Compliance and Operational Risk Executive

Compliance and Operational Risk Executive page is loaded Compliance and Operational Risk Executive Apply locations Pennington Charlotte time type Full time posted on Posted Yesterday job requisition id 24014256

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

The Compliance and Operational Risk (C&OR) Executive supporting Merrill (Reg BI, Advisor Development Program, Digital, Social Media/Marketing, Advisor Tools, Privacy, etc.) is responsible for leadership and execution of the Compliance and Operational Risk Management (“CORM”) Program by engaging with business leaders to understand strategy and direction and independently advising those leaders on how to deliver that strategy while effectively managing compliance and operational risk. The C&OR Executive leads a team of compliance and operational risk officers responsible for maintaining independent compliance and operational risk oversight of the Merrill Front Line Unit (“FLU”) performance and any related third party/vendor relationships, through the identification, escalation and timely mitigation of compliance and operational risks in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs).

The C&OR Executive exercises judgment, influences and constructively challenges the FLU and CF leaders, provides timely advice regarding regulatory requirements and expectations, and evaluates the implementation of controls to effectively mitigate compliance and operational risk. The C&OR Executive demonstrates business acumen and remains current regarding industry and regulatory trends, benchmarks and best practices in compliance and operational risk management for his/her area of responsibility. The C&OR Executive role remains current on local country laws, rules and regulations relevant to FLU or CF.

The C&OR Executive oversees proactive engagement with other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role oversees the development and maintenance of a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Executive also advises business leaders in preparation for FLU/CF regulatory exams/audits/inquiries, participates in FLU/CF regulatory meetings, and oversees preparation of materials for C&OR regulatory exams/audits/inquiries.

The C&OR Executive provides leadership direction and attracts, assesses, develops, motivates and retains a successful team. The role ensures consistent quality of activities, processes and outputs by establishing effective review of practices across the team.

Additional Responsibilities:

• Works with Leadership Team to manage and deliver consolidated (status) reporting to Sr. Leader on Regulatory and Audit interactions
• Provides consistent approach on responses
• Evaluates requests to proactively determine horizonal impacts or future asks
• Escalates concerns to Sr. Leader and Leadership Team
• Coordinates across Leadership Team for any product initiative activities

Skills:

• 10+ years experience
• Bachelor’s Degree; May require regulatory
• examination/registration or certification depending on jurisdiction and role
• Financial Services or similarly regulated sector

Shift:

1st shift (United States of America)

Hours Per Week: 

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Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:
1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications.
2. Think about why you can do the job and make a list of your skills that are relative to the job.
3. Identify experiences or accomplishments that show your proficiency in the skills required for the job.
4. Summarize your abilities, accomplishments and skills into a brief, concise document.

 

Considerations when writing a resume
• Do be brief. Resumes should be 1-2 pages in length.
• Do be upbeat and active in your wording.
• Do emphasize what you have done clearly and concretely.
• Do be neat and well organized.
• Do have others proofread and critique your resume. Spell check. Make it error free.
• Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible.
• Don't be dishonest, always tell the truth about yourself in the most flattering light.
• Don't include salary history or requirements.
• Don't include references.
• Don't include accomplishments that do not support your professional goals.
• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)
• Don't use italics, underlining, shadows or other fancy treatments.

Seven steps to a successful interview
1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?
2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?
3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.
4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down.
5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks.
6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.
7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage.

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