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About the Role

This role is responsible for executing second line of defense compliance and operational risk oversight for a Front Line Unit, Control Function, and/or Third Parties, focusing on Workplace Benefits. Key responsibilities include ensuring adherence to enterprise policies and identifying, challenging, escalating, and mitigating risks.

Responsibilities

• Assesses risks and effectiveness of Front Line Unit (FLU) processes and controls to ensure compliance with applicable laws, rules, and regulations, while responding to regulatory inquiries, other audits, and examinations.
• Engages in activities to provide independent compliance and operational risk oversight of FLU or Control Function (CF) performance and any related third party/vendor relationships in alignment with enterprise policies and the Compliance and Operational Risk Management Program and Standard Operating Procedures.
• Identifies and escalates problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses.
• Manages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities.
• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into country/regional governance and management routines.
• Analyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks.
• Reviews and challenges FLU/CF process, risk, Single Process Inventory, and FLU/CF Risk and Control Self-Assessment related to themes or trends, while monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage.

Requirements

• Minimum of seven years of relevant experience in a compliance, risk related, or GWIM coverage area.
• May require regulatory examination/registration or certification, depending on jurisdiction and role.
• Bachelor’s Degree in a related field.
• Experience in financial services and/or a similarly regulated sector.
• Experience in product offerings associated with Fiduciary or ERISA requirements.

Skills

• Credible Challenge
• Issues Management & Resolution
• Process Management & Inventory
• Regulatory Knowledge
• Risk Identification & Assessment
• Products, Services & Acumen - Global Wealth & Investment Management
• Compliance Risk Principles
• Conduct Risk Principles
• Compliance & Operational Risk Program Management
• Operational Risk Principles
• Advisory
• Monitoring, Surveillance, and Testing
• Regulatory Compliance
• Reporting
• Risk Management
• Critical Thinking
• Influence
• Interpret Relevant Laws, Rules, and Regulations
• Issue Management
• Policies, Procedures, and Guidelines Management
• Business Process Analysis
• Decision Making
• Negotiation
• Process Management
• Written Communications

Location

• US - NJ - Jersey City
• US - NJ - Pennington
• US - NY - New York

Work Type

• 1st shift
• 40 hours per week

Experience Level

• Minimum of seven years of relevant experience

Education Level

• Bachelor’s Degree in a related field

Salary/Compensations

• $97,200.00 - $195,000.00 annualized salary

Benefits

• Industry-leading benefits
• Access to paid time off
• Resources and support

About the Company

• At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.
• We drive Responsible Growth and deliver for our clients, teammates, communities and shareholders every day.
• Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth.
• We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success.
• We value the unique perspectives individuals bring from all backgrounds and career paths.
• Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development.
• At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact.

Equal Opportunity

• We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.