Senior Country Compliance and Operational Risk (C&OR) 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:
 

Senior Country Compliance and Operational Risk (C&OR) Manager (Director) role will be responsible for executing the compliance program in Bank of America N.A. India Branch office (Bank) and from Line of business perspective, provide coverage for Fixed Income, Currencies and Commodities (FICC) to ensure that business is conducted in compliance with the applicable laws, regulations and compliance policies. The Senior Country Compliance and Operational Risk (C&OR) Manager will report to the BANA India C&OR lead.

Responsibilities:

• Identifying, communicating and providing compliance guidance for the Laws, Rules and Regulations applicable to Fixed Income, Currencies and Commodities, Treasury, CFO and Global Markets Operations (GMO) – collectively “FICC” coverage.
• Liaising with country leadership, senior management and functional leaders alongside horizontal compliance teams (EACs / GFC / Regional FLU Compliance teams) and other Control Functions such as Risk to provide oversight of FLU and CF activities.
• Working with Product, Sales, Operations and Technology teams to review risks associated with ongoing product management and new products implementation.
• Represent India Compliance and Operational Risk (C&OR) team across various Governance Committees, provide independent view and advise in the governance forum on the matters having bearing on regulatory, reputational or operational risk.
• Providing updates on the state of compliance and operational risk using certain key metrics, issues, significant regulatory changes, outcome of C&OR reviews and help senior management drive the compliance culture in the country.
• Implementing Enterprise Compliance and Operational Risk framework consistently across FICC.
• Developing the monitoring & testing coverage plans and executing them in line with local and enterprise requirements.
• Conducting Compliance and Operational Risk Assessments for these businesses, identifying risk issues and escalating them in a timely manner to ensure sustainable remediation.
• Developing role-based compliance training coverage plans to address the business needs.
• Engaging with regulators / quasi-regulators such as Reserve Bank of India (“RBI”) and National Stock Exchange (NSE) periodically and developing good professional relationship. Managing regulatory inquiries and exams in a timely and efficient manner, and escalating key issues appropriately.
• Independently and holistically assess the Conduct related issue of the C&OR owned policies, provide appropriate recommendation and maintain record of such issues and disposition.

Skills:

• Compliance and Operational Risk (C&OR) is a centralized group within Global Risk Management responsible for identifying, escalating and mitigating compliance and operational risk to ensure the Bank is in compliance with domestic and international laws, rules and regulations, and that risk and controls procedures are operating effectively.
• We are looking for a Compliance Director who has good understanding and subject matter expertise of the regulations applicable to Fixed Income, Currencies and Commodities (FICC) of the foreign bank operating in India, and the key elements of the Compliance and Operational risk framework. This role requires skills to collaborate, ability to challenge the norms, effective communication skills and provide independent opinions based on facts and critical analysis.
• Qualifications - Bachelor’s Degree or equivalent experience with 10 years of experience in managing the Compliance risk.
• Why a specific skill, such as language, is required – Proficiency in English