Website Merrill Lynch
The Compliance and Operational Risk (“C&OR”) Specialist assists the C&OR officer team in activities to contribute to the 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 (“CORM”) Program and Standard Operating Procedures (SOPs).
- Identify, aggregate, report and escalate compliance and operational risks, issues and control enhancements for FLU/CF.
Create and maintain a regulatory inventory.
- This role will support compliance and operational risk for GWIM Banking business transformation projects, including assisting in the development and execution of 2nd line testing, monitoring and assessments.
- Escalate regulatory relations concerns to Compliance and Operational Risk Manager or Executive.
- Identify compliance and operational risk training needs and inspect FLU/CF and third party participation for FLU/CF.
- Assist with preparations for regulatory exams and audits for FLU/CF.
- Contribute to monitoring and testing coverage plans and related metrics.
- Identify, review and document relevant external loss events.
- Assist in the execution of governance and management routines.
- Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed for FLU/CF.
- Support group’s work to review and challenge the FLU/CFs’ Risk & Control Self-Assessments (RCSA)
- Conduct compliance and operational risk assessments.
Update relevant policies to ensure they reflect regulatory requirements for FLU/CF.
- Conduct monitoring and testing activities to check the effectiveness of the front line unit and control function compliance and operational risk controls.
- Identify, collect, validate and record internal loss events and “near misses.” Contribute to root cause analyses on internal loss events and develop remediation plans to strengthen controls.
- Ability to analyze business processes, assess risks, identify control gaps and weaknesses
- Ability to build partnerships and effectively work across the Enterprise to complete responsibilities
- Experience working with laws, rules and/or regulatory requirements, particularly within the banking space
Qualification & Experience:
- Strong presence and ability to concisely communicate a point of view verbally and in writing.
- Degree Required: Bachelor’s Degree or equivalent experience
- 3+ years experience in compliance, operational risk, audit, legal, business controls and/or product management
- Ability to manage multiple priorities and deliverables.
- Experience working in Retail Financial Services or similarly regulated sector
- Ability to work collaboratively as part of a team and also function independently when required
Company: Merrill Lynch
Vacancy Type: Full Time
Job Location: Charlotte, North Carolina, US
Application Deadline: N/A