Operational Risk Full Time Analyst | Bank of America | Job Alert | Latest Jobs in Mumbai 2022
Bank of America is one of the world’s major financial organisations, offering a comprehensive range of banking, investing, asset management, and other financial and risk management products and services to individuals, small and middle-market enterprises, and large corporations. The corporation has about 56 million consumer and small business ties in the United States. It is a global leader in corporate and investment banking and trading, as well as one of the world’s major wealth management firms.
Operational Risk Full Time Analyst Job Description
The APAC Compliance & Operational Risk (COR) team is central to the Bank’s culture and a critical component of our risk management discipline. The COR team mitigates against Compliance risk, which is the risk of legal or regulatory sanctions, material financial loss, or damage to the company’s reputation caused by the company’s failure to comply with the requirements of jurisdictional laws, rules, and regulations (LRRs); and Operational risk, which is the risk of loss caused by inadequate or failed internal processes, people, and systems, or external events.
The COR Program at the Bank is a comprehensive set of systematic practises put in place by the company to ensure that applicable LRR requirements are met and operational risk is appropriately managed. The APAC COR team serves two primary functions: 1) acting as trusted partners to the front line by assisting in the interpretation of written laws, rules, and regulations (LRR) and regulatory expectations, and 2) performing “check and challenge” on front line practises and processes to ensure the Bank is fully compliant at all times.
The COR team is critical because it assists front-line staff in generating business through a much broader lens that encompasses the Bank’s risk appetite, leverages global best practises, and focuses on compliant growth while operating independently from the front lines. We are the “second pair of eyes” responsible for mitigating regulatory, reputational, and other risks.
- Work with and learn from the HK Country COR team on matters and regulatory issues relevant to the entities based in Hong Kong from a Country perspective.
- Work with and learn from one or more regional Front Line Unit (FLU) Compliance teams – for example, Research, Investment Banking, Equity, FICC, etc – on matters specific to these line/s of business, not only from a Country perspective, but also from an Asia point of view.
- Work with and learn from one or more Enterprise Compliance teams based in HK – for example, Registrations & Licensing, Associate Investment Management etc – on matters that are relevant to the whole Enterprise, cutting across lines of business both regionally, and in some instances, globally.
- You will conduct data analysis, project management, policy analysis and research in an effort to build a strong GCOR holistic foundation & understanding. As part of this role, there will be constant engagement with multiple parties at the Bank, including front-line leaders, regulators, Legal counterparts, control functions etc.
- Final year Undergraduate/Master’s students with outstanding academic achievement
- Major in Compliance or related field (e.g. Law) preferred, but students from other streams with a solid understanding of or keen interest in the financial industry are welcome to apply
- Strong and effective verbal and written communication in English. Knowledge of business Mandarin and/or Japanese would be considered added advantages
- Being comfortable with change and adjust to dynamically changing demands and requirements
- Strong team player and client-focused, clearly demonstrating energy and drive, keenness to dig deep into subject matter, and learning quickly