Description
Bank of America has an opening for a Vice President to join the ET COR Team to establish and own electronic trading compliance and risk management in APAC for its Global Markets (Equities & FICC) businesses.
The ET COR team operates as part of the Second Line of Defense, providing independent governance and oversight of electronic trading compliance and risk management across the Firm.
Responsibilities:
- Ensure requirements of the Global Compliance Enterprise Policy, the Operational Risk Management Enterprise Policy, and the Compliance and Operational Risk Management Program and Standard Operating Procedures are implemented and identify, challenge, escalate, and mitigate risks in a timely manner.
- Provide an independent view of APAC Electronic Trading risks and assess the effectiveness of the Electronic Trading control environment.
- Identify and assess risks related to the APAC electronic trading businesses and activity.
- Own, drive, and participate in relevant governance, steering, and working group committees.
- Actively and pro-actively engage with Business Units, Infrastructure Groups, and Control Partners to shape the control framework.
- Oversight of intra-day limit monitoring and approval of front-office trading limits and controls.
- Review all major incidents and control failures.
- Review execution of relevant procedures and assess assurance mechanisms.
- Undertake independent assessments of the electronic trading environment and control framework.
- Create strong working relationships with control and process owners.
- Provide guidance on the evolving Electronic Trading risk landscape and associated control functions.
- Work with key stakeholders to establish and evaluate policy and policy exception requests.
- Develop metrics and reporting to measure and monitor Key Risk Indicators.
- Assess risks and effectiveness of Front Line Unit (FLU) processes and controls.
- Engage in activities to provide independent compliance and operational risk oversight of FLU or Control Function (CF) performance.
- Identify and escalate problems or issues that arise and drive actions to address the root causes.
- Manage inventory of processes, risks, controls, and associated metrics.
- Assist in the development of independent risk management reporting.
- Analyze and interpret applicable laws, rules, and regulations to provide clear and practical advice to stakeholders.
Required Skills:
- Bachelor’s Degree minimum.
- Minimum of 5 years’ worth of work experience in the financial services industry.
- Electronic trading experience is highly desirable.
- Deep understanding of APAC regulatory framework and market micro structure.
- Familiarity with execution strategies and electronic execution algorithms.
- Experience from within an Execution Services business.
- Exposure to electronic execution algorithms.
- A broad understanding of Operational Risk issues.
- An understanding of regulatory trends and future requirements.
- Experience in risk management around Sales & Trading systems.
- Experience with software development lifecycle controls.
- Experience in relationship management.
- Strong interpersonal skills.
- Strong project management and organization skills.
- Ability to multitask and prioritize.
- Ability to work under pressure and to tight deadlines.
- Flexible and self-motivator.
- Excellent communication skills.