| Job Description: |
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for its international businesses and is a long-established participant in Asia Pacific with a presence since 1947. With 23 offices in 12 geographies, covering nine currencies, more than a dozen languages and five time zones, the company offers an integrated and comprehensive set of products and services across Global Corporate & Investment Banking, Global Markets and Wealth Management, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise.
Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion mission.
Bank of America Merrill Lynch offers a broad range of products and services across corporate banking, corporate finance and advisory, capital markets, debt and equity sales and trading.
Supporting our Global Banking and Markets (GBAM) teams in Asia, this position will be based in Singapore or Hong Kong and will sit within the Business Controls Function - which is part of the GBAM COO organization and is the key control partner for the front office line of business heads.
The GBAM group includes:
- Global Markets - our Global Markets professionals are at the centre of the world's debt and equity markets, providing liquidity, hedging strategies, industry leading insights, analytics and competitive pricing to more than 3,500 assets managers, banks, hedge funds and pension funds across 13 time zones and six continents
- Global Corporate & Investment Banking (GCIB) provides large domestic and global corporations and financial institutions with merger and acquisitions advice, treasury and liquidity services, and payments, trade finance and cash management. GCIB also works in close coordination with Global Capital Markets and to advise on, structure and underwrite capital raising transactions in the equity and debt capital markets on behalf of issuer clients globally.
Job Description The role will be responsible for managing Business Controls across the 3 banking businesses in Asia Pacific , namely, Corporate banking, GTS, and Leasing working for the GTS COO and Business Supervisions & Controls Executive.
Responsibilities will include:
- Supporting the management of the business in the strategic understanding and practical mitigation of their control risks
- Understanding and implementing the front office supervision and control arrangements using the firm's tools (including who is supervising whom, at what activities, how and how well)
- Helping to drive control initiatives across Asia Pacific group to ensure the business is effectively managing all its operational risks
- Understanding and helping assess root cause and mitigating controls for operational losses and errors and developing and improving routines to capture control metrics for reporting Key Risk Indicators (KRIs) and for developing the Risk & Control Self-Assessments of the business in the region
- Managing audit issue identification and remediation and handling Audit and Regulatory visits as the control face of the business
- Helping to ensure key business continuity processes are in place and effective
- Performing deep-dives into producer activities and the economics and risks of products to identify control weaknesses or gaps in processes and activities and remediating weaknesses
- Working with Enterprise Control Functions (Operations, Legal and Compliance, Finance, Risk, IT, HR, Audit) to ensure end-to-end processes for all client and trade activity are controlled
- Working with the Enterprise Control Functions such as Compliance/GFCC to execute on regulatory policies to maintain or enhance controls with the front office
- Working across the region with the Business Control and COO teams in each country to ensure that the controls framework is common and effective in each location and responding to local issues
- Being the regional representative in global Business Supervision & Control projects and co-ordinating the flow of information to/from the region.
- To work with the GTS APAC COO on budgets, expenses, client-related presentations, workspace, etc with the aim to enable/support the GTS global and regional franchise .
Requirements You will:
This role may suit a member of a COO or business unit management group or an Operations or Risk professional with a strong understanding of the front office environment. Alternatively you will have an Audit, Financial Control, Compliance or front office Technology background - and in any case you will have considerable business experience
- be suitably registered/qualified (registration is not a pre-requisite)
- have extensive global markets industry experience
- possess a strong background in infrastructure or support of the products and processes, with specific Asia experience preferred
- have good project/program management skills: ability to run complex, collaborative analytical projects
- have a strong academic background or equivalent
- have good IT skills and the ability to develop ad hoc solutions
- have exceptional communication/relationship skills.
- Control Mindset: a commitment to ensuring that the business does the right thing
- Creative Thinking : the ability to generate new ideas and possibilities, and to see business opportunities - and risks - with a constructive perspective
- Commercial/Client Orientation : an underlying desire to help the business serve clients and a motivation to ensure that others' needs are met
- Consulting Skills : an ability to provide added value, including innovative approaches and new or improved solutions
- Flexibility : the capacity to adapt approach in light of shifting priorities or changing conditions
- Personal Effectiveness: strong communication, decisiveness, energy, drive, courage and character. A thinker - and a doer
- Team Orientation / Teamwork / Collaboration: The willingness to work as a member of a broad team in a matrix organization.
Posting Date: 12/12/2016
Location: HK--Hong Kong, SG--Singapore
Full / Part-time: Full time
Hours Per Week: 40