Director, Compliance

2 weeks ago

Sydney, New South Wales, Australia Bank of America Full time

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

Your background

  • Deep experience in financial services (involvement in Compliance, COO preferred) or regulatory background
  • Strong understanding of compliance and risk management frameworks
  • Knowledge of prudential and market regulation preferred
  • Understanding of Equities, Fixed Income, Commodities and Currencies, Futures and Options markets and regulations
  • Experience advising on the practical implementation of regulatory requirements and market conduct regulations
  • Must be able to perform well under pressure
  • Solution driven, confident, highly motivated and able to work independently
  • Demonstrate intellectual curiosity and focused on continuous learning and skill development
  • Ability to effectively engage with stakeholders at all levels of seniority
  • Strong and effective verbal and written communication in English. Proficient with technology and systems
  • Being comfortable with change and adjust to dynamically changing demands and requirements
  • Strong attention to detail and accuracy

What you can expect

  • The Country Compliance and Operational Risk (C&OR) Manager is responsible for ensuring the identification, escalation and timely mitigation of compliance and operational risks in Equities, Fixed Income, Commodities and Currencies, Futures and Options and related technology and operations in alignment with the global compliance and operational policies and program.
  • Proactively engage with other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage, to provide comprehensive oversight of the business' respective operations and activities.
  • Preparing materials for C&OR regulatory exams/audits/inquiries and provides consultation to business leaders in preparation for regulatory exams/audits/inquiries.
  • This role reports to the Head of Compliance and Operational Risk in Australia, and works inside, and is part of, the critical compliance and operational risk function.
  • The focus of this role is to conduct surveillance of different businesses, participate in the development of compliance and operational risk procedures, assist in management routines, reporting, assist in resolving compliance and operational issues and provide training and education.

What you will do

  • Develops and maintains C&OR-owned policies and standards and/or provides oversight of business-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 areas 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.
  • Provide advice and challenges on Australian regulatory framework and securities laws and regulations, firm's policies, new products, transactions and procedures.
  • Develop and provide education and training programs on compliance and operational risk topics.
  • Perform compliance and operational risk reviews and assessments.
  • Monitoring, testing and working with Testing and Surveillance team.
  • Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and performs thematic analysis on business-owned issues and control enhancements.
  • Ensures C&OR "owned" issues and control enhancements are identified and addressed appropriately and timely.
  • Contributes to development of risk coverage plans, executes execution of monitoring, testing and risk assessments, communicates results to stakeholders.
  • Reviews and challenges to business processes, new products, risk identification, control inventory and Risk & Control Self-Assessments.
  • Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate.
  • Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation.

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