Job Highlights Title Compliance/Operational Risk Manager Type Full Time Experience 7 Years Function Risk Management Location Chicago, IL, United States Company Bank of America Company Profile 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.
Job Profile The bank is hiring a Compliance/Operational Risk Manager who will be responsible for executing the second line of defense compliance and operational risk oversight for a Front-Line Unit, Control Function, or Third Parties.
The 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 on time.
Education Level Bachelor's Degree (required) Work Experience Minimum 7 years of years of business and functional experience Duties/Responsibilities Analyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks. 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. Assists in the development of independent risk management reporting for the respective area(s) of coverage as input into country/regional governance and management routines. 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 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. 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 the area(s) of coverage. Skills/Knowledge/Abilities Advisory Business Process Analysis Critical Thinking Decision Making Influence Interpret Relevant Laws, Rules, and Regulations Issue Management Monitoring, Surveillance, and Testing Negotiation Policies, Procedures, and Guidelines Management Process Management Regulatory Compliance Reporting Risk Management Written Communications Desired Skills Communicates and influences with impact Delivers results through management and operational excellence Delivers second-line risk management Demonstrated behaviors Demonstrated business acumen Demonstrates analytical capabilities Networking Benefits/Perks The bank offers a variety of competitive programs and benefits that support your physical, emotional, and financial wellness at work and home. Employer's Statement Bank of America (including affiliates) is an Equal Opportunity Employer. The bank considers all qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status, or any factor prohibited by law.
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