1+ months

Compliance and Operational Risk Specialist - Wholesale Credit and Commercial Banking

New York, NY 10176
  • Jobs Rated
**Job Description:**

The Compliance and Operational Risk Specialist assists the Compliance and Operational Risk officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit (FLU) and Control Function (CF) performance and any related third party/vendor relationships in alignment with the Global Compliance Enterprise Policy, the Operational Risk Enterprise Policy (collectively the Policies) and the Compliance and Operational Risk Management (CORM) Program and Standard Operating Procedures (SOPs)). As a member of a FLU or CF compliance and operational risk officer team, this role applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks by assisting FLU or CF Compliance and Operational Risk teams with any of the following activities:

Create and maintain a regulatory inventory.

Update relevant policies to ensure they reflect regulatory requirements for FLU/CF.

Conduct compliance and operational risk assessments.

Support groups work to review and challenge the FLU/CFs Risk & Control Self-Assessments (RCSA)

Contribute to monitoring and testing coverage plans and related metrics.

Conduct monitoring and testing activities to check the effectiveness of the front line unit and control function compliance and operational risk controls.

Identify, aggregate, report and escalate compliance and operational risks, issues and control enhancements for FLU/CF.

Identify, collect, validate and record internal loss events and near misses. Contribute to root cause analyses on internal loss events and develop remediation plans to strengthen controls.

Identify, review and document relevant external loss events.

Assist in the execution of governance and management routines.

Identify compliance and operational risk training needs and inspect FLU/CF and third party participation for FLU/CF.

Assist with preparations for regulatory exams and audits for FLU/CF.

Inspect that commitments made regarding actions in response to Matters Requiring Attention (MRAs) and other actions are completed for FLU/CF.

Escalate regulatory relations concerns to Compliance and Operational Risk Manager or Executive.

**Required Skills:**

5-7 years experience in Global Banking with focus on compliance/risk or 5-7 years experience in financial services compliance/risk

Understanding of the Wholesale Credit underwriting and monitoring processes and systems

Bachelors Degree or Equivalent

Knowledge of the financial services industry and regulatory requirements

Strong analytical and organizational skills with a focus on attention to detail and accuracy

Demonstrate strong verbal and written communication skills

Effective presentation skills including the ability to explain results of complex analysis at a level that resonates across many different audiences

Proficiency in Microsoft Office (Word, Excel, PowerPoint, Outlook)

**Desired Skills:**

Operational Risk Management experience

**Posting Date** : 07/05/2019

**Location** :


- United States

**Travel** : No

**Full / Part-time** : Full time

**Hours Per Week** : 40

**Shift** : 1st shift

**Assistance for Applicants with Disabilities**

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**Diversity & Inclusion**

At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

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  • Banking / Finance

Jobs Rated Reports for Compliance Officer

Posted: 2019-04-18 Expires: 2019-09-05

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Compliance and Operational Risk Specialist - Wholesale Credit and Commercial Banking

Bank of America
New York, NY 10176

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Compliance Officer
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Overall Rating: 25/220
Median Salary: $67,870

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