OR Monitoring, Testing, and 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
• Supports Scenario Analysis activities to provide a forward-looking estimate of hypothetical operational losses
• Assists with the development of risk metrics, monitors related performance and breach remediation

Role Responsibilities:

As an individual contributor the you will promote a culture of compliance and the identification, escalation and timely mitigation of compliance risks.

The primary focus of the role will be to undertake all duties and responsibilities in a timely and effective manner, specifically:

•    Upload trader short codes and PII (Personal Identifiable Information) data to the MiFID venue(s) across EMEA, looked after by the UK R&L (Registrations and Licensing) team
•    Traders accessing the EMEA venue will be located across the Globe
•    Ensure that the right PII (i.e. NI, passport, other national ID etc.) have been uploaded and correctly formatted in accordance to requirements set by each venue
•    Manage approved upload requests that come through ARM (access request management) system and close tickets when set up has been completed
•    Manage upload requests that comes through outside of ARM. Liaise with FLU COO (Chief Operating Officer) to get the relevant approvals 
•    Review daily alert report for any changes to PII data. Update the info held by the venue when necessary
•    Stakeholder manager, by sending a holding response to help manage expectations, where appropriate
•    Co-ordinate with the relevant stakeholders i.e. FLU COOs and technology teams on issues and escalations from the venue
•    Create new procedures and update existing ones 
•    Review current processes and make necessary enhancement where there are gaps. Liaise with the relevant stakeholders for information / assistance
•    Manage or assist with project work relating to short codes, including but not limited to evaluation of automation where possible. 

Required Skillset:

Ability to appropriately handle sensitive and confidential material

Can handle difficult conversations with internal clients & business partners. Stakeholder management

Keen problem solver who can handle multiple projects

Follow-up initiative to resolve items

Excellent attention to detail

Possess a positive, cooperative and professional attitude

Bank of America:

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment

Learn more about this role

Full time

JR-22045496

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Josh Littlemore

Referral Bonus:

0

Street Address

Primary Location:
26 ELMFIELD RD, Bromley, BR1 1LR
Additional Locations: