Country Compliance Officer
- Dublin, Leinster, Ireland Dublin Leinster IE
- Permanent, Full time
- Bank of America Merrill Lynch
- 25 Apr 18 2018-04-25
Country Compliance Officer
Corporate Title: Vice President (VP)
Line of Business: GBAM Compliance
Our Dublin office has an exciting opportunity available to work as Country Compliance Officer. Bank of America Merrill Lynch ("BAML") in Ireland currently employs around 700 persons across two premises in Dublin. In Ireland, BAML performs Global Banking and Markets ("GBAM") activities to Irish and international firms and is a significant near shore hub for GBAM Technology and Operations services.
BAML performs banking and asset management support services out of entities regulated by the Central Bank of Ireland in Ireland and the Prudential Regulatory Authority in the UK, with plans for future expansion of regulated activities in Ireland over the next few years to include the provision of Equity trading and sales businesses.
The role of the Country Compliance Officer will be to support the Ireland Compliance team in ensuring that appropriate processes are established by front line units and support functions in Ireland to comply with all applicable laws, rules and regulations issued by Irish and European regulatory bodies and to ensure that all elements of the global Compliance Risk Management ("CRM") Program are appropriately adopted by the Ireland Compliance team.
As a second line of defence, Compliance's responsibility is to ensure that front line units own and manage all types of risks inherent in their respective business and support functions, with Compliance providing effective challenge and oversight of risks.
As a Country Compliance Officer your main responsibilities will involve:
- Compliance Risk Management Program - The role entails the effective implementation of and compliance with relevant aspects of the Compliance Risk Management Program in respect of BAML businesses
- GBAM Front Line Unit Compliance Roles and Responsibilities policy - To undertake the requirements described in the policy, to undertake work as directed by Compliance management; this would include work in respect of the Compliance Risk Assessment process and the production of ad hoc project work
- Governance - The role would entail the development of effective working relationships with relevant business persons and engaging with them to understand strategy and direction and independently advise those persons on how to deliver that strategy while effectively managing compliance risk
- Working relationships with compliance officers dealing with other businesses should be developed, and relationships with relevant support functions should also be formed
- The role would also involve attendance and participation in relevant governance forums providing advice and, where necessary, challenge, and providing clarity on BAML's regulatory and, in the future, exchange obligations
- Regulatory change and policy work - The role requires an understanding of the Irish, European and global regulatory framework that applies to the Dublin based equities businesses. It also requires input into regulatory change processes to ensure that regulatory changes are effectively embedded within BAML, assistance with relevant policy and procedure development and training, and ensuring that, where necessary, aspects of regulatory change are reflected in BAML's Surveillance, Monitoring and Testing routines
- Regulatory interaction - The role would require, from time to time, interaction with various regulators and, in the future, exchanges. This would include reacting to enquiries, escalation of certain issues, and preparing for regulatory visits and reviews
- Global interaction - The role requires interaction with compliance officers based in other locations and, through them, interaction with their business partners when the need arises
- Potential issue review and escalation - The role includes the review of potential issues that would be raised through surveillance, monitoring, testing or general observation, and, where deemed necessary, escalation of relevant issues to the appropriate persons
- Training - The role requires assistance in the development and delivery of training, both face-to-face and on-line
As a Country Compliance Officer your skills and qualifications will ideally include:
- A graduate degree or equivalent experience
- Experience in a Compliance/Risk/Audit function within a banking or investment firm, preferably gained within an international firm
- Knowledge of investment banking financial products, particularly Equities related
- Reasonable knowledge of EU and Irish financial services laws, rules and regulations
- Formal qualification in Compliance is desirable but not a prerequisite
- Good verbal and written communication and influencing skills and a quick learner
- Good relationship management skills, and a reliable point of contact for internal and external parties
- Have a flexible and solution driven perspective and a determination to find best solution to complex issues
- An organised person who can self-manage multiple priorities, and an ability to work under pressure
- An assertive individual who can both act by following instruction but can challenge, where appropriate
- Has good Judgement (i.e. Judges a situation or situations where different parties hold different views. Considers many different alternatives, avoids any personal bias and carefully assesses the risks)
- Private healthcare coverage
- Pension plan - 6% of base salary (we match employees contributions up to a maximum of 12%, or 15% after 15 years' service)
- Life assurance
- Vacation 25 days (ability to flex down or up with manager approval)
- Health screen
- Group income protection
- Personal accident insurance
- As a valued member of our team you will also be eligible for a number of optional benefits including cycle to work scheme, dental cover, retail vouchers and reduced costs on selected leisure and entertainment.
About Bank of America Merrill Lynch
Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses.
The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch's responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.
If you're interested in this opportunity please send your details to us by applying online.
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 mindset 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 gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.