Director, Business Controls Office, Global Markets, Australia

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!

Summary of business area:

Bank of America offers a broad range of products and services across corporate banking, corporate finance and advisory, capital markets, debt and equity sales and trading. 

Supporting our Global Banking and Markets (GBAM) teams in Australia, this position sits within the Business Controls Function – which is part of the GBAM COO organization and is the key control partner for the line of business heads and the front office.

The Supervisory & Control Function is an in-business group providing a range of advisory and execution services for the Global Markets businesses, including analysis and performance of key supervision and control tasks. 

Job description:

The role is responsible for focusing on business controls and initiatives across FICC/Equities/Banking businesses in Australia.

Responsibilities include:

• Supporting the management of the business/country in the strategic understanding and practical mitigation of their control risks and the evolution of the business’ risk culture
• Providing business controls support to country lead, where necessary. 
• Representing the Business Controls in preparation for regulatory inspections or the completion of regulatory questionnaires
• Partner with the COO team to produce and monitor the product risk assessment and the associated documentation
• Lead the production of metrics that feed into governance committee’s .
• Understanding and implementing the front office supervision and control arrangements using the firm’s tools
• Helping to drive control initiatives across the country franchise to ensure the business is effectively managing all its operational risks
• Implementing and leading governance forums and associated working groups for example the Business Controls Forum.
• Engage with compliance and regulatory change functions to ensure regulatory updates are addressed and embedded into the control framework.
• Understanding and helping assess root cause and mitigating controls for operational losses and errors and developing and improving routines to capture control metrics for reporting Key Risk Indicators (KRIs) and for developing the Risk & Control Self-Assessments of the business in the region
• Working closely with LOB Supervisors and delegates/support groups in managing the day-to-day supervision infrastructure (e.g., supervisory responsibilities matrices, supervisor alignments, supervisor acknowledgements/attestations, etc.), including performing delegated supervisory tasks as required
• Partnering with COO teams to supporting LOB on internal exams (e.g., audits, targeted risk assessments, etc.) and external regulator meetings/exams, including preparing LOB leaders for meetings, providing exam responses and documentation, and presenting to auditors, risk, regulators as required
• Managing audit issue identification and remediation and handling Audit and Regulatory visits as the control face of the business
• Performing deep-dives into producer activities and the risks of products to identify control weaknesses or gaps in processes and activities and remediating weaknesses.

Requirements:

• Product knowledge and experience (10+ years)
• Knowledge of Markets trading especially Australian markets preferred either from a trading or trade support background
• Knowledge of the local regulatory environment and operational risk associated with the firms mandate
• Good project/program management skills: ability to run complex, collaborative analytical projects including investigations
• Evidence of implementation and running/chairing governance frameworks/working groups etc 
• Strong academic background or equivalent
• Good IT skills and the ability to develop ad hoc solutions, perform analysis of data
• Good presentation skills – powerpoint skills, excel, data analysis.
• Exceptional communication/relationship skills. (Evidence of successful senior stakeholder engagement required)

Competencies:

• Control Mindset: a commitment to ensuring that the business does the right thing
• Creative Thinking: the ability to generate new ideas and possibilities, and to see business opportunities – and risks – with a constructive perspective
• Commercial/Client Orientation: an underlying desire to help the business serve clients and a motivation to ensure that others’ needs are met
• Consulting Skills: an ability to provide added value, including innovative approaches and new or improved solutions
• Flexibility:  the capacity to adapt approach in light of shifting priorities or changing conditions
• Personal Effectiveness: strong communication, decisiveness, energy, drive, courage, and character. A thinker – and a doer
• Comfortable having difficult conversations with strong characters.
• Team Orientation / Teamwork / Collaboration: The willingness to work as a member of a broad team in a matrix organization.