Operational Risk and Control Manager

at  Bank of America

SKILLS THAT WILL HELP (OPTIONAL):

• Excellent analytical skills, attention to detail and objective problem solver
• Ability to work independently and be results driven whilst being a strong team player
• Organized and able to present issues effectively and with impact
• Excellent multitasking abilities, proactive approach to successfully comply with multiple deadlines and initiatives globally

ROLE DESCRIPTION:

The Currency, Commodity, and Derivative Operations team performs end to end trade control, confirmation and settlements processes across FX and Commodities globally. CCDO is part of Global Market Operations who provide operational support to the Global Markets Business including as an example, Equities, Derivatives, FX, commodities, Futures & Options, and collateral.
The Operational Risk and Control Team provides support to CCDO management including identification and remediation of risk issues, audit issue management, investigation of operational losses, and management and preparation for regulatory and audit reviews.
This role will be a key part of the CCDO and the Global Markets Risk team. The role will work with the Derivative Operations Line of Business to identify key risks and solutions to improve the risk profile of the area. The role requires interaction with key partners in the business, Internal Audit, Compliance and Legal. As such the ideal candidates should have prior experience of Operations either in an Operations line role or through a role in Operational Risk, Finance, Compliance or Audit.

RESPONSIBILITIES:

• Supporting Derivative Operations with the identification and management of risks, issues, and governance routines.
• Central point of contact for managing external regulatory examinations and internal audits impacting Derivative Operations
• Review operational risk incidents and issues to determine the risk impact, root cause and remediation steps. Develop period thematic analysis
• Perform risk reviews to identify risk and issues and work with management team to identify appropriate solutions
• Provide support to the Derivative Ops risk lead with responsibility for raising and writing events and issues
• Provide support on risk management routines including monthly risk meetings, reviews of operational losses, risk, and performance metric management
• Evaluate new policy requirements to understand the relevant impact and changes applicable in order to effectively communicate those requirements
• Support Operations teams during Internal audits, GCOR Targeted Risk Assessments, Operational Risk Assessments and Regulatory reviews