1+ months

Compliance & Operational Risk Manager

Charlotte, NC 28230
**Job Description:**



The Compliance and Operational Risk Manager will be responsible forcoverage of CFO Group activities, which includes Capital, Liquidity, Balance Sheet Management, and Chief Investment OfficerAs a member of theEnterprise Financial and Strategic (EFAS)Compliance and Operational Riskteam,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 with any of the following activities:



Create and maintain a regulatory inventory.



Develop, monitor and test risk metrics and indicators; investigate and escalate out of threshold conditions.



Identify, aggregate, report and escalate compliance and operational risks, issues and control enhancements for CFO



Support groups work to review and challenge theEFASRisk & 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, 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 CFO participation.



Conduct compliance and operational risk assessments.



Assist with preparations for regulatory exams and audits for CFO.



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



Escalate regulatory relations concerns to Compliance and Operational Risk Executive



The Compliance and Operational Risk Managers coverage responsibilities will primarily includecoverage of theChief Financial Officer (CFO)organization **_._** Knowledge of Volcker, Regulation YY, LCR, Dodd Frank Swap Dealer, or market conduct controls a plus. Daily responsibilities include the participation in/management of all associated Compliance and Ops Risk oversight activities such as monitoring and testing routines, risk assessments, issue identification and management. The Compliance and Operational RiskManagerpartners closely with colleagues in the CFO Business and Operations teams, providing guidance on issues and initiatives impacting the specified areas of coverage in order to ensure associated laws, rules and regulations are considered and that appropriate controls are in place to mitigate any related Compliance and Operational Risks. Therolewill also assist in ensuring the applicable regulatory inventories accurately reflect the laws, rules and regulations that apply to their assigned areas of coverage and that policies and procedures are in place and adequately address associated compliance and operational risks.



Required Skills:



+ 5-7Years Compliance or Operational Risk experience

+ Demonstrated experience developing reporting packages for Sr. leadership

+ Demonstrated experience influencing & escalate regulatory relations concerns



Desired Skills:



+ Experience in CFObusiness activities

+ Strong communication skills

+ Risk, Testing, compliance, or audit experience



Enterprise Role Overview



The Compliance and Operational Risk (C&OR)Manager is responsible for engaging in activities to provide 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 an FLU or CF C&OR officer team, the C&OR Manager demonstrates and applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CORM Program objectives, balancing business strategy with appropriate controls.



The C&OR Manager contributes to the requirements in the GCOR Policy aligned to compliance and operational risk officers, including but not limited to the following activities:



Takes an active leadership role in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective process and controls so that their day-to-day activities operate in a compliant manner.

Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of FLU and CF activities.

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

Identify, review and document relevant external loss events.

Conduct compliance and operational risk assessments of FLU and CF, incorporating review of external loss events to assess control effectiveness.

Provides independent review and challenge of the FLU/CFs Risk & Control Self-Assessment (RCSA).

Leads the efforts and/or contributes to monitoring and testing coverage plans and related metrics for Front Line Unit (FLU) or Control Function (CF).

Monitor and test 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.

Contribute to Scenario Analyses to provide a forward-looking estimate of hypothetical operational losses.

Executes and/or provides oversight of governance and management routines.

Identify compliance and operational risk training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF and third party participation.

Provides consultation to business leaders in preparations for regulatory exams and audits for FLU/CF and related Enterprise Areas of Coverage.

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

Escalate regulatory relations concerns to Compliance and Operational Risk Executive.



The Compliance and Operational Risk Manager plans, drives and reviews team deliverables to support consistent quality of activities, processes and outputs. This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team, or may act as an individual contributor.



Required skills:

Minimum Years Business & Functional Experience: 7 Years

Degree Required: Bachelors Degree or equivalent experience; May require FINRA registration, Series 7, 14, 24, as indicated by job code



Desired skills:

- Financial Services or similarly regulated sector



**Posting Date** : 06/05/2019



**Location** :

Charlotte, NC, BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST,

- United States



**Travel** : Yes, 5% of the time



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



**Hours Per Week** : 40



**Shift** : 1st shift



**Assistance for Applicants with Disabilities**



Bank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please visit the Applicants with Disabilities page at http://careers.bankofamerica.com/us/applicants-with-disabilities .



**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.



**Frequently Asked Questions**



Need to know how to apply online, view a list of your submitted job applications or reset your password? Visit our FAQ at http://careers.bankofamerica.com/us/faq section for answers to these questions and more.

Industry

  • Banking / Finance
Posted: 2019-06-07 Expires: 2019-09-28

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Compliance & Operational Risk Manager

Bank of America
Charlotte, NC 28230

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