Compliance and Operational Risk Executive - Global Commercial Banking

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

This job is responsible for leading and executing the second line of defense compliance and operational risk oversight for a Front Line Unit, Control Function, and/or Third Parties. Key responsibilities include leading a compliance and operational risk team and 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 the team is identifying, challenging, escalating, and mitigating risks in a timely manner.

The Global Commercial Banking, Global Compliance and Operational Risk Executive is focused on Compliance and Operational Risk coverage of Global Commercial Banking for business clients from $50M to $2B in revenue including client selection, onboarding and ongoing relationship management activities which includes client facing solutions as well as internal tools and support. The Global Commercial Banking, Global Compliance and Operational Risk Executive will manage the execution of the Compliance and Operational Risk program elements to drive a comprehensive risk-based approach for the proactive identification, management, mitigation and escalation of compliance and operational risks, as well as, representation on change initiatives in Global Compliance and Operational Risk organization.    

Responsibilities:

Responsibilities

• Oversees the assessment of risks, associated controls and their effectiveness, while driving compliance with applicable laws, rules, and regulations and adhering to policies
• Oversees engagement in activities which provide independent compliance and operational risk oversight of Front-Line Unit or Control Function 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
• Oversees identification and escalation of problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses
• Oversees and manages inventory of risks and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities
• Manages the development of independent risk management reporting for respective area(s) of coverage for inputs into management routines which could include country/regional governance
• Oversees monitoring of the regulatory environment to identify regulatory changes applicable to area(s) of coverage

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.
• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Required Qualifications:

• 10 years+ experience in Risk Management and/or Commercial Banking and/or Regulatory Compliance

Desired Qualifications:

• Financial Services or similarly regulated sector
  

Skills:

• Advisory
• Decision Making
• Interpret Relevant Laws, Rules, and Regulations
• Regulatory Compliance
• Risk Management
• Executive Presence
• Issue Management
• Policies, Procedures, and Guidelines Management
• Prioritization
• Written Communications
• Business Acumen
• Business Process Analysis
• Critical Thinking
• Negotiation
• Resource Management

Shift:

1st shift (United States of America)

Hours Per Week: 

40