Compliance and Operational Risk Manager - Transaction Reporting
Bank of America
Job Title: Compliance and Operational Risk Manager - Transaction Reporting
Corporate Title: Up to Director
Location: Dublin or Bromley
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!
The Non-Financial Regulatory Reporting EAC has horizontal, enterprise-wide responsibility for Compliance & Operational Risk (C&OR) coverage for regulatory reports, submissions and filings that are not submitted by the Chief Financial Officer (CFO) Group. The team is based in a number of locations globally, including New York, Charlotte, London and India.
The team operates in a technically complex, fast-changing and dynamic environment with an excellent culture of growth, learning and development. By joining this team, you will gain exposure to colleagues and senior managers in Global Markets, Operations, Technology, Risk, Legal and Audit globally.
This role relates to the C&OR oversight of transaction reporting globally, which consists of high volume transaction reporting regulations (MiFID II, EMIR, SFTR, CFTC) as well as a number of lower volume regulations (for example: PTT, HKMA, MAS, JFSA, SEC, Bank of Israel). If successful, you will be expected to provide C&OR coverage for one or more of these regulations.
Day-to-day activities will include (but not limited to):
• Advising the Business, Operations and other stakeholders with the interpretation of transaction reporting regulatory requirements;
• Review & challenge of the bank’s implementation of transaction reporting, including the control framework;
• Working with the team’s data scientist to identify areas of risk and incorrect reporting practices;
• Effective assessment of new transaction reporting regulations, including interpretation and communication of changes, to ensure effective implementation within the bank’s reporting systems;
• Development of new testing activities covering transaction reporting accuracy;
• Conducting monitoring and targeted assessments;
• Developing the bank’s annual transaction reporting training;
• Periodic review of the bank’s policies relating to transaction reporting;
• Annual review and challenge of scenario analysis conducted on transaction reporting; and
• Working with Business and Operations stakeholders and C&OR teammates across the globe to promote consistency and best-in-class practices.
What we are looking for:
As an experienced VP or Director, you should have good compliance or transaction reporting experience (preferably both).
Other attributes we are looking for include:
• Logical thinker who is able to make rational, evidence-based decisions whilst knowing when to escalate, as necessary
• A flexible and solution driven perspective, and a determination and desire to find answers to complex issues
• Ability to understand the translation of laws, rules and regulations into business requirements, processes and controls
• Great written and oral communication, including the ability to articulate complex issues in a simple way and to interact with senior stakeholders effectively, confidently and with empathy
• Keen attention to detail
• Enthusiastic, responsible and dependable teammate who is also able to work independently and take ownership of their area
• Collaborator with good interpersonal skills who proactively builds relationships, with the agility and resilience to deliver results in a fast-paced, evolving space
• The ability to mentor, nurture and support more junior staff in the team and improve their levels of knowledge and understanding
• Good data analytic skills are desirable
Bank of America:
Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.