EAC Compliance and Operational Risk Manager- Servicemembers Civil Relief Act

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 the execution of the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy and the Compliance and Operational Risk Management (CORM) Program. Key responsibilities include identifying, escalating, and mitigating risks in a timely manner, engaging with Front Line Units and Control Functions (FLU/CF) leaders globally, coordinating with the FLU/CF Compliance and Operational Risk Officer teams, executing the CORM Program and the Policies, identifying themes and trends, and conducting analysis for new and emerging risks.Responsibilities:• Assess risks, the associated controls and their effectiveness, driving compliance with applicable laws, rules and regulations, and adhering to policies• Engage in activities to provide independent compliance and operational risk oversight of Front Line Unit or Control Function (FLU/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• Identify and escalate problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses, including opening new issues based on risk severity• Partner with Legal to analyze and interpret applicable laws, rules and regulations to provide clear and practical advice to stakeholders, and identify and manage risks• Includes monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintaining a comprehensive regulatory inventory• Communicate regulatory changes to the FLU/CF and ensure policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements• Draft, update and clarify enterprise policy and standards to drive meaningful expectations of front-line units• Develop, review and monitor compliance training to educate and inform key stakeholders.• Monitor applicable FLU/CF activities, routines and results to actively assess FLU/CF controls.• Identify, review, aggregate, report and monitor issues and control enhancements to identify themes and address emerging risks.• Plan, execute and report targeted and annual risk assessments of applicable front-line units.• Respond to regulatory inquiries, other audits and examinations and identify regulatory training needs supporting the development of related curriculum• Review and challenge FLU/CF processes, risks, published documentation 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 coverageSkills:• Advisory• Regulatory Compliance• Reporting• Risk Management• Written Communications• Active Listening• Analytical Thinking• Interpret Relevant Laws, Rules, and Regulations• Negotiation• Policies, Procedures, and Guidelines Management• Adaptability• Business Process Analysis• Issue Management• Monitoring, Surveillance, and TestingAdditional Role Responsibilities:The Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) Manager is a subject matter expert on specific processes, controls, laws, rules and/or regulations that have enterprise-wide applicability, affecting two or moreFront Line Units (“FLU”) or Control Functions (“CF”). This role is responsible for the execution of the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program.Responsibilities include but not limited to:• Monitor the Regulatory environment for new and changing related Federal and State Regulatory requirements, expectations, and interpretations.• Partner with Legal to interpret Regulatory requirements and Legal precedence into actionable guidance.• Draft, update and clarify enterprise policy and standards to drive meaningful expectations of front-line units.• Develop, review, and monitor compliance training to educate and inform key stakeholders.• Determine applicable business activities and front-line units for ongoing oversight.• Establish, inspect, and maintain risk owned testing to identify emerging risks.• Monitor applicable frontline unit activities, routines, and results to actively assess front-line unit controls.• Identify, review, aggregate, report and monitors issues and control enhancements to identify themes and address emerging risks.• Plan, execute and report targeted and annual risk assessments of applicable front-line units.• Participate in Audits and Regulatory examinations including response preparation, reviews, and presentations.• Communicate risk points of view to leadership teams for awareness and escalation.Required and Desired Candidate Qualifications:• 5-7 years of relevant Compliance, Operational Risk or Business Controls experience• Bachelor’s Degree or Equivalent experience• In depth knowledge of or certification in law, rule, regulation or area of coverage (e.g., Fair Credit Reporting Act (FCRA) or Servicemember Civil Relief Act (SCRA))• Ability to extract and analyze data to identify gaps and summarize findings for executive management• Ability to perform root cause analysis and recommended improvements• Effective communication skills (written and oral), ability to present complex information• Ability to understand and advise on Laws, Rules and Regulations to applicable business processes• Knowledge of control design, test design and testing of operational effectivenessShift:1st shift (United States of America)Hours Per Week:40