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GWIM Risk Manager - Policy Implementation Manager

Bank of America | Pennington NJ 08534 USA | Full Time | Posted: 03/24/2020

Job Descriptiontop

Job Description:

The GWIM Risk Manager is a role within the Compliance and Operational Risk team dedicated to ongoing review and analysis of regulator-issues, operational and litigation losses, and pending matters with the objective of collaborating on root cause analysis and controls and coverage of identified risks. 

This role will partner closely with line of business leaders, business controls managers, and other controls partners in legal and risk to identify matters that indicate operational risk to the business and establish plans to address or mitigate the risks.  It is expected that this role will represent the second line role of oversight of open risks, while providing guidance on the regulatory considerations. 

Key responsibilities for this role include:

  • Partner across the Global Regulatory Relations, GWIM Supervision and Business Controls, Legal and Risk to conduct root cause analysis of key matters and document any gaps in policies and procedures that need to be addressed by the front line unit
  • Develop and manage strong relationships across Global Risk, legal, and the front line unit, partnering effectively with them on regulatory matters and issues and remediation, where needed
  • Conduct review of compliance and operational risk monitoring and testing coverage of front line unit controls and partner with FLU risk officers to enhance coverage, where needed
  • Develop reporting and conduct trend analysis on root cause themes
  • Assess preventive and detective controls related to the processes involved in key matters and influence the FLUs to establish new or enhanced controls to address gaps in performance
  • Adhere to, and advise the FLU on adhering to, standards of the risk framework, including QA, policy management
  • Identify and assess emerging regulatory issues, themes and trends based on past and ongoing matters or regulatory engagements, and
  • Engage with various industry and advocacy groups focused on regulatory events, policies, and best practices

As part of the Policy Implementation team, the Risk Management will also   assist in driving consistent execution of the Global Compliance Enterprise Policy, the Operational Risk Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program. . This role will assist with communicating the  value of changes of the program and related processes and acts as liaison to Corporate Compliance and Operational Risk on behalf of the Compliance and Operational Risk teams who execute the Program. This role works independently to support and monitor compliance and operational risk officers’ adherence to the Global Compliance and Operational Risk (“GCOR”) Policy requirements. This role ensures that work is completed in alignment with set timelines.

In addition, this role may be responsible for partnering with the Front Line Units and Control Functions, their respective compliance/operational risk officer and Learning and Leadership Development (L&LD) teams to support the regulatory training strategy for their FLU/CF or more broadly across the company. Additional responsibilities include maintaining the Compliance Training Policy, responding to Compliance issues where training has been identified as a root cause, recommending solutions to remediate and prioritization of learning activities and capacity planning for training activities.

While an individual contributor, the Risk Manager will be an influential leader on the team and is expected to support the compliance and op risk executives in leading a collaborative and progressive culture as well as delivery of consistently high quality program activities, processes and outputs. 

Required skills:

• 5-7 years relevant experience managing processes or people across organizations and disciplines
• Bachelor’s Degree or equivalent experience
• Knowledge of the Wealth Management and/or Private Bank businesses and products
• Ability to cultivate a positive team culture, and collaborate across organizations
• Strong interpersonal skills and proven ability to build and cultivate relationships internally and across FLU’s
• Outstanding verbal and written communication skills; ability to simplify and summarize complex topics; able to demonstrate executive presence in communications
• Ability to influence effectively at all levels within the organization
• Ability to collect, synthesize, analyze and present data and information, including regulatory information on a variety of topics and individual scenarios   
• Strategic thinker comfortable with interactions with senior-level management

Prior experience in risk or on controls or issue management in the front line unit

Shift:

1st shift (United States of America)

Hours Per Week:

40

Job Detailstop

Location Pennington, NJ, 08534, United States
Categories Education/Instructor/Training

Location Maptop

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Job Code 19080861-2
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