Compliance & Ops Risk Manager

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:
This job is responsible for the execution of the Compliance and Operational Risk Management (CORM) Program. Key responsibilities include identifying, escalating, and mitigating risks in a timely manner, engaging with Front Line Units and Control Functions (FLU/CF) leaders globally and with other Compliance and Operational Risk Officer teams, executing the CORM Program and the Policies, identifying themes and trends, and conducting analysis for new and emerging risks.

The role will provide CORM coverage of Global Payment Operations (GPO). GPO are responsible to delivers global wire transfers processing, ACH payments for institutional and consumer customers.

Responsibilities:

• Assesses risks, associated controls and their effectiveness, driving compliance with applicable laws, rules, and regulations and adhering to policies.
• Engages in activities to provide independent compliance and operational risk oversight of Front Line Unit or Control Function (FLU/CF) performance and any related third party/vendor
• Identifies and escalates problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses, including opening new issues or raising a formal CORM challenge
• Monitoring of FLU/CF processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities.
• Analyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks including monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintaining a comprehensive regulatory inventory, while supporting 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
• Responds to regulatory inquiries, other audits, and examinations and identifies regulatory training needs supporting the development of the training curriculum.
• Reviews and challenges FLU/CF process, risk, Single Process Inventory and FLU/CF Risk and Control Self-Assessment related to themes or trends, while monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage.

Required Skills:

• 10 Years+ experience banking operations, audit or compliance or operational risk experience at a large financial firm
• Knowledge of payments systems (wires, ACH) or payment products a plus
• Knowledge of GTS products and services a plus
• Ability to collaboration and work in close partnership across teams
• Excellent communication skills both oral and written
• Bachelor's degree or equivalent work experience

Desired Skills:

• Knowledge of GTS products and services with a focus on payments systems or payment products

Shift:

Hours Per Week: