Compliance and Operational Risk Specialist (Control Room)

Job Description:

Job Title: Compliance and Operational Risk Specialist (Control Room)

Corporate Title: up to VP

Location: London

Company Overview:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.  Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Location Overview:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

The Team:

Based in BofA’s London office, the EMEA Control Room is formed of eight compliance professionals. The team operates a flat structure which allows new joiners to experience the full extent of tasks performed within the Control Room. There is an open and supportive working environment where team members are actively encouraged to identify and pursue opportunities to improve processes. Furthermore, team members are supported to build networks across the firm and seek training and development opportunities to progress their careers.

This is a fantastic opportunity to gain exposure to multiple business lines including Investment Banking, Research and Global Markets (both Equity and Fixed Income) and to gain an understanding of the full range of products and services a global bank offers.

Role Description:

Responsible for assisting the Compliance and Operational Risk officer team to

execute second line of defense compliance and operational risk oversight for a Front-Line Unit, Control Function, and/or Third Parties. Key responsibilities include ensuring requirements of the Global Compliance Enterprise Policy, the Operational Risk Management Enterprise Policy (collectively “the Policies”), the Compliance and Operational Risk Management Program and Standard Operating Procedures are implemented and identifying, challenging, escalating, and mitigating risks in a timely manner.

Responsibilities:

• Execution of the Global Compliance Policy and the Compliance Risk Standards as applicable for the Enterprise Information Wall Compliance Program
• Review private side transactions and perform analysis to understand potential impacts on the Watch List and/or Restricted List
• Review  equity and fixed income Investment Research reports
• Review non-deal roadshows  organised and/or hosted by BofA
• Pre-clear trade requests in restricted stocks, pre-clear large trade requests and perform firm holding checks
• Manage the firm’s wall crossing processes, providing challenge where necessary
• Contribute to global technology projects and other targeted assessments to improve processes and mitigate risk
• Perform conflicts checks against the Watch List ahead of the business accepting certain new mandates
• Point of Contact for Enterprise Information Wall (Policy and Standard) for all Vertical Lines of Business in region 
• Evidencing up to date List of Associates subject to the Watch List, Quarterly
• Creation and Maintenance of Single Process Inventory Controls, Metrics, and Thresholds
• Weekly Pipeline Review; Global Banking & Global Markets Regulatory Change Management 
• Quarterly Highly Restricted Confidential Information (“HRCI”) assessment for 2nd Line applications 
• Documented training for all employees, including new hires, annually (Includes Laws Rules and Regulations, Case Studies, Resources and Escalation process, including links to policies)

What we are looking for:

• Demonstrable experience in Compliance / 2nd Line of Defence role
• Analytical and problem solving skills
• Ability to work under pressure
• Ability to prioritise tasks effectively 
• Ability to challenge and appropriately assess risks

Nice to have

• Understanding of US Securities Laws
• Understanding of UK and Irish Takeover Panels
• Previous experience of managing conflicts clearance

Benefits of working at Bank of America:

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum 
• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
• Access to an Employee Assistance Program for confidential support and help for everyday matters
• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
• Opportunity to access our Arts and Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America:

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.