Bank of America Corporation
Privacy Compliance Manager
Traditional Asset Manager
The Privacy Compliance Manager is a subject matter expert responsible for contributing to the independent compliance oversight of Front Line Unit (FLU) and Control Function (CF) performance and any related third party/vendor relationships by engaging with the compliance officer teams for the FLUs/CFs to independently advise those leaders on effectively managing compliance risk in the area of coverage. This role is responsible for providing enterprise wide oversight of specific laws, rules, regulations, and regulatory guidance, such as those related to SCRA (Service Members Civil Relief Act) or Registration and Licensing through the identification, escalation and timely mitigation of compliance risks in alignment with the CRM Program and the Global Compliance Enterprise Policy (GC Policy).
The Privacy Compliance Manager is accountable for the requirements in the GC Policy, working with compliance officers for the FLU and CF to complete those requirements including but not limited to the following activities:
Monitor regulatory environment in enterprise area of coverage and participate in industry forums to identify areas of focus and conduct benchmarking.
Create and maintain a regulatory inventory, communicate regulatory changes to and engage the FLU/CF in assessing impacts of regulatory changes for enterprise area of coverage.
Develop and maintain relevant policies or review relevant FLU / CF policies to ensure they reflect regulatory requirements.
Advise and direct business leaders through the compliance officers to ensure that regulatory requirements are addressed in their respective procedures and controls so that their day to day activities operate in a compliant manner in enterprise area of coverage.
Contribute to compliance risk assessments for the laws, rules and regulations related to the enterprise area of coverage.
Create monitoring and testing coverage plans and related metrics for the enterprise area of coverage.
Monitor and test the effectiveness of the FLU and CF compliance risk controls for the enterprise area of coverage.
Identify aggregate, report and escalate compliance risks, issues and control enhancements for the EAC and ensure the compliance officers for the FLU/CF are aware of issues.
Execute governance and management routines.
Identify compliance training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF and third party participation for enterprise area of coverage.
Advise compliance peers and business leaders in preparations for and participate in regulatory exams and audits for enterprise area of coverage.
Inspect that gap closure plans and commitments made regarding actions in response to Matters Requiring Attention (MRAs) and other actions related to area of coverage are completed.
Escalate regulatory relations concerns to EAC Compliance Executive.
Ensure Compliance owned issues (i.e., Internal Audit, Regulator and Self Identified issues) are addressed appropriately and timely.
The Privacy Compliance Manager reviews team deliverables to support consistent quality of activities, processes and outputs.
This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a small team, or may act as an individual contributor.
7 Years Minimum of Privacy/Compliance and/or Consumer business experience
Bachelors Degree required
Communicates effectively verbally and in writing with senior audiences, including ability to translate complex concepts into simple explanations
Acts in a decision making capacity, weighing the relative importance, adequacy, and validity of information to form fact-based opinions, solve problems and make sound recommendations
Speaks and acts with confidence, including exhibiting effective influencing skills
Understands the organization's overall strategies and how the business operates to make connections to compliance applicability and impacts
Demonstrates a bias for action and a commitment to achieving sustainable results
- Works effectively across broad groups of partners, with the ability to overcome obstacles and drive action
- Demonstrates a strong attention to detail
International Association of Privacy Professional (IAPP) certification
Charlotte, NC, BANK OF AMERICA CORPORATE CENTER, 100 N TRYON ST,
- United States
Full / Part-time
: Full time
Hours Per Week
: 1st shift
Americas, United States
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Bank of America Corporation
Website : http://www.bankofamerica.com
Bank of America Corporation, through its subsidiaries, provides various banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, corporations, and governments in the United States and internationally. The companys Consumer & Business Banking segment offers traditional and money market savings accounts, CDs and IRAs, checking accounts, and investment accounts and products, as well as credit and debit cards; and lending related products and services, working capital management, and treasury solutions. This segment provides its products and services through operating 5,100 banking centers, 16,300 ATMs, call centers, and online and mobile banking platforms. Its Consumer Real Estate Services segment offers consumer real estate products comprising fixed and adjustable-rate first-lien mortgage loans for home purchase and refinancing needs, home equity lines of credit, and home equity loans. The companys Global Wealth & Investment Management segment provides investment and brokerage, estate and financial planning, fiduciary portfolio management, cash and liability management, and specialty asset management services; and retirement and benefit plan, philanthropic management, and asset management services. Its Global Banking segment provides various commercial loans, leases, commitment facilities, trade finance, real estate and asset-based loans, and consumer loans; treasury management, foreign exchange, and short-term investing options; and debt and equity underwriting and distribution, and merger-related and other advisory services. The companys Global Markets segment offers sales and trading services for securities and derivative products in primary and secondary markets; market-making, financing, securities clearing, settlement, and custody services to institutional investor clients; and risk management products. The company was founded in 1874 and is based in Charlotte, North Carolina.