CFO Compliance and Operational Risk Specialist
Company: Disability Solutions
Location: Charlotte
Posted on: October 5, 2024
Job Description:
Job Description: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!Job Description:This job is responsible for
contributing to the Compliance and Operational Risk team to execute
second line of defense compliance and operational risk oversight
for a Front Line Unit, Control Function, and/or Third Parties. Key
responsibilities include ensuring requirements of the Global
Compliance Enterprise Policy, the Operational Risk Management
Enterprise Policy (collectively "the Policies"), the Compliance and
Operational Risk Management Program and Standard Operating
Procedures are implemented and identifying, challenging,
escalating, and mitigating risks in a timely
manner.Responsibilities:
- Assists in assessing risks, associated controls and their
effectiveness, while driving compliance with applicable laws,
rules, and regulations, adhering to policies, and developing
reporting and documentation
- Engages in activities to provide support to the Compliance and
Operational Risk teams in order to provide independent compliance
and operational risk oversight of Front Line Unit or Control
Function performance and any related third party/vendor
relationships in alignment with the Global Compliance - Enterprise
Policy, the Operational Risk Management - Enterprise Policy
(collectively the Policies) and the Compliance and Operational Risk
Management Program and Standard Operating Procedures
- Assists in identifying and escalating problems or issues that
arise and drives actions to address the root causes that lead to
compliance risk issues and/or operational risk losses
- Assists in the development of independent risk management
reporting for respective area(s) of coverage as input into
management routines
- Assists in responding to regulatory inquiries and other audits
and examinations
- Monitors the regulatory environment to identify regulatory
changes applicable to area(s) of coverage and maintains a
comprehensive regulatory inventorySkills:
- Monitoring, Surveillance, and Testing
- Process Management
- Regulatory Compliance
- Reporting
- Risk Management
- Attention to Detail
- Critical Thinking
- Interpret Relevant Laws, Rules, and Regulations
- Issue Management
- Policies, Procedures, and Guidelines Management
- Active Listening
- Advisory
- Business Process Analysis
- Written CommunicationsBusiness Unit Overview: Chief Financial
Officer Compliance and Operational Risk (CFO COR) seeks to deliver
effective independent compliance and operational risk oversight of
the CFO Group, which is responsible for the overall financial
management of our company, including managing the company's
capital, liquidity and earnings risks and publishing its financial
statements, as well as providing financial planning, analysis and
support to all of the company's Front Line Units (FLUs) and Control
Functions (CFs). CFO COR drives responsible growth at Bank of
America by developing our teammates, promoting a diverse and
inclusive culture and approaching our work with intellectual
curiosity and dispassionate objectivity. CFO COR delivers its
mission through a steadfast commitment to its values: managing risk
well; cultivating diversity of thought and valuing different
perspectives and experiences; driving an inclusive culture that
promotes learning, fosters relationships and creativity; developing
talent, advancing careers and creating leaders within Global Risk
Management and across the company. Role Overview: The CFO COR
Specialist is responsible for executing activities to provide
independent compliance and operational risk oversight of the firm's
Treasury organization, including key functions such as, Capital,
Liquidity, and Funding.The CFO COR Specialist assists in engaging
stakeholders across the CFO Group, Global Compliance and
Operational Risk (GCOR), as well as other risk areas, to provide
comprehensive oversight of firm's Treasury function, including
Capital, Liquidity, and Funding. This includes preparing materials
for regulatory exams, audits, and other inquiries, and may assist
with preparation for internal management and governance routines.
The candidate will be responsible for developing and executing Risk
oversight activities (i.e. monitoring, testing and targeted
assessments), interfacing with CFO Group and Corporate Treasury
stakeholders on coverage development and execution, and supporting
planning and execution of tactical and strategic enhancements to
the approach/framework for risk oversight of the CFO Group.
Additional Responsibilities: The CFO COR Specialist is accountable
for assisting the CFO COR Team in the proactive identification,
escalation and timely mitigation of compliance and operational
risks through the execution of some or all of the following
activities:
- Contributes to development of risk coverage plans and executes
of independent risk monitoring, testing and risk assessments
- Supports the development of independent risk management
monitoring and testing activities to assess the Treasury
organization, including Capital, Liquidity and Funding.
- Assists in the development of independent risk management
reporting for respective area(s) of coverage as input into
governance and management routines
- Assists with the development, maintenance and oversight of
policies and standards to ensure regulatory and operational risk
requirements are appropriately addressed
- Monitors the regulatory environment to identify regulatory
changes applicable to Capital and Liquidity
- Assists in identifying, aggregating, reporting, escalating,
inspecting and challenging remediation plans, and performing
thematic analysis on issues and control enhancements
- Assists in remediating CFO COR "owned" issues and control
enhancements
- Reviews and challenges CFO's Single Process Inventory (SPI) and
FLU/CF Risk & Control Self-Assessment (RCSA)
- Supports the review and challenge of internal and external
operational loss events, including development of remediation plans
to strengthen controls
- Assists with the development of risk metrics, monitors related
performance and breach remediationDesired Skills:
- Demonstrates bias for action in order to execute team
priorities
- Intellectual curiosity - approaches each day with a curious
mindset; effectively uses inquiry to uncover facts and
circumstances; consistently applies critical thinking
- Communication - ability to communicate effectively and with
impact, including strong writing and presentation skills
- Understands the Bank of America Compliance and Operational Risk
Program and how it applies to daily work activity
- Applies the context to work deliverables; demonstrates
understanding of the "why"
- Collaboration - Develops networks and builds alliances;
collaborates across boundaries to build strategic relationships and
achieve common goals. Influencing and negotiating across external
stakeholders (regulators) as well as internal groups
- Innovative - ability to identify simpler and better ways of
doing things; embraces and adapts to change well Autonomy -
self-starting, able to translate broad-strokes to actions. Actively
seeks and executes on value-added opportunities Influence - ability
to influence stakeholders and drive agenda
- Leveraging Diversity - fosters an inclusive workplace where
diversity and individual differences are valued and leveraged to
achieve the vision and mission of the organization. Exposure and
involvement with Employee Engagement initiatives including
supporting Diversity & Inclusion effortsRequired Skills:
- Bachelor's Degree or equivalent experience in related
discipline
- 3+ years of experience in financial services such as Corporate
Treasury, Capital, Liquidity and FundingShift:1st shift (United
States of America)Hours Per Week: 40
Keywords: Disability Solutions, Burlington , CFO Compliance and Operational Risk Specialist, Executive , Charlotte, North Carolina
Didn't find what you're looking for? Search again!
Loading more jobs...