Business Support Manager

Bank of America•Newark, NJ

6d•Onsite

About The Position

This job is responsible for executing substantive money laundering, economic sanctions and fraud compliance and operational risk practices. The role works directly or through compliance officers for Front Line Units (FLUs) and Control Functions (CFs) to complete compliance, policy, and operational/fraud risk management requirements.

Requirements

Minimum of seven years of relevant experience.
Knowledge of anti-money laundering (AML) and related AML legislation.

Nice To Haves

Bachelor's degree in a related field.
Experience in financial services and/or a related government entity.
Certified Anti-Money Laundering Specialist (CAMS).

Responsibilities

Advise and direct the development and maintenance of financial crimes-owned policies and standards, and review relevant FLU/CF-owned policies and standards to ensure regulatory requirements and operational risks are appropriately addressed.
Produce and/or oversee independent financial crimes risk management reporting to GC&OR Senior Leaders and FLU/CF Senior Leaders.
Monitor regulatory changes applicable to Global Financial Crimes; advise business leaders, direct appropriate areas to implement or amend policies, standards, procedures, and/or processes, and challenge implementation plans as needed.
Participate in industry forums and monitor regulatory expectations, emerging legislation and regulation, political scrutiny, litigation, and key influencers to identify and mitigate emerging risks.
Escalate financial crimes-related compliance and operational risks and issues to appropriate governance routines and management- or board-level committees.
Identify, aggregate, report, escalate, inspect, and challenge remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes.
Review and challenge internal and external operational loss events, including developing remediation plans to strengthen controls and overseeing appropriate resolution.