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 driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation.

Responsibilities:

• Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
• Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation
• Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
• Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
• Performs QA activities including executing on controls, managing cases, and reporting results
• Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success
• Supports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting

Job Summary

The Currency, Commodity, and Derivative Operations (CCDO) team performs end to end trade control, confirmation and settlements processes across FX and Commodities, and confirmations and settlement processes across Equity and Fixed Income Derivatives businesses 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:       
• Responsible for 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

Required Skills

Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions
Excels in working among diverse viewpoints to determine the best path forward
Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner
Commitment to challenging the status quo and promoting positive change
Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base
Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world
Demonstrable experience in business, finance or accounting disciplines
Analytical skills with ability to critically evaluate information, reconcile variances and present data in a coherent manner
Outstanding communication skills, including ability to effectively influence outcomes
Experience in Global Markets Operations or Risk Control function

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Jersey City - 101 Hudson St - 101 Hudson (NJ2101)

Pay and benefits information

Pay range

$62,100.00 - $103,900.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.