Bank of America Compliance Manager in New York, New York
The Compliance Manager is responsible for engaging 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 Compliance Risk Management ("CRM") Program and the Global Compliance Enterprise Policy (GC Policy). As a member of a FLU or CF compliance officer team, the Compliance Manager demonstrates and applies business acumen to promote a culture of compliance and the identification, escalation and timely mitigation of compliance risks. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CRM Program objectives, balancing business strategy with appropriate controls.
The Compliance Manager is accountable for contribution to the requirements in the GC Policy aligned to compliance officers, including but not limited to the following activities:
Assist the Compliance Executive in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective process and controls so that their day to day activities operate in a compliant manner.
Engage other compliance officers, Enterprise Areas of Coverage roles, and horizontal function roles to provide oversight of FLU and CF activities.
Conduct compliance risk assessments of FLU and CF.
Contribute to monitoring and testing coverage plans and related metrics for Front Line Unit ("FLU") or Control Function ("CF").
Monitor and test the effectiveness of the front line unit and control function compliance risk controls.
Identify aggregate, report and escalate compliance risks, issues and control enhancements.
Execute governance and management routines.
Identify compliance training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF and third party participation.
Assist business leaders in preparations for regulatory exams and audits for FLU/CF and related Enterprise Areas of Coverage.
Inspect that commitments made regarding actions in response to Matters Requiring Attention ("MRAs") and other actions are completed.
Escalate regulatory relations concerns to Compliance Executive.
The Compliance Manager reviews team deliverables to support consistent quality of activities, processes and outputs.
This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a small team, or may act as an individual contributor. This role may have Money Laundering Reporting Officer responsibilities.
Additional responsibilities include:
Update relevant policies and procedures to 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 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 for and provide compliance advice and guidance to FLU/CF
Assist with preparations for regulatory exams, inquiries and audits for FLU/CF
Escalate regulatory relations concerns to Compliance Manager or Executive.
Oversee and manage compliance protocols related to the broker-dealer disciplines and regulatory requirements
Stay updated on securities laws, rules and regulations and industry best practices applicable to the FLU, and advise Compliance Manager/Executive accordingly
Experience in fixed income products and markets
Functional knowledge of laws, rules and regulations applicable to banking and securities activity
Proactive, analytical thinker
Excellent verbal communication skills
Excellent writing skills
Able to work in trading floor environment
Attention to detail
5+ years experience
Prior experience in a Fixed Income Compliance and/or Control Function role
Experience in Securitized Products and Municipal Finance preferred by not required
Functional knowledge of multiple FICC market activities preferred including:
GSEs – Compliance with agreements, suitability, TMPG requirements and annual audit reviews
Securities regulation – Trade reporting (TRACE), suitability, communications/research, supervision, markups, best execution/order handling and Market Access
Advanced degrees, securities licenses, or regulator experience a plus, but not required
Posting Date : 04/11/2018
New York, NY, BANK OF AMERICA TOWER, ONE BRYANT PARK,
- United States
Travel : Yes, 5% of the time
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
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