3 Compliance and Operational Risk Executive- Global Technology Jobs in Pennington, NJ
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Compliance and Operational Risk Executive- Global Technology
$228k-322k (estimate)
Full Time | Banking
3 Weeks Ago
Bank of America is Hiring a Compliance and Operational Risk Executive- Global Technology Near Pennington, NJ
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 Summary:Support Global Technology ServiceNow transformation by providing workflow integration, configuration management, enterprise service management and support for AI and analytics. This is a multi-year, multi-gen effort which will require dedicated risk oversight to ensure appropriate risk management, control framework adoption and performance.
This job is responsible for leading and executing the second line of defense compliance and operational risk oversight for a Front-Line Unit, Control Function, and/or Third Parties. Key responsibilities include leading a compliance and operational risk team and 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 the team is identifying, challenging, escalating, and mitigating risks in a timely manner.
Responsibilities:
Degree Required: Bachelor’s Degree; May require regulatory
examination/registration or certification depending on jurisdiction and role
Desired Skills Additional Technical/Functional Experience (e.g.Industry type): Financial Services or similarly regulated sector
Demonstrated behaviors may include but are not limited to:
regulatory environment and emerging trends to develop strategic plans to meet the current and future needs of their organization
Hours Per Week: 40
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 Summary:Support Global Technology ServiceNow transformation by providing workflow integration, configuration management, enterprise service management and support for AI and analytics. This is a multi-year, multi-gen effort which will require dedicated risk oversight to ensure appropriate risk management, control framework adoption and performance.
This job is responsible for leading and executing the second line of defense compliance and operational risk oversight for a Front-Line Unit, Control Function, and/or Third Parties. Key responsibilities include leading a compliance and operational risk team and 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 the team is identifying, challenging, escalating, and mitigating risks in a timely manner.
Responsibilities:
- Oversees the assessment of risks, associated controls and their effectiveness, while driving compliance with applicable laws, rules, and regulations and adhering to policies
- Oversees engagement in activities which provide independent compliance and operational risk oversight of Front-Line Unit or Control Function 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
- Oversees identification and escalation of problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses
- Oversees and manages inventory of risks and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities
- Manages the development of independent risk management reporting for respective area(s) of coverage for inputs into management routines which could include country/regional governance
- Oversees monitoring of the regulatory environment to identify regulatory changes applicable to area(s) of coverage
- 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.
- Breaks down barriers to create a more inclusive environment that supports company D&I goals
- Challenges end-to-end process efficiency and effectiveness, champion data driven decision making and removes obstacles to optimize operations
- Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success
- Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization
- Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance
- Efficiently allocates and manages resources across the organization to drive short and long term profitability
- Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs
- Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage
- Regulatory Compliance
- Advisory
- Interpret Relevant Laws, Rules, and Regulations
- Decision Making
- Risk Management
- Issue Management
- Policies, Procedures, and Guidelines Management
- Executive Presence
- Prioritization
- Written Communications
- Business Process Analysis
- Resource Management
- Business Acumen
- Critical Thinking
- Negotiation
Degree Required: Bachelor’s Degree; May require regulatory
examination/registration or certification depending on jurisdiction and role
Desired Skills Additional Technical/Functional Experience (e.g.Industry type): Financial Services or similarly regulated sector
Demonstrated behaviors may include but are not limited to:
- 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
- Interprets multifaceted ideas and information to determine and communicate systemic impacts and opportunities
- Demonstrates productive partnering with various stakeholders across the enterprise at all levels
- Role models effective communication and influence; develops others on this skill
- Deep understanding of the financial industry, the organization’s strategies, how the business operates, and its financial position
- Drives the knowledge of and actions around the purpose, risks,
- Drives business improvements and solutions
- Proactively engages team/peers/stakeholders to transfer knowledge of the business
- Makes tough business and people decisions
- 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)
- Demonstrates a deep understanding of owned processes and
- Sets and translates strategy into specific actions with clear
- Maximizes and delivers performance expectations through optimizing resource needs, location strategy, and other financial levers
- Proactively identifies and removes barriers 3 Bank of America
- Anticipates, manages and guides organizational change ensuring broad buy in and removing obstacles to adoption
regulatory environment and emerging trends to develop strategic plans to meet the current and future needs of their organization
- Exhibits a deep understanding of the organization's strategy, global market and financial position
- Challenges the status quo by continually identifying and pursuing opportunities to reinvent, grow and add value to the business
- Is organizationally savvy, knows how to make connections across the enterprise to achieve better outcomes and results in an inclusive manner
- Creates and leads an environment that values diversity, where people can speak up, share bad news and get better outcomes through dialogue and debate
- Personally builds a pipeline of strong, diverse talent
- Actively manages the growth and development of talent; takes
- Broadly shares accountability and responsibility with others
- Builds motivated, high performing teams; inspires them to achieve more
- Recruits, develops and aligns talent needed to meet business goals
- Recognizes and rewards strong performers; coaches and manages lower performers
- Sets and runs a talent agenda focused on performance management, development and succession planning
- Holds all leaders accountable for cultivating talent in the organization
- 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
- Communicates risks and issues concisely, clearly and timely; drives transparency and accountability with appropriate parties
- Leads the planning, prioritization and execution of 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
- Leads, holistic and systemic, analysis integrating facts, data and
- Leverages internal/external perspectives and benchmarking to
- Thinks holistically to identify alternative solutions to problems; selects the best course of action based on data/insights in order to determine the risk and reward trade off
Hours Per Week: 40
Job Summary
JOB TYPE
Full Time
INDUSTRY
Banking
SALARY
$228k-322k (estimate)
POST DATE
06/14/2024
EXPIRATION DATE
08/04/2024
WEBSITE
bankofamerica.com
HEADQUARTERS
FARMINGTON, NM
SIZE
>50,000
FOUNDED
1968
CEO
LINDA BOYCE
REVENUE
>$50B
INDUSTRY
Banking
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About Bank of America
Bank America is an insurance company based out of P.O. BOX 15292, Richmond, Virginia, United States.
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