Full-time Compliance and Operational Risk Specialist - CFO, Bank of America

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 executing second line of defense compliance and operational risk oversight for CFO Capital activities in Bank of America's US and EMEA entities, with a particular focus on market risk capital and associated regulations. The role reviews and challenges these activities such as the calculation, governance, controls, data quality and regulatory reporting of market risk capital.

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:

Engages in activities to provide support to the Compliance and Operational Risk teams in order to 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

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

Assists in assessing risks, associated controls and their effectiveness, while driving compliance with applicable laws, rules, and regulations, adhering to policies, and developing reporting and documentation

Assists in identifying and escalating problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risks

Assists in the development of independent risk management reporting for respective area(s) of coverage as inputs into management routines

Assists in responding to regulatory inquiries and other audits or examinations

Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory

Required Skills:

02Capital Risk and/or Market Risk Experience

Compliance / Operational Risk Experience

03Minimum of 3 years’ experience in financial services

Bachelor’s Degree

Demonstrates bias for action in order to execute team priorities

Intellectual curiosity - approaches each day with a curious mindset; effectively uses inquiry to uncover facts and circumstances; consistently applies critical thinking

Communication - ability to communicate effectively and with impact, including strong writing and presentation skills

Understands the Bank of America Compliance and Operational Risk Program and how it applies to daily work activity

Applies the context to work deliverables; demonstrates understanding of the "why"

Collaboration - Develops networks and builds alliances; collaborates across boundaries to build strategic relationships and achieve common goals. Influencing and negotiating across external stakeholders (regulators) as well as internal groups

Innovative - ability to identify simpler and better ways of doing things; embraces and adapts to change well

Autonomy - self-starting, able to translate broad-strokes to actions. Actively seeks and executes on value-added opportunities Influence - ability to influence stakeholders and drive agenda

Skills:

04Monitoring, Surveillance, and Testing

Process Management

05Regulatory Compliance

Reporting

06Risk Management

Attention to Detail

07Critical Thinking

Interpret Relevant Laws, Rules, and Regulations

08Issue Management

Policies, Procedures, and Guidelines Management

09Active Listening

Advisory

10Business Process Analysis

Written Communications

Shift:

111st shift (United States of America)

• Hours Per Week:
• 40
• Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525), US - NJ - Pennington - 1600 American Blvd - Hopewell Bldg 6 (NJ2600), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

12Pay and benefits information

Pay range

$70,800.00 - $133,100.00 annualized salary, offers to be determined based on experience, education and skill set.

13Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

14Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.