Compliance & Operational Risk Manager- Global Markets & Fixed Income

Disability Solutions - New York, NY

Full-time - Mid Level

New York, NY

Administrative and Support Services

About the position

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

• 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.

Requirements

• Good knowledge of fixed income products and services
• Excellent inter-personal and communication skills, including strong verbal and written communications, and be a strong and confident presenter.
• High attention to detail, diligence and conscientiousness
• Ability to work in a dynamic and fast-paced trading floor environment
• Bachelor's Degree or equivalent experience
• 5-7+ years' experience working with fixed income products and services
• Strong knowledge of Swaps/Derivative Market
• Strong understanding of SEC, FINRA and CFTC rules and regulations
• Strong experience in dealing with regulator and exchange inquiries and exams
• Strong understanding of market misconduct laws, rules and regulations, as well as applicable surveillance controls
• Ability to think critically and proactively on the application of controls to evolving markets, systems, and risks
• Experience of working in investment bank / financial institution
• Capable of working effectively both independently and with multiple teams/individuals
• Ability to interact with staff from different areas at all levels of seniority
• The ability to work under pressure and within tight deadlines to a consistently high level of accuracy
• Ability to focus attention on detail as well as multi-task
• Show initiative and react quickly to changes in priorities
• Operational Risk Management preferably with Fixed Income product knowledge experience is advantageous
• Advanced degrees, securities licenses, or regulator experience are advantageous, but not required.

Benefits

• Competitive benefits to support physical, emotional, and financial well-being.