What's Happening?
Bank of America is actively recruiting for a Compliance & Operational Risk Specialist to join its EU Compliance & Operational Risk (COR) Risk Quantification & Measurement (RQM) Team. This role is pivotal in delivering legal-entity level GCOR program elements
across European legal entities, specifically BofA Europe DAC and BofASE SA. The position operates within the second line of defense, focusing on executing, reviewing, and challenging operational risk frameworks in alignment with internal policies and EU supervisory expectations. The role involves identifying, escalating, and mitigating compliance and operational risks, ensuring adherence to the Global Compliance Risk Management Enterprise Policy and other regulatory standards.
Why It's Important?
The recruitment of a Compliance & Operational Risk Specialist is crucial for Bank of America as it navigates complex regulatory environments in Europe. This role supports the bank's commitment to responsible growth by ensuring compliance with stringent EU regulations, which is vital for maintaining its operational integrity and reputation. The position also underscores the bank's proactive approach to risk management, which is essential in safeguarding its interests and those of its stakeholders. Effective compliance and risk management are critical in preventing financial losses and legal penalties, thereby protecting the bank's financial health and market position.
What's Next?
The successful candidate will be expected to collaborate with various stakeholders to execute the EU COR RQM program effectively. They will also play a key role in preparing and delivering governance materials for operational risk program deliverables, including submissions to risk management and board-level committees. As the regulatory landscape continues to evolve, the specialist will need to stay abreast of changes and ensure that the bank's compliance strategies are aligned with new requirements. This role will be instrumental in enhancing the bank's risk management capabilities and ensuring compliance with emerging regulatory standards.
