• Job Description

  Req#: 24022744

  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 assisting the Compliance and Operational Risk officer team to execute second line of defense compliance and operational risk oversight for a Front Line Unit, Control Function, and/or Third Parties. Key responsibilities include ensuring requirements of the Global Compliance Enterprise Policy, the Operational Risk Management Enterprise Policy (collectively “the Policies”), the Compliance and Operational Risk Management Program and Standard Operating Procedures are implemented and identifying, challenging, escalating, and mitigating risks in a timely manner.

  This role will be focused on executing Quality Assurance (QA) reviews of Global Technology Compliance and Operational Risk (GT COR) owned activities, including MRA remediation, Issue oversight and remediation, Targeted Assessments, and more.

  Responsibilities:

  • Assists in assessing risks, associated controls and their effectiveness, while driving compliance with applicable laws, rules, and regulations, adhering to policies, and developing reporting and documentation

  • Engages in activities to provide support to the Compliance and Operational Risk teams in order to provide independent compliance and operational risk oversight of Front Line Unit or Control Function 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

  • Assists in identifying and escalating problems or issues that arise 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 management routines

  • Assists in responding to regulatory inquiries and other audits and examinations

  • Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory

  Skills:

  • Monitoring, Surveillance, and Testing

  • Process Management

  • Regulatory Compliance

  • Reporting

  • Risk Management

  • Attention to Detail

  • Critical Thinking

  • Interpret Relevant Laws, Rules, and Regulations

  • Issue Management

  • Policies, Procedures, and Guidelines Management

  • Active Listening

  • Advisory

  • Business Process Analysis

  • Written Communications

  Required and Desired Qualifications:

  Minimum Years of Business & Functional Experience: 5 years
  Degree Required: Bachelor’s Degree or equivalent experience
  Desired Skills Additional Technical/Functional Experience (e.g. Industry type): Process & Project Management; Quality Assurance review experience; familiarity with the company's Issues Management policies and procedures
  
  Communicates and Influences with Impact:
  • Written and oral communications are clear, direct, concise and simple; avoids jargon
  • Applies the context to work deliverables; demonstrates understanding of the "why"
  • Adjusts style and personalizes message to best connect with others
  • Supports opinion and recommendations with facts and data
  • Shares opinion with confidence; stands up for what is right
  Demonstrates Business Acumen:
  • Understands the organization’s overall strategy and how the business
  operates
  • Understands the purpose, risks, procedures, controls, and escalation
  requirements related to their job
  • Identifies and suggests business improvements and solutions
  • Supports transfer of knowledge of the business to others
  • Demonstrates Learning

  
  Agility:
  • Demonstrates the ability to remain flexible and adaptable in order to
  learn/apply new concepts and stay current on emerging trends (i.e.
  new technology)
  • Asks questions to understand, drawing connections and
  similarities in order to frame new challenges/opportunities; leverages
  information to take calculated risks
  • Proactively brainstorms and researches a wide range of options to
  find the best solutions to address opportunities
  • Proactively engages others for feedback as an opportunity to drive
  improvement (for self and the business)

  
  Delivers Results:
  • Demonstrates bias for action in order to execute business priorities -
  Holds self and others accountable for consistent quality execution of
  procedures, controls, and risk escalation
  • Demonstrates and encourages collaboration within and beyond team
  • Advocates the value of change and gets team and key stakeholders on
  board Cultivate Talent & Organization:
  • Actively supports and participates in an environment that values
  diversity, where people can speak up, share bad news and get better
  outcomes through dialogue and debate
  • Supports opportunities to build a pipeline of strong, diverse talent
  • Supports the growth and development of junior talent; provides peer
  coaching and feedback Delivers Second-Line Risk

  
  Risk Management:
  • Understands the Compliance & Ops Risk Program and how it applies
  to daily work activity
  • Knows how laws, rules and regulations apply to businesses, functions,
  products, jurisdictions and/or the enterprise
  • Understands the business processes (design through execution), the
  role of effective controls, and the potential impact to operational
  losses
  • Assesses for and identifies compliance and operational risks in the
  activities of a FLU/ECF or the Company (EAC) through monitoring,
  assessment and testing activities
  • Documents, analyzes, reports and escalates as needed risk issues
  (e.g., control weaknesses, violations, metric breaches)
  • Mitigates compliance and operational risk through means such as
  policy reviews and updates, issue remediation/action plans, and
  training needs
  • Communicates risks and issues concisely, clearly and timely; drives
  transparency and accountability with appropriate parties
  • Supports the execution of risk governance and management routines
  • Escalates risks not being mitigated in a timely manner to appropriate
  leaders and senior management Demonstrates Analytical Abilities:
  • Analyzes and integrates facts, data and information to draw accurate
  conclusions in order to identify root cause
  • Recommends useful and realistic alternative solutions to problems
  Manages Projects: Demonstrated behaviors may include but are not limited to:
  • Supports the development of plans to guide project execution
  • Supports the assessment of upstream and downstream impacts
  associated with project related decisions and/or changes
  • Executes projects assigned and clarifies tasks and supports team
  members and other key stakeholders

  Shift:

  1st shift (United States of America)

  Hours Per Week:

  40

• About the company

  Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

Notice