Bank of America Compliance Specialist - EBCE (Enterprise Business & Community Engagement) in New York, New York
The Compliance Specialist will have responsibility for administering the compliance programs for Enterprise Business and Community Engagement (EBCE), which includes coverage of the Local Market Delivery team supporting the Market President Network. A key element of the Company’s strategic plan is to “Deliver one company” through covered referral programs.
This role will also evaluate and oversight referral programs across the Company which are not covered by EBCE, and provide compliance advice and support. EBCE is focused on enabling front line units to drive client opportunities across Bank of America by leveraging enterprise-wide relationships and coordinating coverage teams to deliver a broad range of solutions to clients on an enterprise basis. EBCE is responsible for driving business integration and collaboration across the enterprise and demonstrating the brand locally. In addition, EBCE leads the company’s strategy through which leaders representing all the company’s various businesses in our markets and communities work together to integrate the delivery of products and services for customers and clients.
Enterprise Role Description:
The Compliance Specialist, assists the Compliance officer team in activities to contribute to the independent compliance oversight of Front Line Unit (“FLU”) and Control Function (“CF”) performance and any related third party/vendor relationships in alignment with the CRM Program and the Global Compliance Enterprise Policy (GC Policy). As a member of a FLU or CF compliance officer team, this role applies business acumen to promote a culture of compliance and the identification, escalation and timely mitigation of compliance risks by assisting FLU or CF Compliance teams with any of the following activities:
• Create and maintain a regulatory inventory.
• Update relevant policies to ensure they reflect regulatory requirements for FLU/CF.
• Contribute to compliance risk assessments.
• Contribute to monitoring and testing coverage plans and related metrics.
• Monitor and test the effectiveness of the front line unit and control function compliance risk controls for FLU/CF.
• Identify aggregate, report and escalate compliance risks, issues and control enhancements for FLU/CF.
• Assist in the execution of governance and management routines.
• Identify compliance training needs and inspect FLU/CF and third party participation for FLU/CF.
• Assist with preparations for regulatory exams and audits for FLU/CF.
• Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed for FLU/CF.
• Escalate regulatory relations concerns to Compliance Manager or Executive.
In addition to the responsibilities above, this role will also support the Bank of America Corporation Code of Conduct, which is foundational to all other policy requirements and guidance at the Company, and helps set the tone for the Company’s compliance culture.
3-5 years of compliance experience at a financial services firm
Strong analytical and research experience; Ability to manage data, analyze information to identify critical risks, and effectively present the results to executive-level audiences; addresses complex problems with practical solutions
Strong knowledge of Banking, Wealth Management and Global Markets
Effective experience executing compliance policies, programs, and procedures for a large, complex organization
Demonstrated ability to work on multiple projects and meet objectives and deadlines, while reacting within a growing and changing environment
Excellent verbal and written communication skills, with the ability to use them in informing, presenting negotiating and problem solving
Demonstrated relationship management skills/experience including the ability to inform, influence and consult peers and partners
Excellent team collaborator in addition to being able to work independently
Ability to prioritize and handle multiple tasks/stakeholders; strong organizational and time management skills
Minimum 5 years functional experience
Bachelor's degree or equivalent
Posting Date : 01/19/2017
Location : US-NY-New York, US-NC-Charlotte
Travel : Yes, 5% of the time
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
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