EAC Compliance and Operational Risk Manager

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!Job Description:This job is responsible for the execution of the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy and the Compliance and Operational Risk Management (CORM) Program. Key responsibilities include identifying, escalating, and mitigating risks in a timely manner, engaging with Front Line Units and Control Functions (FLU/CF) leaders globally, coordinating with the FLU/CF Compliance and Operational Risk Officer teams, executing the CORM Program and the Policies, identifying themes and trends, and conducting analysis for new and emerging risks.Responsibilities:Assesses risks, associated controls and their effectiveness, driving compliance with applicable laws, rules, and regulations and adhering to policies.Engages in activities to provide independent compliance and operational risk oversight of Front Line Unit or Control Function (FLU/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, including opening new issues based on risk severity in the centralized issues tool.Manages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities.Analyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks including monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintaining a comprehensive regulatory inventory, while supporting communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements.Responds to regulatory inquiries, other audits, and examinations and identifies regulatory training needs supporting the development of the training curriculum.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.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.Diversity & 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.Skills:AdvisoryRegulatory ComplianceReportingRisk ManagementWritten CommunicationsActive ListeningAnalytical ThinkingInterpret Relevant Laws, Rules, and RegulationsNegotiationPolicies, Procedures, and Guidelines ManagementAdaptabilityBusiness Process AnalysisIssue ManagementMonitoring, Surveillance, and TestingJob Description and Role Responsibilities:The Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) Manager is a subject matter expert on specific processes, controls, laws, rules and/or regulations that have enterprise-wide applicability, affecting two or more Front Line Units (“FLU”) or Control Functions (“CF”). This role is responsible for the execution of the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program.

Responsibilities include but not limited to:Monitor the Regulatory environment for new and changing related Federal and State Regulatory requirements, expectations, and interpretations.Partner with Legal to interpret Regulatory requirements and Legal precedence into actionable guidance.Draft, update and clarify enterprise policy and standards to drive meaningful expectations of front-line units.Develop, review, and monitor compliance training to educate and inform key stakeholders.Determine applicable business activities and front-line units for ongoing oversight.Establish, inspect, and maintain risk owned testing to identify emerging risks.Monitor applicable frontline unit activities, routines, and results to actively assess front-line unit controls.Identify, review, aggregate, report and monitors issues and control enhancements to identify themes and address emerging risks.Plan, execute and report targeted and annual risk assessments of applicable front-line units.Participate in Audits and Regulatory examinations including response preparation, reviews, and presentations.Communicate risk points of view to leadership teams for awareness and escalation.Required and Desired Candidate Qualifications:- 7+ years’ experience- Bachelor’s Degree or Equivalent experience- In depth knowledge of or certification in law, rule, regulation or area of coverage (e.g. Fair Credit Reporting Act (FCRA) or Servicemember Civil Relief Act (SCRA))Shift:1st shift (United States of America)Hours Per Week:40

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