Compliance and Operational Risk Specialist

Job Description:

Job Title: Compliance and Operational Risk Specialist

Corporate Title: Vice President

Location: 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!

Location Overview:

Based in the 8th arrondissement and within the Parisian Golden Triangle, our beautiful Art-Deco era office benefits from luxury modern workspaces, an abundance of natural light and is easily accessible by public transport.

The Team:

Join a growing, developing and international team with very good working spirit. Our Paris based team has interactions with the Bank’s 3 lines of Defence teams and work closely with other Paris based teammates and as well with other teams across the world. In this role you will get exposure to the Senior Business Executive Team and C&OR (Compliance and Operational Risk) Management. There are various opportunities of learning & development thanks to a large scope covered by the function.

Role Description:

We are seeking an experienced and detail-oriented professional to join our 2nd line of defence Compliance and Operational Risk (COR) team. This role is focussed on enhancing our 2nd line of defence risk oversight coverage with an emphasis on data risk management including BCBS 239 requirements, risk data aggregation and effective data architecture and data management. The successful candidate will join a strong team, ensuring robust data risk controls, collaborating across enterprise and regional legal entity front line units/control functions focussing on data risk governance and regulatory compliance.  

Responsibilities:

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.

• Supports the development of independent risk management monitoring and testing activities to assess Data Risk in Bank of America's International businesses. 

• Contributes to development of risk coverage plans and execution of independent risk monitoring, testing and risk assessments

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

• Assists with the development, maintenance and oversight of policies and standards to ensure regulatory and operational risk requirements are appropriately addressed 

• Assess and monitor adherence to BCBS 239 data risk principles and compliance requirements

• Evaluate existing risk data aggregation frameworks (including policy, standards, playbooks and procedures) and methodologies for compliance

• Review data architecture and governance structures against regulatory standards

• Conduct independent assessment of Data Management governance structures and controls

• Provide expert guidance to front line units/control functions on data risk compliance requirements

• Prepare comprehensive compliance reports for senior management and regulatory bodies

• Identify compliance gaps related to data risk and recommend remediation actions

• Challenge first line activities and ensure proper controls are in place

• Monitors the regulatory environment to identify regulatory changes applicable to Data-related legislation

• Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on issues and control enhancements 

• Assists in remediating COR “owned” issues and control enhancements 

• Reviews and challenges the Single Process Inventory (SPI) and FLU/CF Risk & Control Self-Assessment (RCSA) 

• Assists with the development of risk metrics, monitors related performance and breach remediation

• Support audits and regulatory reviews by preparing documentation and responding to data risk and compliance related queries

What we are looking for:

• Demonstrable experience working in regulated industries (e.g. banking, financial services) with complex data environments

• Experience in a 2nd line function

• Excellent understanding of BCBS 239 principles and compliance assessment methodology

• Familiarity with industry-standard tools and technologies for data aggregation, reporting and data quality management

• Experience in evaluating risk data aggregation and reporting processes

• Strong understanding of data architecture principles, data lineage and data management best practices

• Proven analytical skills with ability to assess complex data structures and identify compliance issues

• Excellent written and verbal communication skills to articulate compliance viewpoint and findings to various stakeholders

• Logical thinker with excellent technical skills

• A flexible and solution oriented perspective, and a determination and desire to find answers to complex issues

• Ability to work collaboratively across functions and manage multiple priorities in a dynamic environment

• Intellectual curiosity – approaches each day with a curious mindset; effectively uses inquiry to uncover facts and circumstances; consistently applies critical thinking.

Benefits of working at Bank of America:

France

• Competitive retirement plan in addition to State plans

• Mandatory Medical Plan provided by the bank as a top-up to Social Security health benefits for you and your family.

• Employees and family members can receive free health advice 24/7 through a range of English and French speaking medical providers

• Life and disability insurance

• Time Savings Account (‘CET’) to save some of your leave days, cash them out or use them later

• Reimbursement of 50% of your commuter pass

• Nursery scheme for children under age 3

• Works council benefits

• Access to an Employee Assistance Programme for confidential support and help for everyday matters

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering with local charities

• Opportunity to receive free entry to arts exhibitions sponsored by Bank of America in Paris

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.