Compliance and Operational Risk Manager- Technology Data Management
Company: Disability Solutions
Location: Charlotte
Posted on: May 9, 2024
Job Description:
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
executing 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:
- Assesses risks and effectiveness of Front Line Unit (FLU)
processes and controls to ensure compliance with applicable laws,
rules, and regulations, while responding to regulatory inquiries,
other audits, and examinations
- Engages in activities to provide independent compliance and
operational risk oversight of FLU or Control Function (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
- Identifies and escalates problems or issues that arise and
drives actions to address the root causes that lead to compliance
risk issues and/or operational risk losses
- Manages inventory of processes, risks, controls, and associated
metrics for risk appetite and limits, reporting violations of
compliance or regulatory activities
- Assists in the development of independent risk management
reporting for respective area(s) of coverage as input into
country/regional governance and management routines
- Analyzes and interprets applicable laws, rules, and regulations
to provide clear and practical advice to stakeholders, and identify
and manage risks
- Reviews and challenges FLU/CF process, risk, Single Process
Inventory, 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
coverageManagerial 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: Models an inclusive environment
for employees and clients, aligned to company D&I goals.
- Manager of Process & Data: Demonstrates deep process knowledge,
operational excellence and innovation through a focus on
simplicity, data based decision making and continuous
improvement.
- Enterprise Advocate & Communicator: Communicates enterprise
decisions, purpose, and results, and connects to team strategy,
priorities and contributions.
- Risk Manager: Ensures proper risk discipline, controls and
culture are in place to identify, escalate and debate issues.
- People Manager & Coach: Provides inspection, coaching and
feedback to motivate, differentiate and improve performance.
- Financial Steward: Actively manages expenses and budgets in
alignment with objectives, making sound financial decisions.
- Enterprise Talent Leader: Assesses talent and builds bench
strength for roles across the organization.
- Driver of Business Outcomes: Delivers results by effectively
prioritizing, inspecting and appropriately delegating team
work.Skills:
- Advisory
- Monitoring, Surveillance, and Testing
- Regulatory Compliance
- Reporting
- Risk Management
- Critical Thinking
- Influence
- Interpret Relevant Laws, Rules, and Regulations
- Issue Management
- Policies, Procedures, and Guidelines Management
- Business Process Analysis
- Decision Making
- Negotiation
- Process Management
- Written CommunicationsRisk manager will be responsible for
assessing risks and control effectiveness for Global Technology
(GT) data management practices, specifically data that GT uses to
operate and to comply with laws, rules, or regulations. This job is
responsible for executing 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:--- Assesses risks and effectiveness of
Front-Line Unit (FLU) processes and controls to ensure compliance
with applicable laws, rules, and regulations, while responding to
regulatory inquiries, other audits, and examinations--- Engages in
activities to provide independent compliance and operational risk
oversight of FLU or Control Function (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--- Identifies and escalates problems or issues
that arise and drives actions to address the root causes that lead
to compliance risk issues and/or operational risk losses--- Manages
inventory of processes, risks, controls, and associated metrics for
risk appetite and limits, reporting violations of compliance or
regulatory activities --- Assists in the development of independent
risk management reporting for respective area(s) of coverage as
input into country/regional governance and management routines---
Analyzes and interprets applicable laws, rules, and regulations to
provide clear and practical advice to stakeholders, and identify
and manage risks--- Reviews and challenges FLU/CF process, risk,
Single Process Inventory, 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 coverageRole Specific Skills /Managerial Skills:--- 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.--- Models an inclusive environment for
employees and clients, aligned to company D&I goals---
Demonstrates deep process knowledge, operational excellence and
innovation through a focus on simplicity, data-based decision
making and continuous improvement--- Communicates enterprise
decisions, purpose, and results, and connects to team strategy,
priorities and contributions--- Ensures proper risk discipline,
controls and culture are in place to identify, escalate and debate
issues--- Provides inspection, coaching and feedback to motivate,
differentiate and improve performance--- Actively manages expenses
and budgets in alignment with objectives, making sound financial
--- decisions--- Assesses talent and builds bench strength for
roles across the organization--- Delivers results by effectively
prioritizing, inspecting and appropriately delegating team
workDesired Candidate Qualifications:--- 7+ years of technology
experience with a focus on data management, inventory management,
technology data reporting & metrics, or other relevant
discipline--- In depth expertise with technology data, including
thorough knowledge of uses of data by technologists, management,
and control partners--- In depth understanding of the lifecycle of
data from capture through use, including data quality and movement
controls--- Working knowledge of best practices for data governance
including health and risk metrics, metadata management, and
governance tooling--- Hands on experience with technology
infrastructure management, software engineering, information
security, data architecture and/or database development is
preferredAdditional Desired Qualifications:--- Additional
Technical/Functional Experience (e.g. Industry type): Financial
Services or similarly regulated sectorCommunicates and Influences
with Impact:--- 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 ---
Demonstrates productive partnering with various stakeholders across
the enterprise at all levels--- Role models effective communication
and influence; develops others on this skillDemonstrated Business
Acumen: --- Deep understanding of the organization's overall
strategies and how the business operates--- Deep understanding of
what drives success through subject matter expertise of the
products, customer and channels leveraged within the FLU ---
Identifies and influences business improvements and solutions -
Proactively engages team/peers to transfer knowledge of the
business--- Makes tough business and people decisions---
Demonstrated behaviors may include but are not limited to: ---
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)Delivers Results Through Management & Operational
Excellence:--- Demonstrates a deep understanding of owned processes
and continually seeks opportunities to simplify and improve---
Leads the execution of strategies through establishing clear
accountability for self and the team--- Raises performance
expectations through planning and establishing routines to ensure
goals are achieved --- Proactively identifies and removes barriers
--- Leads change and gets team and key stakeholders on
boardCultivate Talent & Organization:--- Creates and leads an
environment that values diversity, where people can speak up, share
bad news and get better outcomes through dialogue and debate ---
Actively builds a pipeline of strong, diverse talent--- Actively
manages the growth and development of talent; takes genuine
interest in and provides support for their development--- Broadly
shares accountability and responsibility with others ---
Contributes to building motivated, high performing teams; inspires
them to achieve more--- Recruits, develops and aligns talent needed
to meet business goalsDelivers Second-Line Risk Management:---
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
operational risk through means such as policy reviews and updates,
issue remediation/action plans, and training needs; determines
approach and possible solutions --- Communicates risks and issues
concisely, clearly and timely; drives transparency and
accountability with appropriate parties--- Executes 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 warrantedDemonstrates
Analytical Capabilities--- Leads analysis integrating facts, data,
and information to draw accurate conclusions in order to identify
root cause--- Leverages internal/external perspectives and
benchmarking to identify potential solutions --- Develops useful
and realistic alternative solutions to problems; selects the best
course of action based on pros, cons, timing, and available
resourceShift:1st shift (United States of America)Hours Per Week:
40
Keywords: Disability Solutions, Kannapolis , Compliance and Operational Risk Manager- Technology Data Management, IT / Software / Systems , Charlotte, North Carolina
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