Sr. Business Controls Officer

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 is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

The Global Markets Business Controls Office (BCO) is responsible for the creation, maintenance and oversight of a robust supervision and control infrastructure relating to non-financial risk, including but not limited to compliance with regulatory rules and guidance as well as operational controls in partnership with the business Front Line Unit (FLU).

BCO is a global group with teams in many locations including New York, Charlotte, London, Paris, Hong Kong, Singapore and Tokyo providing control oversight to Sales, Trading, Electronic / Algorithmic and Research businesses across Global Markets in respect of regulatory and governance programs.

Position Description / Responsibilities :

BCO has an open role for a Business Controls, at VP the level, to work alongside a global team of trade surveillance specialists, focused on the Equity and Equity Derivatives Trading line of business (LOB). This position will require a good and demonstrable experience in trade surveillance alert investigation and dispositioning and a good understanding of Market Misconduct behaviors and other Trading and Sales applicable regulations related to this asset class, to support key aspects of the banks Trade Surveillance Framework in the FLU or 1st Line.

The successful candidate will report to the US Equity BCO Head in the region where they join Bank of America and will interact on a daily basis with the GM BCO Central Trade Surveillance team. As they undertake trade surveillance alert reviews related to the Equity asset class, they will be expected to propose changes to surveillance scenarios and parameter settings, call out any gaps in surveillance and venue coverage, data quality and completeness, where appropriate.

This will also work closely with the Equity LOB supervisors and senior management / COOs and other support functions (e.g., Compliance, Enterprise Independent Testing (EIT), Risk, Operations and Technology, Legal, Audit and Human Resources). Their goal will be to disposition trade surveillance alerts, identify instances where surveillance can be improved to reduce noise from false-positive alerts and to ensure the lines of business are in compliance with applicable rules, regulations and implementing industry best practices.

Profile / Skills :

Candidate must be able to thrive in a fast-paced and high-pressure environment with primary responsibilities being to :

• Work within a regional GM BCO team to review, disposition and investigate Equity Trade Surveillance alerts;
• Work with and escalate to the Central Trade Surveillance team within the GM BCO function, escalating where further investigation is required, where gaps are discovered or proposing changes / improvements to surveillance scenarios to reduce false positives alerts;
• Work as a team to maintain global transparency and consistency (where appropriate) of roles, processes and accountabilities, and enhance governance and associated documentation;
• Provide support to those interacting with Regulatory agencies (e.g. OCC, FINRA, SEC, PRA, FCA, etc.) as required;
• Work with global GM BCO and internal stakeholders to identify control gaps, design, implement and track through SIAIs remedial actions to close and continue to improve conduct and culture within the business and wider organization;
• Provide BCO input into Enterprise and Global Markets policies and procedures;
• Represent Global Markets BCO at various committees, forums and meetings as required; and
• Act as an escalation point to BCO and local FLU leadership for any items that require escalation, awareness or approval.

Experience required :

Shift :

1st shift (United States of America)

Hours Per Week :

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits informationPay range$110,000.00 - $175,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.

Salary : $110,000 - $175,000