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.

• Execute key enterprise compliance and operational risk framework elements such as Regulatory Change Management, Monitoring and Testing including RBI Tranche III reviews and related regulatory reporting, Risk Assessments etc.
  • Identifying, communicating and providing compliance guidance for the Laws, Rules and Regulations applicable to Corporate Banking (CBK), Global Payments Solutions (GPS) and Fixed Income, Currencies and Commodities (FICC) businesses and managing the regulatory change management process for BANA India.
  • Implementing Enterprise Compliance and Operational Risk framework consistently across the bank.
  • Developing the monitoring & testing coverage plans and executing them in line with local and enterprise requirements.
  • 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.
• Oversee various regulatory correspondences / inquiries / exam (inspection) submissions, provide comprehensive COR inputs / KRIs to governance forums, and effectively participate forums like Regulatory Governance forum to provide COR point of view.
• Providing updates on the state of compliance and operational risk using certain key metrics, issues, significant regulatory changes, outcome of COR reviews and help senior management drive the compliance culture in the country.
• Collaborates with all the Front Line Units (FLUs) / Control Functions (CFs) and for various regulatory initiatives / project incl. interfacing with Auditors.
• Manage Regulatory Licensing activities of the bank and track accreditations of the in-scope employees (e.g. FEDAI / NISM certifications).
• Provide country coverage for sustainability and privacy regulations in collaboration with Enterprise Areas of Coverage (EACs).
• Working with Product, Sales, Operations and Technology teams to review risks associated with ongoing product management and new products implementation.
• Liaising with country leadership, senior management and functional leaders alongside horizontal compliance teams (EACs / Financial Crimes Compliance / Regional FLU Compliance teams) and other Control Functions such as Risk to provide oversight of FLU and CF activities.
• Independently and holistically assess the Conduct related issue of the COR owned policies, provide appropriate recommendation and maintain record of such issues and disposition.

• Compliance and Operational Risk (COR) is a centralized group within Global Risk Management responsible for identifying, escalating and mitigating compliance and operational risk to ensure the Bank is in compliance with domestic and international laws, rules and regulations, and that risk and controls procedures are operating effectively.
• We are looking for a Compliance and Ops Risk Manager who has good understanding of the regulations applicable to Corporate Banking (CBK), Global Payments Solutions (GPS) and Fixed Income, Currencies and Commodities (FICC) businesses of the foreign bank operating in India, and the key elements of the Compliance and Operational risk framework including how they apply to the local regulations impacting Compliance function of the bank. This role requires skills to collaborate, ability to challenge the norms, effective communication skills and provide independent opinions based on facts and critical analysis.
• Qualifications - Bachelor's Degree or equivalent experience with 8 -10 years of experience in managing the Compliance risk.
• Why a specific skill, such as language, is required - Proficiency in English