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Client Asset Control EMEA

London, , United Kingdom

Job Description:

Job Title:   Client Asset Control EMEA

Corporate Title:  Vice President

Location:   London

Role Description:

  • The role covers front-to-back oversight of the Firm’s systems and controls to ensure BofA EMEA entities comply with Client Asset Regulations.  As a member of the Client Asset Control Group you will be responsible for advising core lines of business on client asset impact, manage audit and regulatory interaction and contribute to governance reporting. 

  • Assessing the impact of BofA’s initiatives and/or regulatory change projects on client asset operational processes, and leading the implementation of new processes and controls identified as part of this impact assessment

  • Liaising with the business/core operations teams to provide client asset advice and solutions on new proposals/bespoke arrangements (e.g. New Product Review process)

  • Determining the impact of any client asset breaches that arise within the UK and EU legal entities. Leading the root cause analysis of these breaches and ensuring impacted business or operations areas implement solutions to avoid reoccurrence. Working with Compliance to determine appropriate treatment, escalation and any external reporting of breaches.

  • Understanding the detailed regulations in each jurisdiction: UK, France and Ireland. Preparing materials and responding to questions from the relevant regulators (e.g. UK FCA, Irish CBI and French AMF/ACPR).

  • Representing BofA at industry forums to ensure that BofA stays up to date on industry best practice and significant market changes.

  • Delivering the UK and EU client assets training programme, which includes the creation of online training content that is completed by over 10,000 associates globally as well as bespoke face-to face training on specific topics.

Key skills:

  • Knowledge of the UK Client Assets CASS rules or another regulatory discipline would be beneficial but is not essential. This role would be suitable for an individual with experience in a Risk, Business Control or COO function and has an interest in understanding the client asset rules.

  • Good knowledge of the products that give rise to client money and assets and the associated operational processes as well as a strong risk and controls mindset ;

  • Excellent organisational and multi-tasking skills to manage competing priorities against tight regulatory deadlines
    Ability to influence outside of direct team, collaborate with different stakeholders, drive and implement changes to the client asset control and regulatory environment.

Other Qualifications:

  • Thought leadership
    - strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions

  • Excels in working among diverse viewpoints to determine the best path forward

  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner

  • Commitment to challenging the status quo and promoting positive change.

  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base

  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

  • Understanding the detailed regulations in each jurisdiction: UK, France and Ireland. Preparing materials and responding to questions from the relevant regulators (e.g. UK FCA, Irish CBI and French AMF/ACPR).

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:   Client Asset Control EMEA

Corporate Title:  Vice President

Location:   London

Role Description:

  • The role covers front-to-back oversight of the Firm’s systems and controls to ensure BofA EMEA entities comply with Client Asset Regulations.  As a member of the Client Asset Control Group you will be responsible for advising core lines of business on client asset impact, manage audit and regulatory interaction and contribute to governance reporting. 

  • Assessing the impact of BofA’s initiatives and/or regulatory change projects on client asset operational processes, and leading the implementation of new processes and controls identified as part of this impact assessment

  • Liaising with the business/core operations teams to provide client asset advice and solutions on new proposals/bespoke arrangements (e.g. New Product Review process)

  • Determining the impact of any client asset breaches that arise within the UK and EU legal entities. Leading the root cause analysis of these breaches and ensuring impacted business or operations areas implement solutions to avoid reoccurrence. Working with Compliance to determine appropriate treatment, escalation and any external reporting of breaches.

  • Understanding the detailed regulations in each jurisdiction: UK, France and Ireland. Preparing materials and responding to questions from the relevant regulators (e.g. UK FCA, Irish CBI and French AMF/ACPR).

  • Representing BofA at industry forums to ensure that BofA stays up to date on industry best practice and significant market changes.

  • Delivering the UK and EU client assets training programme, which includes the creation of online training content that is completed by over 10,000 associates globally as well as bespoke face-to face training on specific topics.

Key skills:

  • Knowledge of the UK Client Assets CASS rules or another regulatory discipline would be beneficial but is not essential. This role would be suitable for an individual with experience in a Risk, Business Control or COO function and has an interest in understanding the client asset rules.

  • Good knowledge of the products that give rise to client money and assets and the associated operational processes as well as a strong risk and controls mindset ;

  • Excellent organisational and multi-tasking skills to manage competing priorities against tight regulatory deadlines
    Ability to influence outside of direct team, collaborate with different stakeholders, drive and implement changes to the client asset control and regulatory environment.

Other Qualifications:

  • Thought leadership
    - strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions

  • Excels in working among diverse viewpoints to determine the best path forward

  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner

  • Commitment to challenging the status quo and promoting positive change.

  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base

  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

  • Understanding the detailed regulations in each jurisdiction: UK, France and Ireland. Preparing materials and responding to questions from the relevant regulators (e.g. UK FCA, Irish CBI and French AMF/ACPR).

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-22048490

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Katie Whitehead

Referral Bonus:

0

Street Address

Primary Location:
2 KING EDWARD ST, London, EC1A 1HQ