Compliance and Operational Risk Specialist - Credit Risk

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 assisting the Compliance and Operational Risk officer team to execute second line of defense compliance and operational risk oversight for Credit Risk. Key responsibilities include 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.

Responsibilities:

• Assists in assessing risks, associated controls and their effectiveness, while driving compliance with applicable laws, rules, and regulations, adhering to policies, and developing reporting and documentation

• Engages in activities to provide support to the Compliance and Operational Risk teams in order to provide independent compliance and operational risk oversight of Credit Risk performance and any related third party/vendor relationships in alignment with the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy (collectively the Policies) and the Compliance and Operational Risk Management Program and Standard Operating Procedures

• Assists in identifying and escalating problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into management routines

• Assists in responding to regulatory inquiries and other audits and examinations

• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory

• Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.

Skills:

• Monitoring, Surveillance, and Testing

• Process Management

• Regulatory Compliance

• Reporting

• Risk Management

• Attention to Detail

• Critical Thinking

• Interpret Relevant Laws, Rules, and Regulations

• Issue Management

• Policies, Procedures, and Guidelines Management

• Active Listening

• Advisory

• Business Process Analysis

• Written Communications

This job is responsible for assisting the Compliance and Operational Risk officer team to execute second  line of defense compliance and operational risk oversight for a Front-Line Unit, Control Function, and/or  Third Parties. Key responsibilities include 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.

Responsibilities:

• Assists in assessing risks, associated controls and their effectiveness, while driving compliance with applicable laws, rules, and regulations, adhering to policies, and developing reporting and documentation

• Engages in activities to provide support to the Compliance and Operational Risk teams in order to provide  independent compliance and operational risk oversight of Front-Line Unit or Control  Function performance and any related third party/vendor relationships in alignment with the  Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy  (collectively the Policies) and the Compliance and Operational Risk Management Program and  Standard Operating Procedures

• Assists in identifying and escalating problems or issues that arise and drives actions to address  the root causes that lead to compliance risk issues and/or operational risk losses

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into management routines

• Assists in responding to regulatory inquiries and other audits and examinations

• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of  coverage and maintains a comprehensive regulatory inventory

Required Skills:

• 5 Years of applicable industry experience

• Bachelor’s Degree or equivalent experience

• Credit Experience

Desired Skills:

• Knowledge of governance and reporting practices including escalation best practices and guidelines

• Knowledge of issue management requirements

• Ability to effectively review and challenge work done by the FLU/CF 

Shift:

Hours Per Week: