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 ensuring the identification, escalation, and timely mitigation of compliance and operational risks in the country in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy and the Compliance and Operational Risk Management Program and Standard Operating Procedures. Key responsibilities include the timely oversight of the changes of local Laws, rules and regulations (LRRs), to provide comprehensive oversight of Front Line Unit (FLU) and Control Function (CF) activities, including proper and prompt consultation to business leaders for the daily business development as well as new product/service launch at the market. Job expectations may include solid global banking business knowledge so that business inquiry can be solved with high quality. Meanwhile, the role shall also include the duty to identify, measure and report the operational risk of the Bank.
Responsibilities:
The Senior Country Compliance and Operational Risk (C&OR) Manager is responsible for ensuring the identification, escalation and timely mitigation of compliance and operational risks in China, in alignment with the Global Compliance Enterprise Policy, the Operational Risk Enterprise Policy, and the Compliance and Operational Risk Management (CORM) Program, and Standard Operating Procedures (SOPs).
Conduct compliance and operational risk assessments in China and contribute to the risk assessment for the region, incorporating review of loss events to assess control effectiveness.
Contribute to the Single Process Inventory ( SPI) development.
Prepare Country Compliance and Operational Risk reporting, identifying and aggregating compliance and operational risks/issues for the country.
Make the relevant compliance and operational risk training to address the local needs.
Provide compliance and operational risk monitoring occurring in China.
Evaluation of internal audit results, regulator identified issues, monitoring and testing results, and advising on the remediation.
Ensuring Compliance and Operational Risk “owned” issues are addressed appropriately and timely.
Oversight of changes in local and global/regional regulation, including advising on those changes and directing the appropriate areas to implement or amend policies and procedures/processes to address such changes.
Provide high-quality advice/consultation to Lines of Businesses (Including Front Line Units and Control and Support Functions) for the business development as an independent gatekeeper.
Escalate any key issues to the appropriate level of management.
Ensure consistent quality of activities, processes and outputs can be made by independent task engagement or collaboration with other team members.
Identify, review and document relevant internal and external loss events.
Contribute to Scenario Analysis to provide a forward-looking estimate of hypothetical operational losses.
Other tasks assigned by the manager from time to time.
Skills:
Requirements:
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