Senior Country Compliance and Operational Risk Manager

Job Description:

Job Title: Senior Country Compliance and Operational Risk Manager

Corporate Title: Up to Director

Location: Zurich

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:

With our head office in Dublin and partnering with BofA’s other hub locations in London and Paris, the EU Compliance and Operational Risk team is geographically spread across the EU with colleagues based in each of our physical EU domiciled branches. You will be joining a high performing and motivated team of regulatory compliance and operational risk professionals who pride themselves on maintaining exceptional standards across the 2nd line of defence to support a leading institutional business franchise.

Role Description:

This job is responsible for leading the compliance and operational risk coverage for Switzerland. This will include ensuring the identification, escalation, and timely mitigation of compliance and operational risks in Switzerland, 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 proactively engaging with other Compliance and Operational Risk (COR) officers in the region as well as the US, including Enterprise and Independent Areas of Coverage, to provide comprehensive oversight of Front-Line Unit (FLU)/Control Function (CF) activities and managing branch related regulatory exams/audits/inquiries including assisting front line and control functions in preparation for same.

Responsibilities:

• Leads the execution of the Global Compliance and Operational Risk (GCOR) Program in Switzerland, delivering each element on time, and to the required standard, including the effective review and challenge of FLU’s and CF’s

• Provides independent country Compliance and Operational Risk (COR) reporting and timely escalation to GCOR senior leaders, country and regional management, and legal entity management via established governance and management routines

• Understands and maintains knowledge of Swiss regulatory compliance obligations and operational risk impacting the Switzerland based branch and broader BofA business initiatives in country

• In conjunction with Global Regulatory Relations, manages regulatory inquiries and exams in the respective country, participating in meetings between business leaders and regulators and supporting responses to regulatory inquiries on COR functions

• Ensures maintenance of a comprehensive regulatory inventory for Switzerland, including identification and assessment of law, rule and regulation changes affecting activities in the country, advising business leaders of relevant changes, directing appropriate actions by impacted COR teams, and review and challenge of the overall implementation plan to meet new requirements

• Ensures Compliance and Operational Risk “owned” issues (i.e., Internal Audit, Regulator, and Self-Identified issues) are addressed appropriately and in accordance with applicable deadlines

• Proactively engages with other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage to support in providing comprehensive oversight of the business’ respective operations and activities.

• Reviews and challenges to business processes, new products, risk identification, control inventory and Risk & Control Self Assessments.

• Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls

What we are looking for:

• Bachelor's degree. Law degree (Master or equivalent) is highly recommended.

• Several years of relevant experience at a similar global financial institution, legal or compliance department, Law firm or professional services/consulting firms

• Must be fluent in German and English and additional European language skills would be a plus

• Deep knowledge of the Switzerland regulatory landscape, especially in an institutional/corporate banking context

• Deep understanding of compliance and risk management frameworks in the European Union including risk management best practices and operating structures in global banks

• Knowledge and experience on the business activities conducted in Switzerland including Corporate & Investment Banking and Financial Markets would be desirable

Skills that will help:

• Regulatory Compliance

• Risk Management experience

• Interpret Relevant Laws, Rules, and Regulations

• Written Communications

• Critical Thinking

• Influence

• Relationship Building

• Attention to Detail

• Issue Management

• Active Listening

• Policies, Procedures, and Guidelines

• Decision Making and Judgement

• Negotiation

• Process Management

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 gender, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, membership of the Traveller community, age, sexual orientation, pregnancy or maternity, civil status,  socio-economic background, family status 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.