Compliance and Operational Risk Executive

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
This job is responsible for leading and executing the second line of defense compliance and operational risk oversight for a Front Line Unit for Global Rates, Global FX and Futures Execution/Clearing businesses reporting to the head of Global Markets Compliance and Operational Risk. Key responsibilities include leading a compliance and operational risk team and 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 the team is identifying, challenging, escalating, and mitigating risks in a timely manner.

Responsibilities:

• Oversees the assessment of risks, associated controls and their effectiveness, while driving compliance with applicable laws, rules, and regulations and adhering to policies

• Oversees engagement in activities which 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

• Oversees identification and escalation of problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses

• Oversees and manages inventory of risks and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities

• Manages the development of independent risk management reporting for respective area(s) of coverage for inputs into management routines which could include country/regional governance

• Oversees monitoring of the regulatory environment to identify regulatory changes applicable to area(s) of coverage

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Diversity & Inclusion Champion: Breaks down barriers to create a more inclusive environment that supports company O&I goals.

• Manager of Process & Data: Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations.

• Enterprise Advocate & Communicator: Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success.

• Risk Manager: Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization.

• People Manager & Coach: Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance.

• Financial Steward: Efficiently allocates and manages resources across the organization to drive short and long term profitability.

• Enterprise Talent Leader: Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs.

• Driver of Business Outcomes: Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage.

Skills:

• Advisory

• Decision Making

• Interpret Relevant Laws, Rules, and Regulations

• Regulatory Compliance

• Risk Management

• Executive Presence

• Issue Management

• Policies, Procedures, and Guidelines Management

• Prioritization

• Written Communications

• Business Acumen

• Business Process Analysis

• Critical Thinking

• Negotiation

• Resource Management

Required Qualifications:

• Minimum Years of Business & Functional Experience: 15 years

• Degree Required: Bachelor’s Degree

Desired Qualifications:

• Additional Technical/Functional Experience (e.g. Industry type): Financial Services or similarly regulated sector

• Regulatory examination/registration or certifications

• Interpret Relevant Laws, Rules, and Regulations specific to Global Rates, Global FX and Futures Execution/Clearing Businesses including Primary Dealer and Futures regulations

Shift:

Hours Per Week: