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 ensuring the identification, escalation, and timely mitigation of compliance and operational risks in the country in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy and Compliance and Operational Risk Management Program and Standard Operating Procedures. Key responsibilities include proactively engaging with other Compliance and Operational Risk (COR) officers, including Enterprise and Independent Areas of Coverage, to provide comprehensive oversight of Front-Line Unit (FLU) and Control Function (CF) activities, including preparing materials for COR regulatory exams, audits, and inquiries and may provide consultation to business leaders in preparation for FLU and CF regulatory exams, audits, and inquiries. Job expectations may include Money Laundering Risk Officer activities, which may need to be approved or acknowledged by regulators.
Responsibilities:
- Executes the Compliance and Operational Risk (COR) Management Program covering activities executed in or through Bank of America entities in that country
- Ensures maintenance of a comprehensive regulatory inventory for the country, including overseeing identification and assessment of law, rule, and regulation changes affecting those areas, advising business leaders of relevant changes, directing appropriate actions by impacted COR teams, and reviewing and challenging the overall implementation plan
- Identifies, aggregates, reports, escalates, inspects, and challenges remediation plans and performs thematic analysis on Front Line Unit and Control Function owned issues and control enhancements
- Escalates key issues to the appropriate level of management
- Manage regulatory inquiries and exams in the respective country
- Specifically, manage the Associate Investment Program deliverables in line with the Japan regulations and expectations of local regulators. This would include monitoring local regulatory changes, advisory, surveillance and dealing with our approved designated broker dealers.
- Manage the Registration & Licensing program in line with the Japan regulations and expectations of local regulators. This would include processing local licensing applications for covered employees and providing second-line oversight through effective execution of the COR program.
- Conduct a comprehensive assessment of gaps between the enterprise-level privacy program and applicable local regulatory requirements and implement all necessary remediation measures. This would include the development and maintenance of locally required policies, training programs, as well as other regulatory compliance initiatives, including issue management and regulatory filings.
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.
- Models an inclusive environment for employees and clients, aligned to company D&I goals
- Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data-based decision making and continuous improvement
- Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions
- Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues
- Provides inspection, coaching and feedback to motivate, differentiate and improve performance Bank of America Proprietary
- Actively manages expenses and budgets in alignment with objectives, making sound financial decisions
- Assesses talent and builds bench strength for roles across the organization
- Delivers results by effectively prioritizing, inspecting and appropriately delegating teamwork
Required Skills:
- Minimum 7 Years experience with a bachelor's degree or equivalent experience.
- Attention to Detail
- Interpret Relevant Laws, Rules, and Regulations
- Regulatory Compliance
- Risk Management
- Written Communications
- Active Listening
- Critical Thinking
- Influence
- Issue Management
- Policies, Procedures, and Guidelines
- Decision Making
- Negotiation
- Process Management
- Relationship Building
