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Compliance and Operational Risk Manager (Equities)

London, , United Kingdom

Job Description:

Job Title: Compliance and Operational Risk Manager (Equities)

Location: London

Corporate Title: up to Director

Company Overview:

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!

Location Overview:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

Role Overview:

An opportunity has arisen in our London office for a Compliance Manager to join the Equities Compliance and Operational Risk team responsible for independent oversight of the EMEA Equities business including the following sub-lines of business: Equities Execution Services, Equities Derivatives and Prime Financing.

This role is responsible for executing second line of defence compliance and operational risk oversight for Equities, focusing on UK and CEEMEA. Key responsibilities include (but not limited to) ensuring requirements of the Global Compliance Enterprise Policy, the Operational Risk Management Enterprise Policy (collectively “the Policies”), the Compliance and Operational Risk Management Program and Standard Operating Procedures are implemented and identifying, challenging, escalating, and mitigating risks in a timely manner.

In addition to day to day coverage activities the role requires a strong understanding of the UK, European and global regulatory framework that applies to the London and CEEMEA based Equities business; real time engagement with the business on new products and key initiatives, including regulatory change implementation;  representing Compliance & Operational Risk on governance routines providing effective review and challenge of potential regulatory compliance and operational risk issues; supporting relevant policy and procedure development and training; and, ensuring that, where necessary, aspects of regulatory change are reflected in our second line coverage plan, including Surveillance, Monitoring and Testing routines. The successful candidate will be required to keep abreast of regulatory developments impacting the Equities business.


  • Assesses risks, and effectiveness of Equities processes and controls to ensure compliance with applicable laws, rules, and regulations, while responding to regulatory & trading venue inquiries, other audits, and examinations
  • Engages in activities to provide independent compliance and operational risk oversight of the Equities business and any related third party/vendor relationships in alignment with the Policies and the Compliance and Operational Risk Management Program and Standard Operating Procedures
  • 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
  • Manages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities
  • Assists in the development of independent risk management reporting for respective area(s) of coverage as input into country/regional governance and management routines
  • Analyses and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks
  • Reviews and challenges Equities processes, risks, Single Process Inventory, and Risk and Control Self-Assessment related to themes or trends, while monitoring the regulatory environment to identify regulatory changes applicable to the Equities business
  • Investigates escalated trade surveillance alerts and contributes to continuous enhancement of the trade surveillance framework
  • Attends & participates in in governance forums providing advice, review, and challenge

What we are looking for:

  • A versatile, confident individual with significant, relevant work experience in a similar compliance and/or operational risk role with strong written and verbal communication skills
  • A flexible and solution driven perspective, and a determination and desire to find answers to complex issues
  • Ability to engage and communicate confidently and professionally with trading and sales teams, support & control functions, and externally with trading venues and regulators
  • Ability to develop effective working relationships with senior business leaders whilst still providing independent & robust review and challenge
  • A strong understanding of the UK, European and US regulatory framework that applies to the London and CEEMEA based Equities businesses including (not limited to) MiFID II, MAR, EMIR, Dodd Frank, Volcker etc.
  • A background in Equities second line coverage across a broad range of products including Derivatives, Execution Services & Prime Financing, and a genuine interest in securities markets and the design and use of financial instruments
  • Ability to work both as part of a team and independently, and ability to prioritize workload
  • Confident in managing policies, procedures and guidelines
  • Ability to interpret relevant laws, rules and regulations

Benefits of working at Bank of America:


  • Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
  • Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
  • 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum 
  • The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
  • Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
  • Access to an Employee Assistance Program for confidential support and help for everyday matters
  • Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
  • Opportunity to access our Arts and Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.
  • Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America

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 sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or 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.

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Full time


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