The Enterprise Area of Coverage Compliance Specialist, under supervision, is an individual contributor and member of an Enterprise Area of Coverage (“EAC”) Compliance team. 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) and Registration and Licensing through the identification, escalation and timely mitigation of compliance risks in alignment with the Compliance Risk Management (“CRM”) Program and the Global Compliance Enterprise Policy (“GC Policy”).
The EAC Compliance Specialist is accountable for the requirements in the Global Compliance Policy, by assisting with any of the following activities:
- Create and maintain a regulatory inventory.
- Update relevant policies to ensure they reflect regulatory requirements for enterprise area of coverage.
- Conduct compliance risk assessments.
- Contribute to monitoring and testing coverage plans and related metrics.
- Monitor and test the effectiveness of the front line unit and control function compliance risk controls for enterprise area of coverage.
- Identify aggregate, report and escalate compliance risks, issues and control enhancements for enterprise area of coverage.
Additional responsibilities include:
This role is responsible for monitoring Bank of America’s positions for the purpose of regulatory shareholder reporting in all APR jurisdictions, including, but not limited to, Large Shareholder Reporting, Takeover Panel Reporting, Short Selling Reporting in appropriate jurisdictions, and responses to issuer requests where applicable.
In addition, the team is responsible for monitoring firm holdings against regulatory hard limits, e.g., in sensitive industries, for each jurisdiction. Failure to properly report or breaches of regulatory limits can lead to regulatory fines, sanctions, and loss of business opportunity.
The candidate’s key responsibilities are:
- Perform daily monitoring and disclosure of positions held by the firm
- Take an active part in the sourcing and validation of data and functionality for the firm’s monitoring and reporting systems
- Close liaison with the Line of Business and Compliance officers to confirm positions and any other issues arising from the holding of stock in a timely manner.
- Prepare LSR, ToP, SS disclosures and responding to issuer requests as necessary.
- Liaise with compliance technology group on all matters of system enhancements.
- Engage in the analysis of new rules and regulations pertaining to the monitoring and reporting of holdings in equity as needed.
- Perform testing of shareholder reporting processes.
- Stay updated on business changes and analyze impact on the role.
- Knowledge of Financial Markets, Banking Industry and products.
- Strong verbal and written communication skills.
- Previous experience of large shareholder reporting or significant exposure to equities products within a similar environment.
- The ability to work under pressure and within tight deadlines to a consistently high level of accuracy
- Show initiative and react quickly to changes in priorities with the ability to quickly learn new procedures.
- Strong technical skills ( i.e. Excel, MS Access and other similar applications) with experience in analysing, manipulating and reporting from large sets of structured data (e.g. books and records data)
- A clear and logical thought process with a propensity to question facts and data.