Jersey City, New Jersey

Job Description:

The Compliance and Operational Risk ("C&OR") Specialist assists the C&OR officer team in activities to contribute to the 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 ("CORM") Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage ("EAC"), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line's risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR 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:

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
• Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
• Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
• Assists in remediating C&OR "owned" issues and control enhancements
• Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory 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

Assist the ISG Investment Products - Markets (IP-Markets) Compliance & Operational Risk ("COR") team in activities that contribute to the independent oversight of Front Line Unit ("FLU") and Control Function ("CF") performance and any related third party/vendor relationships in alignment with the COR Program.

As an individual contributing member of the IP-Markets COR team, the candidate will assist in promoting a culture of compliance and the identification, escalation and timely mitigation of compliance & operational risks by assisting in any of the following COR activities & processes:
• Conduct Targeted Risk Assessments.
• Contribute to monitoring and testing coverage plans and related metrics.
• Monitor and test the effectiveness of the FLU's controls
• Identify, aggregate, report and escalate compliance & operational risks, issues and control enhancements for Merrill Lynch Wealth Management lines of business, including Market Linked Investments.
• represent GCOR at governance forums such as Product Management and Investment Committee and the Business Control Council (BCC).
• Provide independent review and challenge of FLU's processes and controls
Assist with preparations for regulatory exams and audits for FLU/CF.
• Inspect that commitments made regarding actions in response to Matters Requiring Attention ("MRAs") and other actions are completed for FLU/CF.
• Escalate regulatory relations concerns to Compliance Manager or Executive.

Required Skills:
• 3-5 Years Business & Functional Experience
• Degree Required: Bachelor's Degree or equivalent experience
• Ability to effectively navigate the Bank of America organization to identify key subject matter experts and governance requirements
• Excellent communication skills; able to communicate complex ideas in a clear, direct, concise and simple way; ability to interact with individuals at all levels of the organization
• Strong organizational skills and high attention to detail
• Ability to work under pressure and meet various competing requirements
• Intellectually curious, persistent and tenacious
• Prior experience in Compliance, Risk or Audit
• Advanced Degree

Job Band:
H5

Shift:
1st shift (United States of America)

Hours Per Week:
40

Weekly Schedule:

Referral Bonus Amount:
0
--> Job Description:

The Compliance and Operational Risk ("C&OR") Specialist assists the C&OR officer team in activities to contribute to the 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 ("CORM") Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage ("EAC"), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line's risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR 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:

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
• Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
• Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
• Assists in remediating C&OR "owned" issues and control enhancements
• Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory 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

Assist the ISG Investment Products - Markets (IP-Markets) Compliance & Operational Risk ("COR") team in activities that contribute to the independent oversight of Front Line Unit ("FLU") and Control Function ("CF") performance and any related third party/vendor relationships in alignment with the COR Program.

As an individual contributing member of the IP-Markets COR team, the candidate will assist in promoting a culture of compliance and the identification, escalation and timely mitigation of compliance & operational risks by assisting in any of the following COR activities & processes:
• Conduct Targeted Risk Assessments.
• Contribute to monitoring and testing coverage plans and related metrics.
• Monitor and test the effectiveness of the FLU's controls
• Identify, aggregate, report and escalate compliance & operational risks, issues and control enhancements for Merrill Lynch Wealth Management lines of business, including Market Linked Investments.
• represent GCOR at governance forums such as Product Management and Investment Committee and the Business Control Council (BCC).
• Provide independent review and challenge of FLU's processes and controls
Assist with preparations for regulatory exams and audits for FLU/CF.
• Inspect that commitments made regarding actions in response to Matters Requiring Attention ("MRAs") and other actions are completed for FLU/CF.
• Escalate regulatory relations concerns to Compliance Manager or Executive.

Required Skills:
• 3-5 Years Business & Functional Experience
• Degree Required: Bachelor's Degree or equivalent experience
• Ability to effectively navigate the Bank of America organization to identify key subject matter experts and governance requirements
• Excellent communication skills; able to communicate complex ideas in a clear, direct, concise and simple way; ability to interact with individuals at all levels of the organization
• Strong organizational skills and high attention to detail
• Ability to work under pressure and meet various competing requirements
• Intellectually curious, persistent and tenacious
• Prior experience in Compliance, Risk or Audit
• Advanced Degree

Job Band:
H5

Shift:
1st shift (United States of America)

Hours Per Week:
40

Weekly Schedule:

Referral Bonus Amount:
0
Job Description:

The Compliance and Operational Risk ("C&OR") Specialist assists the C&OR officer team in activities to contribute to the 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 ("CORM") Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage ("EAC"), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line's risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR 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:

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
• Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
• Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
• Assists in remediating C&OR "owned" issues and control enhancements
• Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory 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

Assist the ISG Investment Products - Markets (IP-Markets) Compliance & Operational Risk ("COR") team in activities that contribute to the independent oversight of Front Line Unit ("FLU") and Control Function ("CF") performance and any related third party/vendor relationships in alignment with the COR Program.

As an individual contributing member of the IP-Markets COR team, the candidate will assist in promoting a culture of compliance and the identification, escalation and timely mitigation of compliance & operational risks by assisting in any of the following COR activities & processes:
• Conduct Targeted Risk Assessments.
• Contribute to monitoring and testing coverage plans and related metrics.
• Monitor and test the effectiveness of the FLU's controls
• Identify, aggregate, report and escalate compliance & operational risks, issues and control enhancements for Merrill Lynch Wealth Management lines of business, including Market Linked Investments.
• represent GCOR at governance forums such as Product Management and Investment Committee and the Business Control Council (BCC).
• Provide independent review and challenge of FLU's processes and controls
Assist with preparations for regulatory exams and audits for FLU/CF.
• Inspect that commitments made regarding actions in response to Matters Requiring Attention ("MRAs") and other actions are completed for FLU/CF.
• Escalate regulatory relations concerns to Compliance Manager or Executive.

Required Skills:
• 3-5 Years Business & Functional Experience
• Degree Required: Bachelor's Degree or equivalent experience
• Ability to effectively navigate the Bank of America organization to identify key subject matter experts and governance requirements
• Excellent communication skills; able to communicate complex ideas in a clear, direct, concise and simple way; ability to interact with individuals at all levels of the organization
• Strong organizational skills and high attention to detail
• Ability to work under pressure and meet various competing requirements
• Intellectually curious, persistent and tenacious
• Prior experience in Compliance, Risk or Audit
• Advanced Degree

Shift:
1st shift (United States of America)

Hours Per Week:
40
Learn more about this role

Jersey City, New Jersey

You’ve led troops, now help lead your community 

As a leader in the military, you motivated troops to get the job done. We value your ability to influence change and encourage you to continue that influence here and in our communities. Our Military Affairs Team proudly supports veterans in our communities through education and volunteer events. Together, we can create better communities and a brighter future for us all. 

First you fought for the American dream, now you can guide its future

You joined the military to protect a nation and its people. Let the same passion for making a difference lead you to a new career. At Bank of America, we’re proud that more than 6,800 veterans work for us. They’ve discovered that their desire to help others didn’t end with their service. Here, you’ll help our customers and clients connect to better financial lives.

Similar jobs