Job Description:
This job is responsible for executing 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.
Job Title: Compliance and Operational Risk Specialist (Equities)
Location: London
Corporate Title: up to Director
Company Overview:
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!
Location Overview:
Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.
Role Overview:
An opportunity has arisen in our London office for a Compliance Specialist to join the Equities Compliance and Operational Risk team. The role is responsible for assisting the Compliance and Operational Risk team to execute second line of defence compliance and operational risk oversight for the Equities Business in the UK and CEEMEA, focusing on Prime Financing.
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:
Assist 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.
Engage in activities to provide support to the Compliance and Operational Risk team 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 Policies and the Compliance and Operational Risk Management Program and Standard Operating Procedures.
Assist in identifying and escalating problems or issues that arise and drive actions to address the root causes that lead to compliance risk issues and/or operational risk losses.
Assist with investigation of escalated trade surveillance alerts and continual enhancement of the trade surveillance program elements.
Assist in the development of independent risk management reporting for respective area(s) of coverage as input into management routines.
Conduct monitoring and provide independent review and challenge to the Front Line Unit.
Assist in responding to trading venue and 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 inventory Reviews and challenges Equities processes, risks, Single Process Inventory, and Risk and Control Self-Assessment related to themes or trends, while monitoring the regulatory environment to identify regulatory changes applicable to the Equities business.
Attends & participates in in governance forums providing advice, review, and challenge.
What we are looking for:
A versatile, confident individual with significant, relevant work experience in a similar compliance and/or operational risk role within an Equities business. Ability to engage and communicate confidently and professionally with trading and sales teams, and with other internal stakeholders.
Strong written and verbal communication skills.
Knowledge of the UK, European and US regulatory framework including (not limited to) MiFID II, MAR, EMIR, Dodd Frank, Volcker etc.
Preferably a strong understanding of Equities Prime Financing.
Confident in managing policies, procedures and guidelines.
Ability to interpret relevant laws, rules and regulations
Benefits of working at Bank of America:
UK
Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum
The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
Access to an Employee Assistance Program for confidential support and help for everyday matters
Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
Opportunity to access our Arts and Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.
Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.
Bank of America
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 mind-set 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 sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.