Vice President / Director, Electronic Trading Risk, Compliance and Operational Risk Manager

Bank of America

Bank of America

Hong Kong Island, Hong Kong · United States · Remote
Posted on Wednesday, June 12, 2024

Job Description:

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!

Job Description:
This job is responsible for executing 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.

The Firm has developed an Electronic Trading Risk (ETR) specific team to identify and assess significant risks driven & heightened by the implementation and growth of electronic trading businesses and activity, and to ensure the appropriate control framework is established and risks mitigated. The Electronic Trading Risk Team is deployed across Business Units, Infrastructure Groups and Control Functions globally.

The Electronic Trading Risk team leverages the existing Risk framework based upon a “Three Lines of Defense” model:

  • 1st Line: Business Units/Infrastructure Groups - Own their risk & are responsible for its management.
  • 2nd Line: Oversight by Independent Risk Management and Control Functions - Partner with Business Units and Infrastructure Groups to anticipate, mitigate and report on risk.
  • 3rd Line: Independent Assessment by Internal Audit - Provides independent, assessment, validation and evaluation.

The ETR operates as part of the Second Line of Defense, providing independent governance and oversight of electronic trading risk management across the Firm.


Bank of America has an opening for a Vice President or Director to join the Electronic Trading Risk Team to establish and own electronic trading risk management in APAC for its Global Markets (Equities & FICC) businesses. The team is seeking an individual who has the ability to drive the following initiatives:

  • Electronic Trading Risk Oversight: Provide an independent view of APAC Electronic Trading risks and assess the effectiveness of the Electronic Trading control environment using the following key dimensions:
  • Risk Identification: Identify and assess risks related to the APAC electronic trading businesses and activity.
  • Oversight: Own, drive and participate in relevant governance, steering, and working group committees, inclusive of reviewing metrics and escalation reports to monitor risk and control-related developments, issues and trends.
  • Challenge: Actively and pro-actively engage with Business Units, Infrastructure Groups and Control Partners to shape the control framework, challenging established and proposed solutions as appropriate.
  • Oversight of intra-day limit monitoring and approval of front-office trading limits and controls. Monitor limits for breaches and ensure any breaches are remediated and escalated appropriately.
  • Review all major incidents and control failures.
  • Procedures: Review execution of relevant procedures and assess assurance mechanisms for how effectively they identify weaknesses or failures of key controls.
  • Assessments: Undertake independent assessments of the electronic trading environment and control framework to identify potential gaps/weaknesses and propose solutions.
  • Relationship Management: Create strong working relationships with control and process owners as a mechanism for identifying and mitigating electronic trading risk.
  • Advisory Services: Provide guidance on the evolving Electronic Trading risk landscape and associated control functions.
  • Risk Acceptance / Policy Exception Oversight: Work with key stakeholders to establish & evaluate policy & policy exception requests, driving risk acceptance conclusions as appropriate.
  • Reporting: Develop metrics and reporting to measure and monitor Key Risk Indicators. Oversight of the creation and maintenance of risk and control documentation.
  • 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.

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

  • 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.


  • Bachelor’s Degree minimum.
  • Minimum of 5 years’ worth of work experience in the financial services industry.
  • Electronic trading experience is highly desirable. Could have been in a COO, business/product development, sales/coverage or support role related to Electronic Trading.
  • Deep understanding of APAC market micro structure.
  • Familiarity with execution strategies and electronic execution algorithms.
  • Experience from within an Execution Services business.
  • Exposure to electronic execution algorithms – either as a trader, business manager or technologist.
  • A broad understanding of Operational Risk issues.
  • An understanding of the current APAC regulatory framework and market micro structure.
  • An understanding of regulatory trends and future requirements.
  • Experience in risk management around Sales & Trading systems, especially lower-latency electronic trading.
  • Experience with software development lifecycle controls (e.g. change management, testing).
  • Experience with relationship management.
  • Strong interpersonal skills in order to work in a team oriented environment.
  • Strong project management and organization skills.
  • Ability to multitask and prioritize.
  • Ability to work under pressure and to tight deadlines.
  • Flexible and self-motivator.
  • Excellent communication skills, both verbal and written; ability to produce concise and effective presentations.
  • Ability to work in a small team environment, building and maintain a network of contacts and coordinating with a large number of stakeholders.