Bank of America · 2 weeks ago
Compliance and Operational Risk Manager- Foreign Exchange Coverage
New York, NY
Full-time
Onsite
Senior Level
7+ years expBank of America is dedicated to helping make financial lives better through the power of every connection. The Compliance and Operational Risk Manager will execute compliance and operational risk oversight for a Front Line Unit, ensuring adherence to policies and managing risks effectively.
Asset ManagementBankingFinanceFinancial ServicesFinTech
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 the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy (collectively the 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
Provide real-time support to the Global Foreign Exchange and Local Currency Trading (“FX and LCT”) Front-Line Unit with regards to the rules of the relevant products, markets and venues, and other relevant laws, rules and regulations, including internal policies, as applicable to the Global Markets Business
Develop an effective working relationship with Front Line Unit (“FLU”) personnel and other internal departments, such as Legal, Operations, Financial Crimes Compliance, and Regulatory Reporting
Assist with responding to and coordinating regulatory inquiries
Participate in the review and challenge of business activities in line with BofA Global Compliance and Operational Risk Program
Participate, as required, in internal investigations into potential breaches of regulatory/venue requirements or Firm policy
Participate, as required, in department initiatives in respect of regulatory/market developments and impact analysis on the firm’s business and support groups
Assist with the review of new business initiatives, including non-standard transactions
Review and assess activity which is escalated by Enterprise Independent Testing through surveillance activity undertaken and/or escalated directly by the FLU for potential market misconduct
Work closely with other regional Compliance and Operational Risk teams to ensure consistency in approach and best practices
Review/update Compliance & Operational Risk Policies and ensure they are consistent with global and local regulatory practices
Assist with the development of new and/or update existing Monitoring and Testing items for the Compliance and Operational Risk Program from a local and global perspective
Assist with the development and delivery of Compliance and Operational Risk training, both face-to-face and on-line
Keep abreast of regulatory change/developments
Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals
Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement
Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions
Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues
People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance
Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions
Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization
Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work
Qualification
Required
Minimum of seven years of relevant experience
May require regulatory examination/registration or certification, depending on jurisdiction and role
Good knowledge of FX products and services
Preferred
Bachelor's Degree in a related field
Experience in financial services and/or a similarly regulated sector
Strong knowledge of Foreign Exchange Market
Strong understanding of FX Global Code
Strong experience in dealing with regulator and exchange inquiries and exams
Strong understanding of market misconduct laws, rules and regulations, as well as applicable surveillance controls
Operational Risk Management preferably with FX product knowledge experience is advantageous
Company
Bank of America
Bank of America is a financial institution that offers credit cards, home loans, and auto loan services.
10001+ employees
H1B Sponsorship
Bank of America has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (780)
2024 (546)
2023 (590)
2022 (759)
2021 (715)
2020 (931)
Funding
Current Stage
Public CompanyTotal Funding
$3.59BKey Investors
Berkshire Hathaway
2025-02-20Post Ipo Debt· $386.79M
2024-11-26Post Ipo Debt· $2B
2020-07-28Post Ipo Equity· $400M
Leadership Team
Charissa Messer
Senior Vice President, Creative Agency Executive (Enterprise Creative Solutions)
Rami Salem
SVP Strategic Competitive Intelligence
Recent News
2026-01-13
Company data provided by crunchbase