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Vice President, Compliance and Operational Risk Manager, Electronic Trading

Bank of America

Bank of America

Tokyo, Japan
Posted on Monday, January 29, 2024

Job Description:

The Senior Country Compliance and Operational Risk (C&OR) Manager is responsible for ensuring the identification, escalation and timely mitigation of compliance and operational risks in the country 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 Senior Country C&OR Manager proactively engages with other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage, to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The Senior Country C&OR Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries.
Activities this role performs include, but are not limited to:

• Produces and/or oversees the development of independent risk management reporting for respective area(s) of coverage as input into country/regional governance and management routines
• Provides country/regional regulators with output of coverage activities when requested
• Provides subject matter expertise to assist the FLU/CF in establishing an annual learning plan; may be accountable for developing and delivering training content
• Develops and maintains C&OR-owned policies and standards and/or provides 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, advises business leaders on those changes, directs the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenges the implementation plan as needed; maintains a comprehensive regulatory inventory
• Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and performs thematic analysis on FLU/CF-owned issues and control enhancements
• Ensures C&OR “owned” issues and control enhancements are identified and addressed appropriately and timely
• Contributes to or leads development of risk coverage plans, executes and / or oversees execution of monitoring, testing and risk assessments, communicates results to FLU/CF Stakeholders
• Reviews and challenges the country/regional contributions to the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessments (RCSA)
• Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
• Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Additional activities this role may perform include:

• Ensures that any inquiries and exams by regulators in the country are appropriately managed by the relevant Compliance & Operational Risk Officers
• Promotes participation on Environmental, Social, & Governance (ESG) initiatives and programs
• Escalates any key issues to the appropriate level of management

This role may have Money Laundering Reporting Officer responsibilities.

Required Skills: Minimum Years Business & Functional Experience: 7 Years
Degree Required: Bachelor’s Degree or equivalent experience

Desired Skills: Local certifications (where applicable)