Compliance & Operational Risk Manager - Global Control Room

Overview

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Responsibilities

The 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. 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 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 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.
• 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

Required Qualifications

Desired Qualifications

Skills

Shift

1st shift (United States of America)

Hours Per Week

40

Pay Transparency details

US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544) Pay and benefits information Pay range $97,200.00 - $192,200.00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and / or group; and the overall success of the Company. Benefits This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

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