Compliance and Operational Risk Manager

Charlotte, NC, United States

Compliance and Operational Risk Manager page is loaded Compliance and Operational Risk Manager Apply locations Charlotte Pennington time type Full time posted on Posted 2 Days Ago job requisition id 24011084 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 executing second line of defense compliance and operational risk oversight for a Front Line Unit (FLU). Key responsibilities include oversight of FLU adherence to applicable Compliance and Operational Risk and the Compliance and Operational Risk Management Program and Standard Operating Procedures are implemented, and identifying, challenging, escalating, and mitigating risks in a timely manner.

Responsibilities:

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

Engages in activities to provide independent compliance and operational risk oversight of FLU in alignment with the Global compliance and operational risk policy, and the Compliance and Operational Risk Management Program and Standard Operating Procedures

Identifies and escalates problems or issues that arise in the FLU and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses

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 Single Process Inventory, and FLU 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

Develop an effective working relationship with FLU business controls team and other internal departments, such as Legal, Operations, Financial Crimes Compliance, and broker-dealer Supervision

Work closely with other Compliance and Operational Risk teams to ensure consistency in approach and best practices

Required qualifications:

7+ Years Business & Functional Experience

Degree Required: Bachelor’s Degree or equivalent experience

Skills:

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

Intellectually curious and dispassionately objective

Shift:

1st shift (United States of America) Hours Per Week:

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Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:

1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications.

2. Think about why you can do the job and make a list of your skills that are relative to the job.

3. Identify experiences or accomplishments that show your proficiency in the skills required for the job.

4. Summarize your abilities, accomplishments and skills into a brief, concise document.

Considerations when writing a resume

• Do be brief. Resumes should be 1-2 pages in length.

• Do be upbeat and active in your wording.

• Do emphasize what you have done clearly and concretely.

• Do be neat and well organized.

• Do have others proofread and critique your resume. Spell check. Make it error free.

• Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible.

• Don't be dishonest, always tell the truth about yourself in the most flattering light.

• Don't include salary history or requirements.

• Don't include references.

• Don't include accomplishments that do not support your professional goals.

• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)

• Don't use italics, underlining, shadows or other fancy treatments.

Seven steps to a successful interview

1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?

2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?

3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.

4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down.

5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks.

6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.

7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage.

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