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Assistant Vice President, Testing Specialist (Compliance Trade Surveillance)

Seoul, KR

Job Description:

Your background

  • Degree Required: Bachelor’s Degree or Equivalent
  • 7 to 12 years of combined compliance and / or Risk Management related experience. Supervisory experience with prior examination history would be desirable.
  • Deep understanding of risk assessment and testing / Surveillance methodologies and techniques.
  • Excellent interpersonal, written and verbal communication skills are essential.
  • Excellent stakeholders management and influencing skills
  • Familiar with surveillance related external laws, rules, regulation (such as FINRA rules, Market Abuse Regulation), internal policies, standards and procedures (such as Market Conduct Risk Framework) and industry guidance (such as best practices from the FICC Markets Standards Board) would be desirable
  • Subject matter experts of various forms of market misconduct behaviors such as Layering, Spoofing, Front Running, Wash Trades, Suitability etc. and related regulatory rules and guidance
  • Sufficient product and business knowledge for relevant LOBs (such as FICC product knowledge)
  • Experience using surveillance tools such as Actimize and SMARTS
  • Subject matter experts of the alert generation component with a thorough understanding of the detection logic, parameter choices, threshold settings
  • Knowledge of the data flow, controls and technology infrastructure of the surveillance systems
  • Analytical skills with knowledge of basic statistics
  • Understand the surveillance program and all risks inherent in the business and our function, including its end-to-end operations
  • Logical approach towards documentation of alerts disposition rationale
  • Intellectual curiosity, anticipate risk and forward thinking with a mindset to continuously drive to become better
  • Ability to interact with senior domestic and international regulators both verbally and in writing
  • Demonstrate interpersonal, leadership, collaboration and the ability to communicate on Senior Management level and to produce clear, concise reporting
  • Able to lead a diverse associate population, inspire a strong sense of camaraderie, accountability and motivate continuous improvements to performance. Able to attract, retain and develop top talent
  • Able to lead change and integrate work in a fast-paced, highly matrix environment, establish priorities and achieve results
  • Fluent in both verbal and written English is a must

What you can expect

The Testing Specialist, under supervision, conducts independent transactional and process testing on a team in support of needs identified by Compliance and Operational Risk Officers. A test is defined in the Independent Testing Enterprise Policy as “an independent point-in-time examination of one or more processes, controls, policies and procedures or data sources utilized for managing risk to assess the effectiveness of the control environment.

The Testing Specialist is accountable for quality testing execution, reporting and analysis of results. This role may participate in test script development and test design. The Testing Specialist contributes to the identification of themes and trends at the front line unit, control function and enterprise level. This role is an individual contributor in the Test Execution function.

This role is critical to conducting independent transactional test execution and process testing in EIT to support the needs identified by Test Owners

What you will do

  • Performs Market Trade Surveillance on orders and trades of respective Bank of America’s line of business and clients.  This would include review and disposition of alerts in accordance with prescribed test scripts and documentation of disposition rationale with sufficient robustness
  • This role may participate in test script development and test design. The Testing Specialist contributes to the identification of themes and trends at the front line unit, control function and enterprise level. This role is an individual contributor in the Test Execution function.
  • Collaborates with test owners, ensures accountability for the completion of testing activities in alignment with the Independent Testing- Enterprise Policy & Standard in a timely manner.
  • Coordinates with line of business and compliance partners on alerts escalation, parameters review and Test Recertification.
  • Applies knowledge and expertise of testing programs, industry practices within the business group. Independently conducts assigned responsibilities within the context of the business unit compliance program.
  • Possesses required local regulatory experience to support surveillance strategic change and implications to local processes and governance

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the world

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Job Band:

H5

Shift: 

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Your background

  • Degree Required: Bachelor’s Degree or Equivalent
  • 7 to 12 years of combined compliance and / or Risk Management related experience. Supervisory experience with prior examination history would be desirable.
  • Deep understanding of risk assessment and testing / Surveillance methodologies and techniques.
  • Excellent interpersonal, written and verbal communication skills are essential.
  • Excellent stakeholders management and influencing skills
  • Familiar with surveillance related external laws, rules, regulation (such as FINRA rules, Market Abuse Regulation), internal policies, standards and procedures (such as Market Conduct Risk Framework) and industry guidance (such as best practices from the FICC Markets Standards Board) would be desirable
  • Subject matter experts of various forms of market misconduct behaviors such as Layering, Spoofing, Front Running, Wash Trades, Suitability etc. and related regulatory rules and guidance
  • Sufficient product and business knowledge for relevant LOBs (such as FICC product knowledge)
  • Experience using surveillance tools such as Actimize and SMARTS
  • Subject matter experts of the alert generation component with a thorough understanding of the detection logic, parameter choices, threshold settings
  • Knowledge of the data flow, controls and technology infrastructure of the surveillance systems
  • Analytical skills with knowledge of basic statistics
  • Understand the surveillance program and all risks inherent in the business and our function, including its end-to-end operations
  • Logical approach towards documentation of alerts disposition rationale
  • Intellectual curiosity, anticipate risk and forward thinking with a mindset to continuously drive to become better
  • Ability to interact with senior domestic and international regulators both verbally and in writing
  • Demonstrate interpersonal, leadership, collaboration and the ability to communicate on Senior Management level and to produce clear, concise reporting
  • Able to lead a diverse associate population, inspire a strong sense of camaraderie, accountability and motivate continuous improvements to performance. Able to attract, retain and develop top talent
  • Able to lead change and integrate work in a fast-paced, highly matrix environment, establish priorities and achieve results
  • Fluent in both verbal and written English is a must

What you can expect

The Testing Specialist, under supervision, conducts independent transactional and process testing on a team in support of needs identified by Compliance and Operational Risk Officers. A test is defined in the Independent Testing Enterprise Policy as “an independent point-in-time examination of one or more processes, controls, policies and procedures or data sources utilized for managing risk to assess the effectiveness of the control environment.

The Testing Specialist is accountable for quality testing execution, reporting and analysis of results. This role may participate in test script development and test design. The Testing Specialist contributes to the identification of themes and trends at the front line unit, control function and enterprise level. This role is an individual contributor in the Test Execution function.

This role is critical to conducting independent transactional test execution and process testing in EIT to support the needs identified by Test Owners

What you will do

  • Performs Market Trade Surveillance on orders and trades of respective Bank of America’s line of business and clients.  This would include review and disposition of alerts in accordance with prescribed test scripts and documentation of disposition rationale with sufficient robustness
  • This role may participate in test script development and test design. The Testing Specialist contributes to the identification of themes and trends at the front line unit, control function and enterprise level. This role is an individual contributor in the Test Execution function.
  • Collaborates with test owners, ensures accountability for the completion of testing activities in alignment with the Independent Testing- Enterprise Policy & Standard in a timely manner.
  • Coordinates with line of business and compliance partners on alerts escalation, parameters review and Test Recertification.
  • Applies knowledge and expertise of testing programs, industry practices within the business group. Independently conducts assigned responsibilities within the context of the business unit compliance program.
  • Possesses required local regulatory experience to support surveillance strategic change and implications to local processes and governance

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the world

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Learn more about this role

Full time

JR-22047525

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Mitesh Rathod

Referral Bonus:

0

Street Address

Primary Location:
136 SEJONGDAE-RO JUNG-GU, Seoul, 04520