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As a member of a FLU compliance officer team, this role applies business acumen to promote a culture of compliance and the identification, escalation and timely mitigation of compliance risks by assisting FLU Compliance teams with any of the following activities listed below.
To provide day-to-day oversight of Compliance coverage for the FICC businesses within the EMEA region, focussing primarily on Credit businesses
Create and maintain a regulatory inventory
Update relevant policies to ensure they reflect regulatory requirements for FICC
Participate as required in department initiatives in respect of regulatory developments and impact analysis on the firm's business and support groups
Contribute to compliance risk assessments
Contribute to monitoring and testing coverage plans and related metrics
Monitor the effectiveness of the front line unit and control function compliance risk controls for FICC
Identify aggregate, report and escalate compliance risks, issues and control enhancements for FICC
Helping senior members of the team to implement the necessary control enhancements that have been identified as part of the overall Compliance risk mitigation exercise
Ensuring that all monitoring is conducted and helping the team to develop new and enhancing current risk-based monitoring routines
Helping senior members of the team to ensure any conflicts of interest are appropriately managed
Opining on compliance aspects and application of FCA, PRA, OCC, SEC, FED, CTFC and any other relevant regulatory rules
Keeping abreast of UK, US, European and other relevant legislation and regulatory developments
Assisting with regulatory investigations and incidents within FICC
Provision and coordination of regular Compliance training to the various desks
Preparation of management information for senior Compliance management
Working closely with Compliance colleagues and testing teams to improve FICC surveillance and testing architecture and to review potential instances of market misconduct raised
Participate as required in internal investigations into potential breaches of regulatory requirements or firm policy
Skills and qualifications:
Educated to a degree level, or relevant industry/vocational qualifications
Excellent interpersonal skills
Ability to take decisions when required and to escalate when necessary
Fixed Income product knowledge
Some relevant experience of working on a Fixed Income trading floor in an advisory/control function capacity involved in the review and approval of transactions would be beneficial, but not essential
Influences decisions and outcomes through effective communications
Speaks and acts with confidence
Understands the company's overall strategy, how our businesses operate and how we succeed against competitors and generate profits
Demonstrates a bias for action and a commitment to achieving sustainable results
Weighs the relative importance, adequacy, and validity of information to form fact-based opinions, solve problems and make sound recommendations
Assesses Compliance Risk in the activities of a FLU
Drives accountability for Compliance Risk mitigation
Provides expertise and insight regarding applicable laws, rules, regulations and regulatory guidance to manage compliance risk
About Bank of America Merrill Lynch
Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses. The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch's responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.
If you're interested in this opportunity please send your details to us by applying online. 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 mindset 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 gender, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.