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 job is responsible for ensuring the identification, escalation, and timely mitigation of compliance and operational risks in the countries covered, 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, including Enterprise and Independent Areas of Coverage, to provide comprehensive oversight of Front Line Unit (FLU)/Control Function (CF) activities and preparing materials for COR regulatory exams/audits/inquiries.
Job expectations may include providing assistance to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries.
Responsibilities:
Leads the execution of the Global Compliance and Operational Risk (GCOR) Program in the country, delivering each element on time, and to the required standard, including the effective review and challenge of Front Line Units and Control Functions
Provides independent country Compliance and Operational Risk (COR) reporting to GCOR senior leaders, country and regional management, and legal entity management via established governance and management routines
Understands and maintains knowledge of compliance and operational risks in the country and represents GCOR on country senior management and legal entity governance forums, reporting on current state, and escalating issues or concerns, including the communication of emerging compliance and operational risks
Engages with local regulators, 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 the country, 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 timely
Skills:
Attention to Detail
Interpret Relevant Laws, Rules, and Regulations
Regulatory Compliance
Risk Management
Written Communications
Active Listening
Critical Thinking
Influence
Issue Management
Policies, Procedures, and Guidelines
Decision Making
Monitoring, Surveillance, and Testing
Negotiation
Process Management
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