Compliance and Operational Risk Manager - Strategy and Initiatives
Company: Disability Solutions
Location: Charlotte
Posted on: October 10, 2024
Job Description:
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
coverageSkills:
- Advisory
- Regulatory Compliance
- Reporting
- Risk Management
- Written Communications
- Active Listening
- Analytical Thinking
- Interpret Relevant Laws, Rules, and Regulations
- Negotiation
- Policies, Procedures, and Guidelines Management
- Adaptability
- Business Process Analysis
- Issue Management
- Monitoring, Surveillance, and TestingAdditional
Responsibilities:
- Monitor the Regulatory environment for new and changes related
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 Qualifications
- 7+ years of experience in risk management, business controls,
enterprise-wide role, managing regulator activities or a
combination of each.
- Advanced knowledge in the use of data analytic tools (Excel,
Access, Tableau etc.)
- Advanced knowledge in the use of presentation tools; (Adobe,
PowerPoint.)
- Experience performing independent assessments of areas that
require attention with high visibility along with Issue closure
evidence reviews.
- Strong Project Management skills with the proven ability to
lead initiatives front to back independently while meeting strict
deadlines.
- Proven presentation skills: ability to analyze and synthesize
data and present key messages, recommendations, and information in
a clear, concise, and insightful way.
- Ability to influence effectively at all levels within the
organization. Desired Qualifications
- Regulatory Knowledge
- Process Improvement experience
- Knowledge of ORCIT and CIMA
- Knowledge of business continuity and operational
resiliency
- Deep Knowledge of business processes and productsShift:1st
shift (United States of America)Hours Per Week: 40
Keywords: Disability Solutions, Rock Hill , Compliance and Operational Risk Manager - Strategy and Initiatives, Executive , Charlotte, South Carolina
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