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!
This job is responsible for the execution of the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy and the Compliance and Operational Risk Management (CORM) Program. Key responsibilities include identifying, escalating, and mitigating risks in a timely manner, engaging with Front Line Units and Control Functions (FLU/CF) leaders globally, coordinating with the FLU/CF Compliance and Operational Risk Officer teams, executing the CORM Program and the Policies, identifying themes and trends, and conducting analysis for new and emerging risks. The position focuses on Business Electronic Communications and Electronic Communications Retention.
Responsibilities: Assesses risks, associated controls and their effectiveness, driving compliance with applicable laws, rules, and regulations and adhering to policies
Engages in activities to provide independent compliance and operational risk oversight of Front Line Unit or Control Function (FLU/CF) 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
Identifies, manages and escalates problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses, including opening new issues based on risk severity in the centralized issues tool
Manages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities
Analyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks including monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintaining a comprehensive regulatory inventory, while supporting communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
Responds to regulatory inquiries, other audits, and examinations and identifies regulatory training needs supporting the development of the training curriculum
Reviews and challenges FLU/CF process, risk, Single Process Inventory and FLU/CF Risk and Control Self-Assessment related to themes or trends, while monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage
Will establish and manage new routines surrounding the company's Business Electronic Communications program
Manages projects surrounding Electronic Communications Retention
Managerial Responsibilities:
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: Models an inclusive environment for employees and clients, aligned to company D&I goals.
Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
People Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.
Skills: Advisory
Regulatory Compliance
Reporting
Risk Management
Written Communications
Active Listening
Analytical Thinking
Interpret Relevant Laws, Rules, and Regulations
Negotiation
Policies, Procedures, and Guidelines Management
Adaptability
Business Process Analysis
Issue Management
Monitoring, Surveillance, and Testing
Independent and takes initiative
The Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) Manager is a subject matter expert on specific processes, controls, laws, rules and/or regulations that have enterprise-wide applicability, affecting two or more Front Line Units ("FLU") or Control Functions ("CF"). This role is responsible for the execution of the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively "the Policies") and the Compliance and Operational Risk Management ("CORM") Program. The EAC C&OR Manager identifies, escalates and mitigates risks in a timely manner in alignment with the CORM Program and the Policies. The role engages with FLU/CF leaders globally, coordinating with the FLU/CF C&OR Officer teams to independently advise those leaders on effectively managing the risks related to their area of coverage. By executing the CORM Program and the Policies, the EAC C&OR Manager identifies themes and trends, conducts analysis for new and emerging risks and recommends approaches to mitigate these risks.
The EAC C&OR Manager assists in engaging other C&OR officers, including horizontal coverage owners and EAC, to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line's risk management activities. The EAC C&OR Manager also assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries
Required and Desired Candidate Qualifications 7 Years of Functional Experience
Bachelor's Degree or Equivalent experience
Shift:
1st shift (United States of America) Hours Per Week:
40
