Job Description:

Job Title: Compliance & Operational Risk Manager

Corporate Title: Up to Vice President

Location: Paris

Company Overview:

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!

Location Overview:

Based in the 8th arrondissement and within the Parisian Golden Triangle, our beautiful Art-Deco era office benefits from luxury modern workspaces, an abundance of natural light and is easily accessible by public transport.

The Team:

This Job will primarily be responsible for the 2nd line of defence oversight of the provision of Compliance and Operational risk relating to prudential laws, rules and regulations, with a specific focus on Market Risk and Model Risk in addition to other related topics for our EU entities.

The successful candidate will be part of a vibrant and high achieving Compliance and Operational Risk team based in Paris with colleagues spread throughout Europe and the UK, tasked with the key role of independent challenge and oversight for these key risk stripes for a Significant Institution subject to regulatory supervision under the ECB’s Single Supervisory Mechanism.

Role Description:

The role holder is responsible for executing second line of defence compliance and operational risk oversight for impacted Front-Line Units and Control Functions with respect to prudential LRRs as a key focus. Key responsibilities include ensuring requirements of the Global Compliance Enterprise Policy, the Operational Risk Management Enterprise Policy (collectively “the Policies”), the Compliance and Operational Risk Management Program and Standard Operating Procedures are implemented and identifying, challenging, escalating, and mitigating risks in a timely manner.

Responsibilities:

• Assesses risks and effectiveness of Front-Line Unit (FLU) od Control Function (CF) processes and controls to ensure compliance with applicable laws, rules, and regulations, while responding to regulatory inquiries, audits, and examinations

• Engages in activities to provide independent compliance and operational risk oversight of FLU or CF performance and any related third party/vendor relationships in alignment with the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy (collectively the Policies) and the Compliance and Operational Risk Management Program and Standard Operating Procedures

• Identifies and escalates problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses

• Manages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory obligations

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into country/regional governance and management routines

• Analyses and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks

• Reviews and challenges FLU/CF process, risk, Single Process Inventory, and FLU/CF Risk and Control Self-Assessment related to themes or trends, while monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage

Managerial Responsibilities:

• This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.

• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data-based decision making and continuous improvement.

• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.

• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.

• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.

• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.

• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.

• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating teamwork.

What we are looking for:

• We are seeking someone to provide prudential LRR coverage (Market & Model Risk focused for Paris), but will be broader than just these areas

• Several years of relevant experience

• May require regulatory examination/registration or certification, depending on jurisdiction and role

• Bachelor’s Degree in a related field

• Experience in financial services and/or a similarly regulated sector

Skills that will help:

• Global Risk Management experience

• Advisory

• Monitoring, Surveillance, and Testing

• Regulatory Compliance

• Reporting

• Risk Management

• Critical Thinking

• Influence

• Interpret Relevant Laws, Rules, and Regulations

• Issue Management

• Policies, Procedures, and Guidelines Management

• Business Process Analysis

• Decision Making

• Negotiation

• Process Management

Benefits of working at Bank of America (France):

• Competitive retirement plan in addition to State plans

• Mandatory Medical Plan provided by the bank as a top-up to Social Security health benefits for you and your family.

• Employees and family members can receive free health advice 24/7 through a range of English and French speaking medical providers

• Life and disability insurance

• Time Savings Account (‘CET’) to save some of your leave days, cash them out or use them later

• Reimbursement of 50% of your commuter pass

• Nursery scheme for children under age 3

• Works council benefits

• Access to an Employee Assistance Programme for confidential support and help for everyday matters

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering with local charities

• Opportunity to receive free entry to arts exhibitions sponsored by Bank of America in Paris

Bank of America:

Good conduct and sound judgment is crucial to our long-term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religious or similar philosophical belief, political opinion, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.