Electronic Trading Compliance and Operational Risk Officer

This inclusive employer is a member of myGwork – the largest global platform for the LGBTQ+ business community.

Job Description:

Job Title: Electronic Trading Compliance and Operational Risk Specialist

Location: London

Title: AVP/VP

Company Overview:

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

Location Overview:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

Role Overview:

This role is responsible for assisting the Compliance and Operational Risk team to execute compliance and operational risk oversight for Electronic Trading.

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 associated with Electronic Trading to ensure compliance with applicable Laws, Rules and Regulations (LRR).
• Engages in activities to provide independent compliance and operational risk oversight of FLU performance and any related third party/vendor relationships in alignment with the firms Electronic Trading Policy, the Compliance and Operational Risk Management Program and Standard Operating Procedures
• Analyse and interpret applicable Laws, Rules, and Regulations (LRR) to provide clear and practical advice to stakeholders and identify and manage associated gaps/risks ensuring compliance with applicable LRR.
• 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.
• Provides coverage/being a point person for specific FLU business which entails reviewing marketing material, resolving queries and discussing proposals.
• Conducts compliance and operational risk assessments of the Electronic Trading FLU, incorporating review of external loss events to assess control effectiveness.
• Develop an effective working relationship with FLU personnel and other internal departments, such as LOB Compliance, Legal, Market and Credit Risk, Operations and Regulatory Reporting.
• Work closely with other regional Electronic Trading Compliance and Operational Risk colleagues to ensure consistency in approach and best practices.
• Executes and/or provide oversight of governance and management routines.
• Identify compliance and operational risk training needs, provide subject matter expertise to support development of training curriculum, and inspect Electronic Trading business and third-party participation.
• Review of key performance metrics quantifying the effectiveness of the risk framework.
• Provides independent review and challenge of the business’s Risk & Control Self-Assessment (RCSA), MiFID Self-Assessment and other assessments and/or Audit issues.
• Escalate regulatory relations concerns to Compliance and Operational Risk Executive

Preferred experience:

• Global Markets experience eg Markets Compliance, Operations Risk or FLU related experience preferred
• Knowledge of FICC or Equity products and market structure
• Electronic Trading Risk experience

Skills:

• Monitoring, Surveillance, and Testing
• Regulatory Compliance
• Ability to review and challenge
• Risk Management
• Critical Thinking
• Interpret Relevant Laws, Rules, and Regulations
• Issue Management
• Policies, Procedures, and Guidelines Management
• Business Process Analysis
• Process Management
• Written Communications

Required Qualifications:

• Seasoned Markets related experience in a Matrixed organisation
• Bachelor’s degree in a mathematics, economics, engineering or finance related discipline.

Benefits of working at Bank of America:

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner

• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons

• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum

• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.

• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.

• Access to an Employee Assistance Program for confidential support and help for everyday matters

• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America:

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependents or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.