VP, Sr Business Controls

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:
Manage, develop and oversee supervisory controls for a line of business or region. Enhance, design, implement and provide ongoing oversight to front-office supervisory programs. Train supervisors and serve as subject matter expert on supervision structure, risk controls and policy implementation. Partner closely with senior management, Compliance and other control partners to develop strategies, tools and reporting capabilities to strengthen current processes associated with supervision and control. Work with Compliance and Legal, as appropriate to update policies and procedures to reflect changes in regulatory rules. As appropriate, assume formal delegations of supervisory responsibilities on behalf of the line of business. Requires a qualified registered principal (as defined by regulatory bodies), a deep understanding of the business unit's products, services and processes, extensive industry experience, and strong analytical, communication and management skills.

Position reporting to the Head of Equity Business Controls. This individual will partner closely with the line of business, COO and other support functions (e.g. Compliance, Operational Risk). Responsible for creating, enhancing and overseeing the controls and processes that create the framework that makes up the business operating environment. The goal being to ensure the line of business is in compliance with applicable rules, regulations and implementing industry best practices.

The candidate will need to have an understanding of the Equity Sales and Trading businesses and ideal candidate should have strong IT skills, as well as, some experience in the Front Office/Middle Office/Compliance areas. The candidate will work closely with Sales/Trading desk heads and may be asked to perform delegated responsibilities related to supervisory  tasks from review of sales/trading activity to ensuring desk personnel are appropriately registered.

Position Description

• Understanding of US Equity Regulations, particularly SEC, FINRA, CFTC
• Coordinate with IT to create and enhance supervisory reports
• Work closely with desk supervisors and support groups in managing the day-to-day supervision infrastructure including matrices, supervisor alignments and monthly supervisor acknowledgements
• Conduct specific delegated supervisory tasks and follow up as necessary with the business supervisors. Works with other support partners to ensure supervisory processes are considered in the overall business infrastructure and ensures that adequate supervisory tools exist or are developed to meet key supervisory requirements
• Consults with senior management, the centralized Business Controls team, Legal and Compliance to develop strategies to implement change and improvements to current processes; and work with Compliance and Legal as appropriate to update procedures to reflect changes in regulatory rules.
• Oversee, develop, maintain and enforce the supervisory program
• FINRA series 7, 63 & 24 licensed 

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