Job Description:
Job Title:
Product Risk Manager Corporate Title:
Vice President or Director Location:
London 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. Responsibilities We are looking for a Product Risk Manager to join our GPS EMEA Product Management team, a key Product risk & regulation role focusing on ensuring our risk routines are carefully managed, assisting our Product owners throughout the product lifecycle. You will be responsible for non-financial regulatory reporting (NFRR) accountability for GPS EMEA owned reports, Product Risk input into ongoing Operational Resiliency work as mandated by FCA, PRA, CBI, ECB and act as a key liaison for GPS with risk partners. Working closely with GPS global product risk on managing all reporting and meeting routines ensuring visibility of all risks in region, support on global audits and assist with new product/non-standard approvals. You will also work with the GPS Risk team to promote best practice and consistent risk reporting metrics and identifying thematic issues. Role activities and responsibilities may include: Managing regular routines with Product teams & other partners to identify, track and review current open issues (SIAIs/CEs/MRA), watch items, up-coming regulations & new product initiatives in the pipeline. Work with control partners such as Business Controls, COO, Global Banking Risk, Global Financial Crimes Committee (GFCC), Global Compliance and Operational Risk (GCOR) and other non-Line of Business (LOB) partners on all GPS risk matters. Support GPS Product & Sales team on all audit/regulatory exams/compliance assessments. Support all regulatory implementation projects and ensure regulatory requirements are clearly understood and issues or conflicts in legal and regulatory requirements escalated as appropriate. Non-Financial Regulatory Reporting (NFRR) ownership accountability for GPS EMEA owned reports. Input into ongoing Operational Resiliency work as mandated by FCA, PRA, CBI, ECB etc. Assist with new product and non-standard approvals - in particular regional legal entity approval. Active participation in the key governance forums including Business Control forums, Regulatory Initiative forums, Product & Sales level governance forums, Legal Entity Governance Routines. Perform regulatory horizon scanning including consultation reviews/submissions to allow GPS to better respond to new regulations and help provide meaningful input to industry consultations. Represent GPS EMEA on regional and global regulatory projects. What we are looking for Experience in payments/transaction services and risk management experience in compliance/financial crimes/audit/sanctions/anti-money laundering (AML). Strong risk focused professional with knowledge of transaction banking products and key regulations. Experience in managing discussions with Audit/Compliance/Regulators. Ability to navigate across global and cross-functional teams. Excellent presentation skills. Transaction Banking/Cash Management/Trade Finance Risk experience within a large, global financial institution. Familiarity with upcoming alternative payment methods in the market and associated regulations. Familiarity or previous involvement in compliance, legal or regulatory projects or remediation. Ability to read and interpret regulations and guidance notes and apply them in the commercial context. Understanding of governance around regulatory and legal projects as well as knowledge of risk and reporting routines, committees, and terminology. Benefits of working at Bank of America Private healthcare for you and your family plus an annual health screen. Competitive pension plan, life assurance and group income protection cover. 20 days of back-up childcare and access to school holiday clubs. The ability to change your core benefits as well as the option of selecting a variety of flexible benefits. Access to an emotional wellbeing helpline and Employee Assistance Program. Ability to donate to charities of your choice directly through payroll. Opportunity to access our Arts & Culture corporate membership program. Opportunity to give back to your community through volunteering. 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 any protected characteristic.
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Product Risk Manager Corporate Title:
Vice President or Director Location:
London 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. Responsibilities We are looking for a Product Risk Manager to join our GPS EMEA Product Management team, a key Product risk & regulation role focusing on ensuring our risk routines are carefully managed, assisting our Product owners throughout the product lifecycle. You will be responsible for non-financial regulatory reporting (NFRR) accountability for GPS EMEA owned reports, Product Risk input into ongoing Operational Resiliency work as mandated by FCA, PRA, CBI, ECB and act as a key liaison for GPS with risk partners. Working closely with GPS global product risk on managing all reporting and meeting routines ensuring visibility of all risks in region, support on global audits and assist with new product/non-standard approvals. You will also work with the GPS Risk team to promote best practice and consistent risk reporting metrics and identifying thematic issues. Role activities and responsibilities may include: Managing regular routines with Product teams & other partners to identify, track and review current open issues (SIAIs/CEs/MRA), watch items, up-coming regulations & new product initiatives in the pipeline. Work with control partners such as Business Controls, COO, Global Banking Risk, Global Financial Crimes Committee (GFCC), Global Compliance and Operational Risk (GCOR) and other non-Line of Business (LOB) partners on all GPS risk matters. Support GPS Product & Sales team on all audit/regulatory exams/compliance assessments. Support all regulatory implementation projects and ensure regulatory requirements are clearly understood and issues or conflicts in legal and regulatory requirements escalated as appropriate. Non-Financial Regulatory Reporting (NFRR) ownership accountability for GPS EMEA owned reports. Input into ongoing Operational Resiliency work as mandated by FCA, PRA, CBI, ECB etc. Assist with new product and non-standard approvals - in particular regional legal entity approval. Active participation in the key governance forums including Business Control forums, Regulatory Initiative forums, Product & Sales level governance forums, Legal Entity Governance Routines. Perform regulatory horizon scanning including consultation reviews/submissions to allow GPS to better respond to new regulations and help provide meaningful input to industry consultations. Represent GPS EMEA on regional and global regulatory projects. What we are looking for Experience in payments/transaction services and risk management experience in compliance/financial crimes/audit/sanctions/anti-money laundering (AML). Strong risk focused professional with knowledge of transaction banking products and key regulations. Experience in managing discussions with Audit/Compliance/Regulators. Ability to navigate across global and cross-functional teams. Excellent presentation skills. Transaction Banking/Cash Management/Trade Finance Risk experience within a large, global financial institution. Familiarity with upcoming alternative payment methods in the market and associated regulations. Familiarity or previous involvement in compliance, legal or regulatory projects or remediation. Ability to read and interpret regulations and guidance notes and apply them in the commercial context. Understanding of governance around regulatory and legal projects as well as knowledge of risk and reporting routines, committees, and terminology. Benefits of working at Bank of America Private healthcare for you and your family plus an annual health screen. Competitive pension plan, life assurance and group income protection cover. 20 days of back-up childcare and access to school holiday clubs. The ability to change your core benefits as well as the option of selecting a variety of flexible benefits. Access to an emotional wellbeing helpline and Employee Assistance Program. Ability to donate to charities of your choice directly through payroll. Opportunity to access our Arts & Culture corporate membership program. Opportunity to give back to your community through volunteering. 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 any protected characteristic.
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