Compliance and Operational Risk Manager

Job Description:

Job Title:  Compliance and Operational Risk Manager (Trade Surveillance)

Corporate Title:  Up to director

Location:  London / Paris

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!

The Team:

This team engages in activities to provide independent compliance and operational risk oversight of FLU or Control Function (CF) 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

Role Description:

This job is responsible for executing second line of defence 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:

• Assessing risks and effectiveness of Front Line Unit (FLU) processes and controls to ensure compliance with applicable laws, rules, and regulations, while responding to regulatory inquiries, other audits, and examinations.

• 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.

• Managing inventory of processes, risks, controls, and associated metrics for risk limits, reporting violations of compliance or regulatory activities.

• Assisting in the development of independent risk management reporting for respective area(s) of coverage as input into country/regional governance and management routines.

• Evaluating and interpreting applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks.

• Reviewing and challenging FLU/CF process, risk, Single Process Inventory, and FLU/CF Risk and Control Self-Assessment related to themes or trends, while monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage .

What we are looking for:

• Bachelor’s Degree or equivalent experience.

• Demonstrable experience in Trade Surveillance.

• Excellent understanding of Market Conduct behaviours and surveillance programs to detect market misconduct.

• Ability to evaluate trading activity and market events, as well as the data that feeds into surveillance systems. 

• Experience with Trade Surveillance systems, such as SMARTS, Actimize, Trading Hub or similar.

• Ability to execute surveillances across multiple lines of business.

• Extensive functional or professional knowledge.

• Microsoft Suite of products + technical experience with Excel macros, VBA, Python or equivalent.

Skills that will help:

• Experience with, and calibration of, Trade Surveillance programs in Equities, Futures, Fixed Income and/or FX products.

• Knowledge of trading business, markets, and products, with an understanding of the market microstructure.

• Ability to handle multiple projects in a dynamic environment.

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.