Compliance and Operational Risk Manager - Electronic Trading

Job Title:

Compliance and Operational Risk Manager
- Electronic Trading

Corporate

Title:

Vice President

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!

Our London office is based just a stone's throw from the magnificent St. Paul's Cathedral on bustling King Edward Street. Here you'll find modern work spaces and a state-of-the-art auditorium space. In addition, we're proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London.

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Bank of America has an opening for a Vice President to join the ET COR Team to establish and own electronic trading compliance and risk management in EMEA for its Global Markets (Equities & FICC) businesses. The Firm has developed an Electronic Trading Compliance and Operational Risk ("ET COR") specific team to identify and assess significant risks driven & heightened by the implementation and growth of electronic trading businesses and activity, and to ensure the appropriate control framework is established and risks mitigated.

The ET COR team is deployed across Business Units globally.

The ET COR team operates as part of the Second Line of Defense, providing independent governance and oversight of electronic trading compliance and risk management across the Firm.

This job is responsible for executing second line of defence compliance and operational risk oversight for a Front-Line Unit, Control Function, and/or Third Parties. 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.

• Risk Identification:
  Identify and assess risks and controls related to the EMEA electronic trading businesses and activity, including Algorithms, Direct Electronic Access, Internal Trading Venues and Internal Market Access.
• Oversight:
  Own, drive and participate in relevant governance, steering, and working group committees, inclusive of reviewing metrics and escalation reports to monitor risk and control-related developments, issues and trends.
• Challenge:
  Actively and pro-actively engage with Business Units, Infrastructure Groups and Control Partners to shape the control framework, challenging established and proposed solutions as appropriate.
• Oversight of intra-day limit monitoring and approval of front-office trading limits and controls. Monitor limits for breaches and ensure any breaches are remediated and escalated appropriately.
• Review all major incidents and control failures.
• Procedures:
  Review execution of relevant procedures and assess assurance mechanisms for how effectively they identify weaknesses or failures of key controls.
• Assessments:
  Undertake independent assessments of the electronic trading environment and control framework to identify potential gaps/weaknesses and propose solutions.
• Relationship Management:
  Create strong working relationships with control and process owners as a mechanism for identifying and mitigating electronic trading risk.
• Advisory Services:
  Provide guidance on the evolving Electronic Trading risk landscape and associated control functions.
• Risk Acceptance & Policy Exception Oversight:
  Work with key stakeholders to establish & evaluate policy & policy exception requests, driving risk acceptance conclusions as appropriate.
• Reporting:
  Develop metrics and reporting to measure and monitor Key Risk Indicators. Oversight of the creation and maintenance of risk and control documentation.
• Assesses risks and…