Explore: Accountancy and financial services
Vice President, Risk and Compliance
Bank of America
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| Maame
Risk & Compliance |
|
| 00:02 | My name is Maame. I am a Vice President in the Global Compliance and Operational Risk Division of Bank of America Merrill Lynch. |
| 00:12 | How I like to explain my role is think of how you have regulators like OFSTED for schools, banks also have these kind of regulators. The main ones within the United Kingdom are the Financial Conducts Authority and the Prudential Regulatory Authority. So teachers and head teachers help schools to adhere to the rules set up by OFSTED. Compliance and Operational Risk, we do the same. So we help the bank, the various employees here, to understand the rules set up by the Financial Conducts Authority and the Prudential Regulatory Authority and we help them adhere to them and be compliant, hence the name Compliance and Operational Risk. |
| 01:04 | My mum is a businesswoman. She’s into import and exports so she runs a number of shops, different businesses, so one of my jobs when I finished Junior High School when I had some time on my hands was to help her run her shops. |
| 01:21 | One of the things that motivates me, as cheesy as this sounds, is making a difference in this world and inspiring young girls to achieve greater heights just because for my own story I was a young girl who grew up without a father in Ghana, right, West Africa and look at me here today, so if I could have done that who knows what you can do and mind you it’s not like I grew up with this vision in mind of wanting to work for an international bank or an international conglomerate, right, so what could a young girl achieve if they dared to dream and work towards those dreams? |
| 02:08 | Don’t allow anything to dictate to you what you can be or who you can be or not, dream big and chase outside those dreams. The only thing or the only person that can stop you is you. |
| 02:23 | END OF TRANSCRIPTION |
“It’s not like I grew up with this vision in mind of wanting to work for an international bank.” Maame grew up without a father in Ghana, West Africa. She now works at Bank of America, helping ensure the bank operates effectively and fairly.
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More information about Finance and investment analysts and advisers
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£52,520
average salary
The UK average salary is £29,813
38
average weekly hoursThere are 37.5 hours in the average working week
70%
male
30%
female
The UK workforce is 47% female and 53% male
Future employment
Future employment
Description
Finance and investment analysts and advisers advise customers, who may be individuals, companies or specialist groups, on the purchase of investments, insurance, mortgages, pensions and other financial services and products.
Qualifications
There are no formal academic requirements although entrants usually possess GCSEs/S grades and a degree in a relevant subject is sometimes required. Training may be undertaken in-house or entrants may attend courses run by professional institutions. Registration with a regulatory authority is required in some positions.
Tasks
- Predicts the likely long- and short-term future performance of securities and other financial products and advises upon what will be an appropriate investment for their clients
- Analyses the financial position of clients, considering outgoings, dependants and commitments
- Advises on the relative merits of pension schemes, insurance policies and mortgages that best meet the needs of clients given their personal circumstances
- Monitors information on the socio-economic environment and interprets the implications of such information for their clients
- Prepares summary reports of findings for fund managers
- Keeps up to date with financial products, legislation and requirements for compliance with the relevant regulatory authority
- Identifies and attracts new clients by arranging visits and explaining the benefits of financial products
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