Compliance Manager

  • Competitive
  • New York, NY, USA
  • Permanent, Full time
  • Bank of America Corporation
  • 14 Oct 18

Compliance Manager

Job Description:

The Compliance Manager is responsible for engaging in activities to contribute to the independent compliance oversight of Front Line Unit ("FLU") and Control Function ("CF") performance and any related third party/vendor relationships in alignment with the Compliance Risk Management ("CRM") Program and the Global Compliance Enterprise Policy (GC Policy). As a member of a FLU or CF compliance officer team, the Compliance Manager demonstrates and applies business acumen to promote a culture of compliance and the identification, escalation and timely mitigation of compliance risks. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CRM Program objectives, balancing business strategy with appropriate controls.

The Compliance Manager is accountable for contribution to the requirements in the GC Policy aligned to compliance officers, including but not limited to the following activities:
• Assist the Compliance Executive in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective process and controls so that their day to day activities operate in a compliant manner.
• Engage other compliance officers, Enterprise Areas of Coverage roles, and horizontal function roles to provide oversight of FLU and CF activities.
• Conduct compliance risk assessments of FLU and CF.
• Contribute to monitoring and testing coverage plans and related metrics for Front Line Unit ("FLU") or Control Function ("CF").
• Monitor and test the effectiveness of the front line unit and control function compliance risk controls.
• Identify aggregate, report and escalate compliance risks, issues and control enhancements.
• Execute governance and management routines.
• Identify compliance training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF and third party participation.
• Assist business leaders in preparations for regulatory exams and audits for FLU/CF and related Enterprise Areas of Coverage.
• Inspect that commitments made regarding actions in response to Matters Requiring Attention ("MRAs") and other actions are completed.
• Escalate regulatory relations concerns to Compliance Executive.

The Compliance Manager reviews team deliverables to support consistent quality of activities, processes and outputs.

This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a small team, or may act as an individual contributor. This role may have Money Laundering Reporting Officer responsibilities.
Additional responsibilities include: As a key member of the MSG Compliance and Operational Risk team, the associate will execute the Compliance and Operational Risk Management Program while providing advice and guidance to MSG business partners. The associate will: • Promote Bank of America's Culture of Compliance by proactively identifying compliance and operational risks • Monitor, analyze and assess the impact of regulatory changes and maintain the regulatory inventory • Support the creation and maintenance of policies and procedures • Conduct routine and periodic risk assessments • Develop and implement monitoring and testing oversight activities • Conduct compliance training • Serve as a key contributor to governance and management routines and executive reporting • Identify, report and escalate compliance risks, issues and control enhancements • Assist with regulatory exams and audits Required Skills: • A minimum of 8 years work experience in financial services and knowledge of broker dealer and investment advisory laws and regulations; • Ability to inspire, motivate and persuade colleagues • Excellent oral, written, and interpersonal communication skills, analytical skills, attention to detail • Bachelors Degree • Proficiency in Microsoft Office (Word, Excel, PowerPoint, Outlook) Desired Skills: • Prior experience in Compliance, Risk or Audit • Advanced degrees, securities licenses, or regulator experience a plus

1st shift (United States of America)

Hours Per Week: