Compliance and Operational Risk Executive- Global Technology

at Bank of America in Chicago, Illinois, United States

Job Description

Compliance and Operational Risk Executive- Global Technology

Charlotte, North Carolina;Dallas, Texas; Chicago, Illinois; Pennington, New Jersey

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 Summary:

Support Global Technology ServiceNow transformation by providing workflow integration, configuration management, enterprise service management and support for AI and analytics. This is a multi-year, multi-gen effort which will require dedicated risk oversight to ensure appropriate risk management, control framework adoption and performance.

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.

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 Skills:

- 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.

- Breaks down barriers to create a more inclusive environment that supports company D&I goals

- Challenges end-to-end process efficiency and effectiveness, champion data driven decision making and removes obstacles to optimize operations

- Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success

- Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization

- Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance

- Efficiently allocates and manages resources across the organization to drive short and long term profitability

- Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs

- Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage

Skills:

- Regulatory Compliance

- Advisory

- Interpret Relevant Laws, Rules, and Regulations

- Decision Making

- Risk Management

- Issue Management

- Policies, Procedures, and Guidelines Management

- Executive Presence

- Prioritization

- Written Communications

- Business Process Analysis

- Resource Management

- Business Acumen

- Critical Thinking

- Negotiation

Required Skills Minimum Years of Business & Functional

Experience: 10 years

Degree Required: Bachelor’s Degree; May require regulatory

examination/registration or certification depending on jurisdiction and role

Desired Skills Additional Technical/Functional Experience (e.g.

Industry type): Financial Services or similarly regulated sector

Demonstrated behaviors may include but are not limited to:

- Communicates complex ideas in a way that is clear, direct, concise, simple and contextual; avoids jargon

- Shapes the opinions and actions of others, gaining trust & commitment for desired outcomes

- Adjusts style and personalizes message to best connect with others; inspires others to follow his/her lead

- Constructively challenges; supports opinion and recommendations with facts and data

- Shares opinion with confidence; is persistent and tenacious for what is right

- Demonstrates productive edge, appropriately voicing and challenging opinions

- Interprets multifaceted ideas and information to determine and communicate systemic impacts and opportunities

- Demonstrates productive partnering with various stakeholders across the enterprise at all levels

- Role models effective communication and influence; develops others on this skill

- Deep understanding of the financial industry, the organization’s strategies, how the business operates, and its financial position

- Drives the knowledge of and actions around the purpose, risks,

procedures, controls, and escalation requirements related to their team and related businesses

- Drives business improvements and solutions

- Proactively engages team/peers/stakeholders to transfer knowledge of the business

- Makes tough business and people decisions

- Demonstrates the ability to remain flexible and adaptable in order to learn/apply new concepts and stay current on emerging trends (i.e. new technology)

- Asks questions in an effort to understand, drawing connections and similarities in order to frame new challenges/opportunities; leverages information to take calculated risks

- Proactively brainstorms and researches a wide range of options to find the best solutions to address opportunities

- Proactively engages others for feedback as an opportunity to drive improvement (for self and the business)

- Demonstrates a deep understanding of owned processes and

continually seeks opportunities to simplify and improve

- Sets and translates strategy into specific actions with clear

accountability for the team/organization

- Maximizes and delivers performance expectations through optimizing resource needs, location strategy, and other financ