Compliance and Operational Risk Manager

5 hours ago

Toronto, Canada Bank of America Full time

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

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**
- 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.
- Manage Wall crossings
- Respond to Americas regulatory Inquiries, facilitate meetings with Research Legal and Investment Banking Legal.
- Contribute to global technology initiatives via idea generation, User Acceptance 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
- Point of Contact for Enterprise Information Wall (Policy and Standard) for all Vertical Lines of Business in region
- Creation and Maintenance of additional SPI (Controls, Metrics, and Thresholds) to be aligned with new processes
- Documented training for all employees, including new hires, annually (Includes Laws Rules and Regulations, Case Studies, Resources and Escalation process, including links to policies).

**Skills**
- Advisory
- Monitoring, Surveillance, and Testing
- Regulatory Compliance
- Reporting
- Risk Management
- Critical Thinking
- Influence
- Interpret Relevant Laws, Rules, and Regulations
- Issue Management
- Policies, Procedures, and Guidelines Management
- Business Process Analysis
- Decision Making
- Negotiation
- Process Management
- Written Communications

**What Bank of America Offers**

Bank of America embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Bank of America for our clients, our shareholders and our employees.

Bank of America places a high val

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