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 contributing to the Compliance and Operational Risk  team to execute 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:

Assists in assessing risks, associated controls and their effectiveness, while driving compliance with applicable laws, rules, and regulations, adhering to policies, and developing reporting and documentation

Engages in activities to provide support to the Compliance and Operational Risk teams in order to 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

Assists in identifying and escalating problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses

Assists in the development of independent risk management reporting for respective area(s) of coverage as input into management routines

Assists in responding to regulatory inquiries and other audits and examinations

Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory

Skills:

Monitoring, Surveillance, and Testing

Process Management

Regulatory Compliance

Reporting

Risk Management

Attention to Detail

Critical Thinking

Interpret Relevant Laws, Rules, and Regulations

Issue Management

Policies, Procedures, and Guidelines Management

Active Listening

Advisory

Business Process Analysis

Written Communications

Business Unit Overview: 
Chief Financial Officer Compliance and Operational Risk (CFO COR) seeks to deliver effective independent compliance and operational risk oversight of the CFO Group, which is responsible for the overall financial management of our company, including managing the company’s capital, liquidity and earnings risks and publishing its financial statements, as well as providing financial planning, analysis and support to all of the company’s Front Line Units (FLUs) and Control Functions (CFs). CFO COR drives responsible growth at Bank of America by developing our teammates, promoting a diverse and inclusive culture and approaching our work with intellectual curiosity and dispassionate objectivity. CFO COR delivers its mission through a steadfast commitment to its values: managing risk well; cultivating diversity of thought and valuing different perspectives and experiences; driving an inclusive culture that promotes learning, fosters relationships and creativity; developing talent, advancing careers and creating leaders within Global Risk Management and across the company. 
 
Role Overview: 
The CFO COR Specialist is responsible for executing activities to provide independent compliance and operational risk oversight of the firm’s Treasury organization, including key functions such as, Capital, Liquidity, and Funding.

The CFO COR Specialist assists in engaging stakeholders across the CFO Group, Global Compliance and Operational Risk (GCOR), as well as other risk areas, to provide comprehensive oversight of firm’s Treasury function, including Capital, Liquidity, and Funding. This includes preparing materials for regulatory exams, audits, and other inquiries, and may assist with preparation for internal management and governance routines.  

The candidate will be responsible for developing and executing Risk oversight activities (i.e. monitoring, testing and targeted assessments), interfacing with CFO Group and Corporate Treasury stakeholders on coverage development and execution, and supporting planning and execution of tactical and strategic enhancements to the approach/framework for risk oversight of the CFO Group. 
 
Additional Responsibilities: 
The CFO COR Specialist is accountable for assisting the CFO COR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities: 

Contributes to development of risk coverage plans and executes of independent risk monitoring, testing and risk assessments 

Supports the development of independent risk management monitoring and testing activities to assess the Treasury organization, including Capital, Liquidity and Funding.

Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines 

Assists with the development, maintenance and oversight of policies and standards to ensure regulatory and operational risk requirements are appropriately addressed 

Monitors the regulatory environment to identify regulatory changes applicable to Capital and Liquidity  

Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on issues and control enhancements 

Assists in remediating CFO COR “owned” issues and control enhancements 

Reviews and challenges CFO’s Single Process Inventory (SPI) and FLU/CF Risk & Control Self-Assessment (RCSA) 

Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls 

Assists with the development of risk metrics, monitors related performance and breach remediation 

Desired Skills: 

Demonstrates bias for action in order to execute team priorities 

Intellectual curiosity - approaches each day with a curious mindset; effectively uses inquiry to uncover facts and circumstances; consistently applies critical thinking 

Communication - ability to communicate effectively and with impact, including strong writing and presentation skills 

Understands the Bank of America Compliance and Operational Risk Program and how it applies to daily work activity 

Applies the context to work deliverables; demonstrates understanding of the "why" 

Collaboration - Develops networks and builds alliances; collaborates across boundaries to build strategic relationships and achieve common goals. Influencing and negotiating across external stakeholders (regulators) as well as internal groups 

Innovative - ability to identify simpler and better ways of doing things; embraces and adapts to change well  Autonomy - self-starting, able to translate broad-strokes to actions. Actively seeks and executes on value-added opportunities  Influence - ability to influence stakeholders and drive agenda 

Leveraging Diversity - fosters an inclusive workplace where diversity and individual differences are valued and leveraged to achieve the vision and mission of the organization. Exposure and involvement with Employee Engagement initiatives including supporting Diversity & Inclusion efforts 

Required Skills:

Bachelor’s Degree or equivalent experience in related discipline 

3+ years of experience in financial services such as Corporate Treasury, Capital, Liquidity and Funding

Shift:

Hours Per Week: