Job Description:
Job Title: Compliance and Operational Risk Manager
Corporate Title: Vice President
Location: Paris
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.
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!
Location Overview:
Based in the 8th arrondissement and within the Parisian Golden Triangle, our beautiful Art-Deco era office benefits from luxury modern workspaces, an abundance of natural light and is easily accessible by public transport.
Role Description:
This job is responsible for executing second line of defence compliance and operational risk oversight for CFO valuation activities in Bank of America’s EMEA entities. The role reviews and challenges these activities such as the calculation, governance, controls, data quality and regulatory reporting of Prudential Valuation adjustments.
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.
A successful applicant should have strong technical understanding of EU prudential requirements (Capital Requirements Regulation/Directive, Prudent Valuation and Additional Valuation Adjustments), valuation methodologies, and the end‑to‑end capital reporting and governance framework, combined with the ability to assess data quality, controls, and model risk. They should also bring well‑developed second‑line skills, including independent challenge, regulatory engagement, issue management, and the ability to translate complex valuation and regulatory concepts into clear risk assessments for senior management and supervisors.
Responsibilities:
Assesses risks and effectiveness of Front-Line Unit (FLU) processes and controls to ensure compliance with applicable laws, rules, and regulations, while responding to regulatory inquiries, other audits, and examinations
Engages in activities to provide independent compliance and operational risk oversight of CFO valuations activities in Bank of America’s EMEA entities 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
Manages inventory of processes, risks, controls, and associated metrics for risk appetite and limits, reporting violations of compliance or regulatory activities
Assists in the development of independent risk management reporting for respective area(s) of coverage as input into country/regional governance and management routines
Analyses and interprets applicable laws, rules, and regulations to provide clear and practical advice to stakeholders, and identify and manage risks
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 applicable regulatory changes
Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.
Models an inclusive environment for employees and clients, aligned to company D&I goals
Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data-based decision making and continuous improvement
Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions
Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues
Provides inspection, coaching and feedback to motivate, differentiate and improve performance
Actively manages expenses and budgets in alignment with objectives, making sound financial decisions
Assesses talent and builds bench strength for roles across the organization
Delivers results by effectively prioritizing, inspecting and appropriately delegating teamwork
What we are looking for:
Several years’ experience in financial services
Bachelor’s Degree
Advisory
Monitoring, Surveillance, and Testing
Regulatory Compliance
Reporting
Risk Management
Critical Thinking
Influence
Interpret Relevant Laws, Rules, and Regulations
Issue Management
Policies, Procedures, and Guidelines Management
Business Process Analysis
Decision Making
Negotiation
Process Management
Written Communications
Skills that will help:
The nice-to-haves as opposed to the essential requirements for the position
We recommend keeping this to between 2 and 4 bullet points
Benefits of working at Bank of America (France):
Competitive retirement plan in addition to State plans
Mandatory Medical Plan provided by the bank as a top-up to Social Security health benefits for you and your family.
Employees and family members can receive free health advice 24/7 through a range of English and French speaking medical providers
Life and disability insurance
Time Savings Account (‘CET’) to save some of your leave days, cash them out or use them later
Reimbursement of 50% of your commuter pass
Nursery scheme for children under age 3
Works council benefits
Access to an Employee Assistance Programme for confidential support and help for everyday matters
Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering with local charities
Opportunity to receive free entry to arts exhibitions sponsored by Bank of America in Paris
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 sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.