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Compliance & Operational Risk Manager

Bank of America

Bank of America

London, UK
Posted on Tuesday, October 31, 2023

Job Description:

Job Title: Compliance and Operational Risk Manager

Corporate Title: up to Director

Location: London

Company Overview:

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!

Location Overview:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

The Team:

You will be a member of the Swap and SBS (Security-Based Swap) Dealer Compliance and Risk team that currently has teammates in New York, Charlotte, Washington DC and London. With the exposure from this role you will have the opportunity for career development and collaboration with a variety of stakeholders. The team operates in a fast-changing and dynamic environment with an excellent culture of growth, learning and development.

Role Description:

Your role within the Team will be to advise internal stakeholders on regulatory requirements that pertain to Bank of America’s Swap and SBS dealers. You will advise on processes, laws, rules and regulations that have enterprise-wide applicability.  You will engage with senior stakeholders globally, effectively understanding and advising of the risks related to their area of coverage. After identifying themes and trends you will commit to conduct reviews and recommendations for new and emerging risks.


• Support the Chief Compliance Officers in administering their duties to oversee the Company’s swap and SBS dealer compliance and operational risk program

• Assist with drafting Annual Reports for the Swap and SBS dealers and develop reporting for Senior Executives

• Advise your coverage space on regulatory requirements, developments, and expectations across various swap and SBS dealer requirements

• Serve as liaison to internal and external stakeholders, including regulatory examiners

• Assist in developing Monitoring & Testing and Governance routines

• Assist with the development of training for associates

• Provide oversight and guidance over the assessment of issues, structure potential solutions and drives effective resolution with other stakeholders

What we are looking for:

• Risk and compliance experience of CFTC, SEC, and NFA swap and SBS dealer regulations

• Over-the-counter derivative products and market structure working knowledge

• Understanding of trade processing systems and technology

• Experience building or having input into the creation of surveillance reports and testing models

• Experience of writing and implementing policies and procedures

• Clear communication style

• Enthusiastic, responsible and dependable teammate

• Ability to influence and run projects continuously driving change

Benefits of working at Bank of America:


  • Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner

  • Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons

  • 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum 

  • The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.

  • Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.

  • Access to an Employee Assistance Program for confidential support and help for everyday matters

  • Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

  • Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.

  • Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

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.