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Compliance and Operational Risk Manager
manager · Risk & Compliance
Job Description:
Job Title: Compliance and Operational Risk Manager
Corporate Title: Up to Director
Location: London
Company Overview:
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 organisation.
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!
Location Overview:
Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.
Role Description:
An opportunity has arisen in our London office for a Compliance and Operational Risk Manager to join the EMEA Global Corporate & Investment Banking (GCIB) Compliance and Operational Risk team, specialising in Investment Banking.
This role is responsible for executing second line of defence compliance and operational risk oversight for the Front Line Unit. Key responsibilities include ensuring requirements of the Global Compliance Enterprise Policy, the Operational Risk Management Enterprise Policy, the Compliance and Operational Risk Management Program and Standard Operating Procedures are implemented appropriately, and identifying, challenging, escalating, and mitigating risks in a timely manner.
Responsibilities:
Provide ongoing Compliance coverage for EMEA GCIB with a particular focus on GCIB’s Investment Banking sector coverage teams including Corporate Broking and Mergers and Acquisitions. Provide additional support to other EMEA GCIB coverage areas including Capital Markets as required.
Assist in assessing risks, associated controls and metrics, and their effectiveness, while driving compliance with applicable laws, rules, and regulations, adhering to policies, and developing reporting and documentation.
Engage in activities to provide support to the Compliance and Operational Risk function to provide independent compliance and operational risk oversight of Front Line Unit performance in alignment with the Compliance and Operational Risk Management Program and Standard Operating Procedures including undertaking quarterly risk assessments for specific areas of coverage.
Assist in identifying and escalating problems or issues that arise and drive actions to address the root causes that lead to compliance risk issues and/or operational risk losses.
Assist in the development of independent risk management reporting for respective area(s) of coverage as input into management routines.
Conduct monitoring/testing routines and provide independent review and challenge to the Front Line Unit.
Assist in responding to regulatory inquiries as well as other audits and examinations.
Monitor the regulatory environment to identify regulatory changes applicable to area(s) of coverage, and execute Targeted Assessments aligned to relevant themes or trends.
Review and challenge relevant processes and risks, including those defined in Single Process Inventory (SPI).
Required Skills:
Bachelor's Degree and several years’ experience
A versatile, confident individual with significant, relevant work experience in a similar GCIB compliance and/or operational risk role, with a detailed understanding of Investment Banking (including M&A, UK Corporate Broking/Sponsor services, UK Takeover Code), private side business, and banking products.
Strong written and verbal communication skills. Ability to engage and communicate confidently and professionally with the business, as well as other internal and external stakeholders.
Knowledge of the UK, European and US regulatory framework including (but not limited to) MAR and MiFID II.
Ability to interpret relevant laws, rules, and regulations.
Confident in managing policies, procedures, and guidelines.
Skills that will help:
Global Risk Management experience
Benefits of working at Bank of America (UK):
At Bank of America, we strive to prioritise employees’ health and wellbeing – it’s what makes us a Great Place to Work.
Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner.
Competitive pension plan, life assurance, and group income protection cover if you become unable to work because of a disability or health reasons.
We offer 26-weeks paid maternity leave, 16-weeks paid paternity leave and inclusive family leave arrangements for working parents and carers including 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum
The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a well-being account, travel insurance, critical illness, cycle to work etc.
Use of a flex fund to use towards benefits
Access to an emotional wellbeing helpline, and virtual GP services
Access to the Peppy App which provides 1:1 support, consultations and resources relating to men’s health, women’s health, fertility, menopause, and pregnancy & parenthood.
Access to a range of gyms, exercise classes, and wellbeing Apps through Wellhub, including Headspace and Calm
Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area.
Bank of America:
Good conduct and sound judgment is crucial to our long-term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religious or similar philosophical belief, political opinion, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.