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Nfrr Eac Compliance and Operational Risk Manager

Full-time 19 views
Company Bank of America Corporation Location Charlotte, NC, United States



Min 7 yrs required



Sep 01, 2022

Dec 15, 2022

Jul 11, 2022


NFRR EAC Compliance and Operational Risk Manager
The candidate produces and/or oversees the development of independent risk management reporting as input into governance and management routines. Contributes to participation in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers (trade associations, PACs, lobbyists, consumer groups, and media) in the EAC subject area to identify and mitigate emerging risks. Identifies regulatory training needs and provides subject matter expertise to support the development of training curriculum. Develops and maintains C&OR-owned policies/standards and reviews relevant FLU/CF-owned policies and standards 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 NFRR, 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. Analyzes NFRR laws, rules and regulations to determine regulatory reporting requirements and their applicability to BAC. Supports front-line teams, report owners and technology teams to: capture applicable regulations within regulatory reporting database; derive relevant business requirements from applicable regulatory requirements; source and map applicable reporting data; and determining the jurisdictions, legal entities, businesses and products in scope for applicable regulatory reporting requirements. Prepares regulatory interpretations and drives interpretive decisions, as needed, from BAC management, legal, GCOR and from regulators and other third parties, and maps interpretations against applicable reporting regulations. Evaluates regulatory changes for impact upon NFRR regulatory requirements, business requirements and reporting data. 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 and timely. Contributes to or leads development of risk coverage plans, executes and / or oversees execution of monitoring, testing and risk assessments, and communicates results. Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA) related to EAC themes or trends. 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.

Qualification and Experience

The candidate should have 7 years of experience and a Bachelor’s Degree. In-depth knowledge of or certification in law, rule, regulation or area of coverage (ie: SCRA, Privacy); Desired: Association of Privacy Professional (IAPP) accredited certification programs for Privacy EAC. Experience in banking or brokerage industries. In-depth knowledge of or certification in law, rule, and regulation pertaining to regulatory reporting and/or knowledge of global banking & markets, global wealth management or Consumer/Retail products, services and operations.

Additional info

ID: JR-22058324.

Company info

Hiring Coordinator
Bank of America Corporation
100 North Tryon Street
Charlotte, NC 28255

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