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 ensuring the identification, escalation, and timely mitigation of compliance and operational risks in the countries covered, in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy and the Compliance and Operational Risk Management Program and Standard Operating Procedures. Key responsibilities responsible for executing the compliance and operational risk program in Bank of America N.A. Bangkok Branch office (Bank) and securities entity of BofA group. The individual will report to Head of Compliance in country and work with the respective lines of business and legal entity management to ensure that business is conducted in compliance with the applicable laws, regulations and compliance policies.
Responsibilities:
- Executes the Global Compliance and Operational Risk (GCOR) Program in the country, delivering each element on time, and to the required standard, including the effective review and challenge of Front Line Units and Control Functions
- Identifying, communicating and providing compliance guidance for the Laws, Rules and Regulations applicable to Fixed Income and Currencies (FICC), Global Transaction Services (GTS), Corporate Banking (CBK), Investment Banking (IBK), Global Wholesale Banking Operations (GWBO) and Global Markets Operations (GMO).
- Working with Head of Compliance and other Country Compliance team members, senior management, alongside horizontal compliance teams [such enterprise areas of compliance teams (EACs) / Financial Crimes Compliance (GFC) / Regional Front Line Unit (FLU) Compliance teams] and other Control Functions to provide oversight of FLU and Control Function (CF) activities.
- Developing the monitoring & testing coverage plans and executing them in line with local and enterprise requirements.
- Liaising with Product, Sales, Operations and Technology teams to review risks associated with ongoing product management and new products implementation.
- Engages with local regulators, and developing good professional relationship. Managing regulatory inquiries and exams / inspections in a timely and efficient manner, and escalating key issues appropriately.
- Conducting Compliance and Operational Risk Assessments for these businesses, identifying risk issues and escalating them in a timely manner to ensure sustainable remediation.
- Developing role based compliance training coverage plans to address the business needs.
- Ensures maintenance of a comprehensive regulatory inventory for the country, including identification and assessment of law, rule and regulation changes affecting activities in the country, advising business leaders of relevant changes, directing appropriate actions by impacted COR teams, and review and challenge of the overall implementation plan to meet new requirements.
- Ensures Compliance and Operational Risk owned issues (i.e., Internal Audit, Regulator, and Self-Identified issues) are addressed appropriately and timely in the respective country.
Required Skills:
- Attention to Detail
- Interpret Relevant Laws, Rules, and Regulations
- Regulatory Compliance
- Risk Management
- Written Communications
- Active Listening
- Critical Thinking
- Influence
- Issue Management
- Policies, Procedures, and Guidelines
- Decision Making
- Monitoring, Surveillance, and Testing
- Negotiation
- Process Management
- Relationship Building
