EAC Compliance & Operational Risk Manager- Enterprise Data

Bank of America

Bank of America

Charlotte, NC, USA · Atlanta, GA, USA · Chicago, IL, USA · United States · Remote
Posted on Monday, June 24, 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 Summary

The EAC C&OR Manager assists in engaging other C&OR officers, including horizontal coverage owners and EAC, to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The EAC C&OR Manager also assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries

Activities this role performs for their area of coverage include, but are not limited to:

• Produces and/or oversees the development of independent risk management reporting as input into governance and management routines
• Contributes to participation in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers (trade associations, PACs, lobbyists, consumer groups, and media) in the EAC subject area to identify and mitigate emerging risks
• Identifies regulatory training needs and provides subject matter expertise to support the development of training curriculum
• Develops and maintains C&OR-owned policies/standards and reviews relevant FLU/CF-owned policies and standards to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage, advises business leaders on those changes, directs the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenges the implementation plan as needed; maintains a comprehensive regulatory inventory
• Identifies, aggregates, reports, escalates, inspects and challenges remediation plans, and performs thematic analysis on FLU/CF-owned issues and control enhancements
• Ensures C&OR “owned” issues and control enhancements are identified and addressed appropriately and timely
• Contributes to or leads development of risk coverage plans, executes and / or oversees execution of monitoring, testing and risk assessments, and communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA) related to EAC themes or trends
• Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
• Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Required Skills: Minimum Years of Business & Functional Experience: 7 years
Degree Required: Bachelor’s Degree or Equivalent experience

Role Responsibilities

The Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) Manager is a subject matter expert on specific processes, controls, laws, rules and/or regulations that have enterprise-wide applicability, affecting two or more Front Line Units (“FLU”) or Control Functions (“CF”). This role is responsible for the execution of the Global Compliance -Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program.

The EAC C&OR Manager identifies, escalates and mitigates risks in a timely manner in alignment with the CORM Program and the Policies. The role engages with FLU/CF leaders globally, coordinating with the FLU/CF C&OR Officer teams to independently advise those leaders on effectively managing the risks related to their area of coverage. By executing the CORM Program and the Policies, the EAC C&OR Manager identifies themes and trends, conducts analysis for new and emerging risks and recommends approaches to mitigate these risks.

Desired Skills: In depth knowledge of or certification in law, rule, regulation or area of coverage (ie: SCRA, Privacy); Desired: Association of Privacy Professional (IAPP) accredited certification programs for Privacy EAC


Communicates and Influences with Impact / Demonstrated behaviors may include but are not limited to:
• Communicates complex ideas in a way that is clear, direct, concise, simple and contextual; avoids jargon
• Shapes the opinions and actions of others, gaining trust & commitment for desired outcomes
• Adjusts style and personalizes message to best connect with others; inspires others to follow his/her lead
• Constructively challenges; supports opinion and recommendations with facts and data
• Shares opinion with confidence; is persistent and tenacious for what is right
• Demonstrates productive edge, appropriately voicing and challenging opinions
• Demonstrates productive partnering with various stakeholders across the enterprise at all levels
• Role models effective communication and influence; develops others on this skill
Demonstrates Business Acumen / Demonstrated behaviors may include but are not limited to:
• Deep understanding of the organization's overall strategies and how the business operates
• Deep understanding of what drives success through subject matter expertise of the products, customer and channels leveraged within the FLU
• Identifies and influences business improvements and solutions
• Proactively engages team/peers to transfer knowledge of the business
• Makes tough business and people decisions
• Demonstrates Learning Agility
• Demonstrated behaviors may include but are not limited to:
• Demonstrates the ability to remain flexible and adaptable in order to learn/apply new concepts and stay current on emerging trends (i.e. new technology)
• Asks questions in an effort to understand, drawing connections and similarities in order to frame new
• challenges/opportunities; leverages information to take calculated risks
• Proactively brainstorms and researches a wide range of options to find the best solutions to address
• opportunities
• Proactively engages others for feedback as an opportunity to drive improvement (for self and the
• business)
Delivers Results Through Management & Operational Excellence / Demonstrated behaviors may include but are not limited to:
• Demonstrates a deep understanding of owned processes and continually seeks opportunities to
• simplify and improve
• Leads the execution of strategies through establishing clear accountability for self and the team
• Raises performance expectations through planning and establishing routines to ensure goals are
• achieved
• Proactively identifies and removes barriers
• Leads change and gets team and key stakeholders on board
Cultivate Talent & Organization / Demonstrated behaviors may include but are not limited to:
• Creates and leads an environment that values diversity, where people can speak up, share bad news
• and get better outcomes through dialogue and debate
• Actively builds a pipeline of strong, diverse talent
• Actively manages the growth and development of talent; takes genuine interest in and provides support for their development
• Broadly shares accountability and responsibility with others
• Contributes to building motivated, high performing teams; inspires them to achieve more
• Recruits, develops and aligns talent needed to meet business goals
• Recognizes and rewards strong performers; coaches and manages lower performers
Delivers Second-Line Risk Management / Demonstrated behaviors may include but are not limited to:
• Commanding knowledge of the Compliance & Ops Risk Program and its application to daily work activity and team priorities; educates others
• Commanding knowledge of how laws, rules and regulations apply to businesses, functions, products, jurisdictions and/or the enterprise and stays current on changes; educates others


1st shift (United States of America)

Hours Per Week: