Bank of America GWIM Compliance Specialist in Pennington, New Jersey

Job 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 Compliance Risk Management ("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.

  • This role may have Money Laundering Reporting Officer responsibilities.

The Marketing Compliance team is part of the Global Marketing and Corporate Affairs Compliance Organization. Primary focus of the team is to help ensure compliance with laws, rules, regulations, policies & procedures regarding communications with the public related activities. Our business partners include broker-dealer marketing teams, FLUs and Supervision. Key priorities include compliance oversight, identifying/escalating issues; identifying and recommending controls; identifying/implementing monitoring routines; identifying independent testing activities; engaging on strategic initiatives; being an escalation point for marketing compliance issues; role may also involve limited marketing content reviews.

Additional responsibilities include:

Position will be responsible for providing compliance support for broker-dealer marketing activities, including oversight, monitoring and testing. The employee will provide compliance-related advice and guidance regarding marketing and product materials; identifying and developing monitoring activities, and identifying testing activities. The employee will also engage with marketing and front lines on new initiatives/campaigns. The employee will be an escalation point for marketing, supervision and FLUs regarding communications with the public related activities, with responsibility to execute on relevant compliance risk framework requirements. Limited opportunity to review marketing content exists, and there will be opportunity to develop/deliver regulatory training for relevant partners.

Required Skills:

  • 5+ years of financial industry experience

  • Compliance monitoring and testing experience

  • Strong knowledge of financial industry regulations, especially for communications and investment and banking product related content.

  • Prior work experience reviewing marketing materials or in compliance function or control partners support function within the financial industry.

  • Strong business partnering experience/skills including the ability to interact, communicate and influence equally well within all levels of an organization.

  • Strong analytical and research experience; ability to assimilate complex data, connecting themes identified across various issues/areas.

  • Strong communication skills both verbal and written, including the ability to explain results of complex analysis at a level that resonates across many different audiences, excellent writing skills, strict attention to detail.

  • Experience managing multiple tasks simultaneously and deadlines in a fast paced environment, including strong prioritization and time management skills.

  • Experience evaluating new rules and regulations, and determining impacts to the business. Experience making risk-based decisions and proactive approach are critical.

Desired Skills:

  • Familiarity with broker-dealer FINRA rules

Posting Date : 03/01/2018

Location :



  • United States

Travel : No

Full / Part-time : Full time

Hours Per Week : 40

Shift : 1st shift

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