EAC Compliance and Operational Risk Manager
Company: Disability Solutions
Location: Charlotte
Posted on: April 20, 2024
Job Description:
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 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.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 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
coverageSkills:
- 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 TestingJob Description and Role
Responsibilities: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 moreFront 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/inquiriesRequired
and Desired Candidate Qualifications: - 7+ years' experience-
Bachelor's Degree or Equivalent experience- In depth knowledge of
or certification in law, rule, regulation or area of coverageJob
Description SummaryThe Global Control Room (GCR) has a
business-critical role to mitigate legal, compliance and
reputational risk within the firm and is responsible for managing
the flow of Material Non-Public Information between different areas
within Global Banking, Global Markets & International business
lines.GCR also plays a key role in assisting lines of business in
implementing, monitoring, testing and enforcing the Enterprise
Information Wall Policy.This position is part of the Americas
Control Room covering US, Canada, and Latin America.
Responsibilities of the role include but are not limited to:
- Review Investment Banking ("IB") transactions for potential
addition(s) to the Watch List and/or Restricted List. Follow up
with IB to receive deal updates.
- Review of Sustainability & Global Research reports prior to
public dissemination against the Watch or Restricted List in
accordance with Laws, Rules, and Regulations.
- Provide Global Markets principal/firm trade preclearance on
restricted list issuers.
- Provide information wall subject matter expertise/consultation
to support all lines of business and support partners.
- Assist with the training of new hires and junior team
members.
- Respond to AMRS regulatory Inquiries, lead/facilitate meetings
with Research Legal and Investment Banking Legal.
- Manage day to day Control Room processes.
- Assist AMRS manager in Quality Assurance reviews for the AMRS
team.
- Provide training and awareness to the lines of business and
their support partners on information wall topics.
- Contribute to global technology initiatives via idea
generation, UAT testing or working alongside Global Tech and
Operations support partners.Shift:1st shift (United States of
America)Hours Per Week: 40
Keywords: Disability Solutions, Huntersville , EAC Compliance and Operational Risk Manager, Executive , Charlotte, North Carolina
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