Compliance and Operational Risk Manager- Global Banking Payments

Charlotte, North Carolina;New York, New York; Pennington, New Jersey

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. 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!

Job Description:

This Global Compliance and Operational Risk (GCOR) role is part of the cross-product program team supporting GCOR coverage of Global Corporate Investment Banking, Global Commercial Banking, Business Banking, Enterprise Payments, Global Research and Enterprise Credit (collectively “Global Banking Payments”).

This newly-formed team executes cross-product program activities (e.g., data, privacy) as well as supports Global Banking and Payments GCOR officers covering each of the seven front line units (FLUs) within Global Banking and Payments. Examples of potential responsibilities include generating reporting regarding program elements for the Global Banking Payments team, providing updates regarding new enterprise initiatives or requirements, assisting with regulatory exams, updating policies or drafting policies and procedures required for the team to execute its program, ensuring consistent results and output from the Global Banking and Payments GCOR FLU officers covering. This team also becomes subject matter experts on certain GCOR Program Elements as well as Enterprise requirements (e.g., Single Process Inventory, third-party requirements) relevant to Global Banking and Payments.

Other general responsibilities may include:

• Respond to regulatory inquiries, other audits, and examinations

• Engage in activities to provide independent compliance and operational risk oversight of FLU 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

• Identify and escalate problems or issues that arise and drive actions to address the root causes that lead to compliance risk issues and/or operational risk losses

• Assist in the development of independent risk management reporting

The role will be required to become familiar with all of GCOR program elements, generally understand the business activities of the FLUs in Global Banking Payments, and coordinate the program elements across these businesses.

Organization, teamwork, an eagerness to learn new things, and the ability to execute in the face of complexity are critical for this role.

Responsibilities:

Assesses risks and effectiveness of Front Line Unit (FLU) processes and controls to ensure compliance with applicable laws, rules, and regulations, while responding to regulatory inquiries, other audits, and examinations

Engages in activities to provide independent compliance and operational risk oversight of FLU or Control Function (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 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

Manages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities

Assists in the development of independent risk management reporting for respective area(s) of coverage as input into country/regional governance and management routines

Analyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks

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

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: Models an inclusive environment for employees and clients, aligned to company DI 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 Manager 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

Monitoring, Surveillance, and Testing

Regulatory Compliance

Reporting

Risk Management

Critical Thinking

Influence

Interpret Relevant Laws, Rules, and Regulations

Issue Management

Policies, Procedures, and Guidelines Management

Business Process Analysis

Decision Making

Negotiation

Process Management

Written Communications

Required and Desired Candidate Qualifications :

7+ Years of Experience

Bachelor’s Degree; May require regulatory

examination/registration or certification depending on

jurisdiction and role

Financial Services or similarly regulated sector

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "EEO is the Law" poster, CLICK HERE .

To view the "EEO is the Law" Supplement, CLICK HERE .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free workplace and alcohol policy, CLICK HERE .