EAC Compliance and Operational Risk Specialist

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Position Summary:
This job is responsible for supporting the execution of the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy and the Compliance and Operational Risk Management Program, and the Tax Enterprise Area of Coverage policy. The Tax EAC Risk Officer will provide independent second line horizontal oversight to ensure the Firm complies with the various LRRs that outline the U.S. and Non-U.S. IRW and Indirect Tax requirements (""Tax LRRs""). Key responsibilities include assisting with identifying, escalating, and mitigating compliance and operational risks realted to Tax LRRs in a timely manner, supporting engagement and Control Functions (FLU/CF) leaders globally, coordinating with the FLU/CF Compliance and Operational Risk Officer teams, identifying themes and trends, conducting analysis for new and emerging risks

Responsibilities:

• Assists in assessing risks, associated controls and their effectiveness, driving compliance with applicable laws, rules and regulations and adhering to policies, and developing reporting and documentation
• Engages in activities to provide independent compliance and operational risk oversight of Front-Line Unit or Control Function (FLU/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
• Assists in identifying and escalating problems or issues that arise and drives actions to address the root causes that lead to compliance risk issues and/or operational risk losses, and may assist with opening new issues in the centralized issues tool
• Maintains an inventory of processes, risks, and controls and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities
• Assists in responding to regulatory inquiries and other audits and examinations including monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintain a comprehensiveregulatory inventory, while supporting communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• 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

Required Qualifications:

• 3 years of minimum business and functional experience,
• Strong knowledge of financial markets, banking industry, equities and derivative products
• Strong technical and data analytical skills (i.e., Excel and similar applications) with experience in analyzing, managing and reporting from large sets of structured data (e.g., books and records data)
• Experience in Equity Aggregation Operations and/or Compliance (also known as Position Reporting, Shareholding Disclosures, Disclosure of Interest)
• Knowledge of key shareholding disclosure rules within the region of coverage
• Ability to produce accurate work output and reports under tight deadlines
• Communicates effectively in both oral and written formats and tailors message appropriately to audience
• Demonstrates intellectual curiosity and drives operational excellence
• Ability to think critically to quickly analyze and resolve issues
• Influences and delivers results through collaborative relationship with key partners and stakeholders
• Works independently to prioritize work and deliver against regulatory deadlines in a dynamic environment
• Ability to demonstrate a high level of integrity with a mature approach to work
• Discrete when handling confidential information

Desired Qualifications:

• Tax, audit or accounting background
• Experience interacting with regulatory agencies and/or regulatory exams
• Regulatory reporting experience and/or experience in a global markets regulatory reporting environment or exposure to position/transaction processes/life cycle (other than Equity Aggregation)
• Experience in technology implementation projects including involvement in building new or enhancing existing systems to meet complex reporting requirements​​

Skills:

• Analytical Thinking
• Regulatory Compliance
• Reporting
• Risk Management
• Written Communications
• Active Listening
• Adaptability
• Issue Management
• Monitoring, Surveillance, and Testing
• Policies, Procedures, and Guidelines Management
• Advisory
• Business Process Analysis
• Interpret Relevant Laws, Rules, and Regulations
• Process Management

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525), US - NJ - Pennington - 1600 American Blvd - Hopewell Bldg 6 (NJ2600)Pay and benefits informationPay range$70,400.00 - $123,400.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.