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Compliance & Op Risk Manager

Company: Disability Solutions
Location: New York
Posted on: June 11, 2024

Job Description:

Job Description:Job DescriptionAt 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!This job is responsible for executing 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.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
  • Develop an effective working relationship with F&O FLU personnel and other internal departments, such as Legal, Operations, Financial Crimes Compliance, and Regulatory Reporting.
    • Work closely with other regional Compliance and Operational Risk teams to ensure consistency in approach and best practices.Required Qualifications:
      • 7+ years of Business & Functional Experience required
      • Bachelor's degree requiredDesired Qualifications:
        • Futures and futures options clearing regulatory and / or operations related experience preferred
        • Financial Services or similarly regulated sector experience
        • Regulatory examination/registration or certificationSkills:
          • 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 CommunicationsShift:1st shift (United States of America)Hours Per Week: 40

Keywords: Disability Solutions, New York , Compliance & Op Risk Manager, Executive , New York, New York

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