Job Description:
Job Title: Country Compliance and Operational Risk Manager
Corporate Title: Assistant Vice President
Location: Istanbul
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.
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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!
Role Description:
This job is responsible for ensuring the identification, escalation, and timely mitigation of compliance and operational risks in the countries covered, in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy and the Compliance and Operational Risk Management Program and Standard Operating Procedures.
Key responsibilities include proactively engaging with other Compliance and Operational Risk (COR) officers, including Enterprise and Independent Areas of Coverage, to provide comprehensive oversight of Front Line Unit (FLU)/Control Function (CF) activities and preparing materials for COR regulatory exams/audits/inquiries. Job expectations may include providing assistance to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries and Money Laundering Reporting Officer responsibilities.
Role Responsibilities:
- Leads the execution of the Global Compliance and Operational Risk (GCOR) Program in the country, delivering each element on time, and to the required standard, including the effective review and challenge of Front Line Units and Control Functions
- Provides independent country Compliance and Operational Risk (COR) reporting to GCOR senior leaders, country and regional management, and legal entity management via established governance and management routines
- Understands and maintains knowledge of compliance and operational risks in the country and represents GCOR on country senior management and legal entity governance forums, reporting on current state, and escalating issues or concerns, including the communication of emerging compliance and operational risks
- Engages with local regulators, participating in meetings between business leaders and regulators and supporting responses to regulatory inquiries on COR functions
- Ensures maintenance of a comprehensive regulatory inventory for the country, including identification and assessment of law, rule and regulation changes affecting activities in the country, advising business leaders of relevant changes, directing appropriate actions by impacted COR teams, and review and challenge of the overall implementation plan to meet new requirements
- Ensures Compliance and Operational Risk "owned" issues (i.e., Internal Audit, Regulator, and Self-Identified issues) are addressed appropriately and timely in the respective country
- Completion of Annual and Targeted C&OR risk assessments
- Regulatory relationship and query/exam management
- Creation and delivery of compliance training
- Evaluation of internal and external audit results, issues raised by the regulators and Corporate Audit with the relevant LoBs and CFs. Address and resolve the issues, including self-identified, together with the relevant functions.
- Creation and execution of Monitoring & Testing ("M&T") activities and following-up on remediation actions
- Identification and Implementation of the Regulatory Changes
- Creation and update of C&OR Policies/ Procedures
What we are looking for:
- Fluent in Turkish and English
- Extensive experience in a financial services regulatory and compliance environment in Banking and/or Capital Markets in a similar role
- Experience working with BRSA or CMB
- Experience and knowledge of internal control, IT internal control and/or internal audit will be a plus
- Degree Required: Bachelor's Degree
- Knowledge of financial industry, banking and capital markets law, rules and regulations
- Certificates such as CISA, CIA will be a plus
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.