Dodd Frank EAC Compliance and Operational Risk Executive

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 overseeing the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy and the Compliance and Operational Risk Management Program. Key responsibilities include executing on the Enterprise Area of Coverage (EAC) Global Compliance and Operational Risk coverage activities in a timely manner, engaging with the Front Line Unit risk teams and leaders globally to ensure regulatory requirements and operational risks are appropriately addressed. Job expectations include providing an EAC point of view for the specific area of coverage based on the risk management practices executed.

Responsibilities:

• Analyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, identify and manage risks including monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage, and maintain a comprehensive regulatory inventory; while supporting communication of regulatory changes to the Front Line Unit (FLU) and Control Function (CF) and ensuring that policies, standards, procedures, and processes are appropriately implemented or amended to address regulatory requirements

• Oversees independent risk management reporting to Global Compliance and Operational Risk senior leaders and FLU and CF senior leaders via established governance and management routines

• Oversees risk coverage plans, execution of monitoring, testing and risk assessments and communicates results, escalating when applicable

• Ensures effective measurements of key risks are established and monitored in consideration of risk coverage plans, communicates related results to FLU and CF stakeholders, provides oversight of the remediation of out of tolerance results, and escalates as appropriate

• Oversees the identification of regulatory training needs and Compliance and Operational Risk input into the development of training curriculum

• Escalates compliance and operational risks and issues to appropriate governance routines or management and board level committees

•  Ensures appropriate review and challenge of the FLU and CF Process, Risk, and Control inventory and Risk and Control Self-Assessments for Enterprise Area of Coverage specific themes and trends

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: Breaks down barriers to create a more inclusive environment that supports company D&I goals.

• Manager of Process & Data: Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations.

• Enterprise Advocate & Communicator: Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success.

• Risk Manager: Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization.

• People Manager & Coach: Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance.

• Financial Steward: Efficiently allocates and manages resources across the organization to drive short and long term profitability.

• Enterprise Talent Leader: Inspects and manages the health of the bench to ensure