Job Description
Tax EAC Compliance & Ops Risk Manager page is loaded
Tax EAC Compliance & Ops Risk Manager
Apply locations Pennington Charlotte Jacksonville time type Full time posted on Posted 7 Days Ago job requisition id 24013233Job Description:
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!
Job Description:
This job is responsible for the execution of the Global Compliance - Enterprise Policy, the Operational Risk Management - Enterprise Policy and the Compliance and Operational Risk Management (CORM) Program. Key responsibilities include identifying, escalating, and mitigating risks in a timely manner, engaging with Front Line Units and Control Functions (FLU/CF) leaders globally, coordinating with the FLU/CF Compliance and Operational Risk Officer teams, executing the CORM Program and the Policies, identifying themes and trends, and conducting analysis for new and emerging risks.
The Tax EAC Enterprise Area of Coverage (EAC) Compliance & Operational Risk (C&OR) Manager is a subject matter expert on specific processes, controls, laws, rules and/or regulations that have enterprise-wide applicability, affecting two or more Front Line Units (“FLU”) or Control Functions (“CF”), with respect to the Tax area of coverage.
This role is responsible for the execution of the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”), the Enterprise Regulatory Reporting Policy and the Compliance and Operational Risk Management (“CORM”) Program.
The Tax GCOR Manager provides support and guidance regarding the management of the monitoring and testing Tax EAC regulatory inventory. Reviews and performs monitoring activities in a timely manner in alignment with the CORM Program and the Policies. The role engages with FLU/CF leaders globally and deliver monitoring and testing results.
The Tax EAC C&OR Manager identifies themes and trends, conducts analysis for new and emerging risks and recommends approaches to mitigate these risks in the area of Tax, including additional building of monitoring and activities.
The Tax EAC C&OR Manager assists in engaging other C&OR officers, including horizontal coverage owners and EAC, to provide comprehensive oversight of monitoring and testing FLU/CF activities.
Responsibilities:
- Assesses risks, associated controls and their effectiveness, driving compliance with applicable laws, rules, and regulations and adhering to policies
- 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
- 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, including opening new issues based on risk severity in the centralized issues tool.
- Manages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities
- Analyzes and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks including monitoring the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintaining a comprehensive regulatory 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
- Responds to regulatory inquiries, other audits, and examinations and identifies regulatory training needs supporting the development of the training curriculum.
- 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.
- Monitors the regulatory environment to identify regulatory changes applicable to Tax, advises business leaders on those changes and may build monitoring activities to enhance GCOR coverage.
- Evaluates regulatory changes for impact upon Tax requirements, to ensure applicable coverage through monitoring activities.
- Ensures C&OR “owned” issues and control enhancements are identified and addressed appropriately and timely & Contributes to or leads development of risk coverage plans, executes and / or oversees execution of monitoring, testing and risk assessments, and communicates results with risk coverage officers
Required Qualifications:
- 7+ years Business & Functional Experience
- Bachelor's Degree or Equivalent experience
- Must possess understanding of navigating a matrixed environment.
- Ability to understand applicability of tax laws, rules, and regulation across global lines of business.
Desired Qualifications:
- Preferred Experience in banking, brokerage and or tax industries.
- In depth knowledge of tax laws, rules, and regulations.
Skills:
- Advisory
- Regulatory Compliance
- Reporting
- Risk Management
- Written Communications
- Interpret Relevant Laws, Rules, and Regulations
- Policies, Procedures, and Guidelines Management
- Active Listening
- Analytical Thinking
- Negotiation
- Business Process Analysis
- Issue Management
- Monitoring, Surveillance, and Testing
- Adaptability
Shift:
1st shift (United States of America)Hours Per Week:
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locations Charlotte time type Full time posted on Posted 30+ Days AgoBank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.
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