Back to search results Compliance & Operational Risk Manager - Global Markets New York, New York Additional locations Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge Refer a friend Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge 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 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 examinationsEngages 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 ProceduresIdentifies 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 lossesManages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activitiesAssists in the development of independent risk management reporting for respective area(s) of coverage as input into country/regional governance and management routinesAnalyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risksReviews 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 coverageProvide real-time support to the Global Credit Front-Line Unit ("FLU") with regards to the rules of the relevant products, markets and venues, and other relevant laws, rules and regulations, including internal policies, as applicable to the Global Markets Business. Develop an effective working relationship with Front Line Unit personnel and other internal departments, such as Legal, Operations, Financial Crimes Compliance, and Regulatory Reporting.Assist with responding to and coordinating regulatory inquiries. Participate in the review and challenge of business activities in line with BofA Global Compliance and Operational Risk Program.Participate, as required, in internal investigations into potential breaches of regulatory/venue requirements or Firm policy.Participate, as required, in department initiatives in respect of regulatory/market developments and impact analysis on the firm's business and support groups.Assist with the review of new business initiatives, including non-standard transactions.Review and assess activity which is escalated by Enterprise Independent Testing through surveillance activity undertaken and/or escalated directly by the FLU for potential market misconduct.Work closely with other regional Compliance and Operational Risk teams to ensure consistency in approach and best practices.Review/update Compliance and Operational Risk Policies and ensure they are consistent with global and local regulatory practices.Assist with the development of new and/or update existing Monitoring and Testing items for the Compliance and Operational Risk Program from a local and global perspective.Assist with the development and delivery of Compliance and Operational Risk training, both face-to-face and on-line.Keep abreast of regulatory change/developmentsRequired Qualifications:Minimum of seven years of relevant experienceMay require regulatory examination/registration or certification, depending on jurisdiction and roleStrong knowledge of fixed income markets, including swaps/derivatives products and servicesExcellent 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 environmentDesired Qualifications:Bachelor's Degree in a related fieldExperience in financial services and/or a similarly regulated sectorStrong experience in dealing with regulator and exchange inquiries and examsStrong understanding of market misconduct laws, rules and regulations, as well as applicable surveillance controlsStrong understanding of SEC, FINRA and CFTC rules and regulationsOperational Risk Management preferably with fixed income product knowledge experience is advantageousSkills:AdvisoryMonitoring, Surveillance, and TestingRegulatory ComplianceReportingRisk ManagementCritical ThinkingInfluenceInterpret Relevant Laws, Rules, and RegulationsIssue ManagementPolicies, Procedures, and Guidelines ManagementCredible ChallengeDecision MakingNegotiationProcess ManagementWritten CommunicationsShift:1st shift (United States of America)Hours Per Week: 40 Learn more about this role Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge Refer a friend Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge Full time JR-26023056 Manages People: No Travel: Yes, 5% of the time Age requirement: Must at least be 18 years of age. New York pay and benefits information New York pay range: $97,200.00 - $195,000.00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company. Benefits This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve Share: Save job Job saved