About the Company
Bank of America is one of the world’s leading 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. With a commitment to responsible growth and a focus on our communities, we strive to make financial lives better through the power of every connection.
Job Description
Bank of America is seeking a dedicated and detail-oriented Online Compliance Officer to join our team, specifically focusing on regulatory compliance related to our services and interactions with individuals aged 18. In this critical role, you will ensure all online platforms, products, and communications adhere strictly to federal, state, and internal regulations pertaining to young adults transitioning into full financial independence. This position requires a proactive approach to identifying potential risks, implementing robust compliance frameworks, and conducting thorough monitoring to safeguard both the institution and our younger clientele.
Key Responsibilities
- Develop, implement, and maintain compliance policies and procedures tailored to services for 18-year-old teens.
- Monitor online activities, platforms, and marketing materials to ensure adherence to relevant financial regulations, consumer protection laws, and data privacy standards (e.g., COPPA, GLBA, UDAAP as they apply to this demographic).
- Conduct regular compliance reviews and audits, identifying potential areas of non-compliance and recommending corrective actions.
- Collaborate with legal, product development, and marketing teams to ensure new offerings and campaigns are compliant from inception.
- Provide training and guidance to internal teams on best practices for engaging with and serving 18-year-old clients online.
- Investigate and resolve compliance-related inquiries, issues, and customer complaints.
- Stay abreast of changes in financial regulations, technological advancements, and industry best practices affecting the target demographic.
Required Skills
- Proven experience in compliance, risk management, or regulatory affairs within the financial services industry.
- Strong understanding of federal and state banking regulations, consumer protection laws, and data privacy acts relevant to young adults.
- Excellent analytical skills with the ability to interpret complex regulations and apply them to business practices.
- Exceptional communication and interpersonal skills, capable of working effectively across various departments.
- Proficiency in compliance monitoring tools and digital platforms.
- Bachelor's degree in Finance, Business Administration, Law, or a related field.
Preferred Qualifications
- Professional compliance certification (e.g., CRCM, CAMS).
- Experience with compliance specific to online banking, digital products, or youth programs.
- Master's degree or Juris Doctor (JD).
- Familiarity with emerging technologies and their impact on regulatory compliance.
Perks & Benefits
- Comprehensive health, dental, and vision insurance.
- 401(k) retirement plan with company match.
- Generous paid time off and holidays.
- Tuition reimbursement and professional development opportunities.
- Employee assistance program and wellness initiatives.
- Employee discounts on banking services.
How to Apply
If you are interested in this position, please click the "Apply Now" button below. To ensure your application is properly considered, please prepare the following:
- An up-to-date Resume or CV
- A brief cover letter summarizing your experience and motivation
Applications are reviewed on a rolling basis. Only shortlisted candidates will be contacted for an interview.
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