Compliance and Operational Risk Manager- Technology Data Management
New York
Bank of America
What would you like the power to do? For you and your family, your business and your community. At Bank of America, our purpose is to help make financial lives better through the power of every connection.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:
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
Managerial Responsibilities:
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.
Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.
Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.
Skills:
Advisory
Monitoring, Surveillance, and Testing
Regulatory Compliance
Reporting
Risk Management
Critical Thinking
Influence
Interpret Relevant Laws, Rules, and Regulations
Issue Management
Policies, Procedures, and Guidelines Management
Business Process Analysis
Decision Making
Negotiation
Process Management
Written Communications
Risk manager will be responsible for assessing risks and control effectiveness for Global Technology (GT) data management practices, specifically data that GT uses to operate and to comply with laws, rules, or regulations.
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
Desired Candidate Qualifications:
• 7+ years of technology experience with a focus on data management, inventory management, technology data reporting & metrics, or other relevant discipline
• In depth expertise with technology data, including thorough knowledge of uses of data by technologists, management, and control partners
• In depth understanding of the lifecycle of data from capture through use, including data quality and movement controls
• Working knowledge of best practices for data governance including health and risk metrics, metadata management, and governance tooling
• Hands on experience with technology infrastructure management, software engineering, information security, data architecture and/or database development is preferred
Additional Desired Qualifications:
• Additional Technical/Functional Experience (e.g. Industry type): Financial Services or similarly regulated sector
Communicates and Influences with Impact:
• 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
• Demonstrates productive partnering with various stakeholders across the enterprise at all levels
• Role models effective communication and influence; develops others on this skill
Demonstrated Business Acumen:
• Deep understanding of the organization's overall strategies and how the business operates
• Deep understanding of what drives success through subject matter expertise of the products, customer and channels leveraged within the FLU
• Identifies and influences business improvements and solutions - Proactively engages team/peers to transfer knowledge of the business
• Makes tough business and people decisions
• Demonstrated behaviors may include but are not limited to:
• 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)
Delivers Results Through Management & Operational Excellence:
• Demonstrates a deep understanding of owned processes and continually seeks opportunities to simplify and improve
• Leads the execution of strategies through establishing clear accountability for self and the team
• Raises performance expectations through planning and establishing routines to ensure goals are achieved
• Proactively identifies and removes barriers
• Leads change and gets team and key stakeholders on board
Cultivate Talent & Organization:
• Creates and leads an environment that values diversity, where people can speak up, share bad news and get better outcomes through dialogue and debate
• Actively builds a pipeline of strong, diverse talent
• Actively manages the growth and development of talent; takes genuine interest in and provides support for their development
• Broadly shares accountability and responsibility with others
• Contributes to building motivated, high performing teams; inspires them to achieve more
• Recruits, develops and aligns talent needed to meet business goals
Delivers Second-Line Risk Management:
• Commanding knowledge of the Compliance & Ops Risk Program and its application to daily work activity and team priorities; educates others
• Commanding knowledge of how laws, rules and regulations apply to businesses, functions, products, jurisdictions and/or the enterprise and stays current on changes; educates others
• Understands and educates others on the business processes (design through execution), the role of effective controls and the potential impact to operational losses
• Directly or via a team, assesses for and identifies compliance and operational risks in the activities of a FLU/ECF or the Company (EAC) through monitoring, assessment and testing activities
• Directly or via a team, documents, analyzes, reports and escalates as needed risk issues (e.g., control weaknesses, violations, metric breaches); synthesizes the data for emerging trends or systemic issues
• Directly or via a team, drives the mitigation of compliance and operational risk through means such as policy reviews and updates, issue remediation/action plans, and training needs; determines approach and possible solutions
• Communicates risks and issues concisely, clearly and timely; drives transparency and accountability with appropriate parties
• Executes risk governance and management routines
• Ensures compliance and operational risks are considered in business activities, including product development and business process changes; uses risk lens when advising the business
• Escalates risks not being mitigated in a timely manner to appropriate leaders and senior management, regulators and Board of Directors as warranted
Demonstrates Analytical Capabilities
• Leads analysis integrating facts, data, and information to draw accurate conclusions in order to identify root cause
• Leverages internal/external perspectives and benchmarking to identify potential solutions
• Develops useful and realistic alternative solutions to problems; selects the best course of action based on pros, cons, timing, and available resource
Shift:
1st shift (United States of America)Hours Per Week:
40* Salary range is an estimate based on our AI, ML, Data Science Salary Index 💰
Tags: Architecture Data governance Data management Data quality Engineering Security Testing
Perks/benefits: Career development Equity / stock options Flex hours Health care Startup environment Team events Transparency
More jobs like this
Explore more AI, ML, Data Science career opportunities
Find even more open roles in Artificial Intelligence (AI), Machine Learning (ML), Natural Language Processing (NLP), Computer Vision (CV), Data Engineering, Data Analytics, Big Data, and Data Science in general - ordered by popularity of job title or skills, toolset and products used - below.
- Open Business Intelligence Developer jobs
- Open Data Science Manager jobs
- Open Data Engineer II jobs
- Open Principal Data Scientist jobs
- Open Business Data Analyst jobs
- Open BI Analyst jobs
- Open Data Scientist II jobs
- Open Business Intelligence Engineer jobs
- Open Sr Data Engineer jobs
- Open Lead Data Analyst jobs
- Open Data Science Intern jobs
- Open Sr. Data Scientist jobs
- Open Senior Business Intelligence Analyst jobs
- Open Junior Data Scientist jobs
- Open MLOps Engineer jobs
- Open Software Engineer, Machine Learning jobs
- Open Data Analytics Engineer jobs
- Open Marketing Data Analyst jobs
- Open Azure Data Engineer jobs
- Open Manager, Data Engineering jobs
- Open Data Engineer III jobs
- Open Junior Data Engineer jobs
- Open Data Analyst II jobs
- Open Product Data Analyst jobs
- Open Data Quality Analyst jobs
- Open GCP-related jobs
- Open Data quality-related jobs
- Open Excel-related jobs
- Open Privacy-related jobs
- Open Data pipelines-related jobs
- Open ML models-related jobs
- Open PhD-related jobs
- Open APIs-related jobs
- Open PyTorch-related jobs
- Open Finance-related jobs
- Open LLMs-related jobs
- Open Data visualization-related jobs
- Open TensorFlow-related jobs
- Open Business Intelligence-related jobs
- Open Deep Learning-related jobs
- Open Consulting-related jobs
- Open Generative AI-related jobs
- Open Data governance-related jobs
- Open NLP-related jobs
- Open CI/CD-related jobs
- Open DevOps-related jobs
- Open Kubernetes-related jobs
- Open Git-related jobs
- Open Hadoop-related jobs
- Open Snowflake-related jobs