Global Financial Crimes Manager

Bank of America•Jersey City, NJ

11d•$105,000 - $170,000

About The Position

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day. Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! Job Description: This job is responsible for supporting the execution of substantive money laundering, economic sanctions and fraud compliance and operational risk practices. Key responsibilities include assisting Global Financial Crimes executives and managers with activities that support the identification, escalation and timely mitigation of compliance and operational risks in alignment with the Compliance and Operational Risk Management (CORM) Program, the Financial Crimes and Global Compliance - Enterprise Policy and Global Standard and the Enterprise Fraud Risk Management Standards. This individual contributor role is responsible for partnering in and contributing to the oversight the Company's Global Financial Crimes Program for Global Wealth Management, Global Markets, Wealth Management Operations and Global Markets Operations (collectively the Front Line Units) in compliance with the Bank Secrecy Act/Anti-Money Laundering laws, rules and regulations. This role requires a strong risk management discipline, experience with operational risk processes and ability to identify and assess inherent financial crimes risk and controls. This individual must also have strong communication skills in order to be able to influence and impact the effectiveness of Front Line Units controls and be able to drive the consistent improvement and strengthening of these controls to improve upon the Company's ability to detect and prevent unusual or suspicious activity.

Requirements

Minimum 7 years of relevant experience in financial services industry, preferably broker/dealer experience
Minimum 5 years experience working in anti-money laundering (AML), compliance, audit, risk or a process/controls focused position
Knowledge of anti-money laundering (AML) and related AML legislation
Understanding of risk operations, including back office support of the risk business function and executing transactions
Motivated, self-starter
Critical Thinking
Monitoring, Surveillance, and Testing
Regulatory Compliance
Risk Management
Coaching
Issue Management
Policies, Procedures, and Guidelines Management
Strategy Planning and Development
Written Communications
External Resource Management
Reporting
Talent Development
Risk Identification & Assessment
Issues Management & Resolution
Line of Business (LoB) Products, Services & Acumen
Financial Crimes Risk Programs
Enhanced Due Diligence
Credible Challenge
Customer Due Diligence
Regulatory Knowledge
High Risk Activities & Typologies
Financial Crimes Compliance Risk Principles

Nice To Haves

Bachelor’s Degree in related field
Proficiency in Python, R, or SQL, with experience in coding detection techniques for AML scenarios used in financial crime investigations.
Working knowledge of big data technologies (e.g. Hadoop) a plus
Experience in financial services and/or a related government entity
Must be a self-motivated worker who is comfortable and effective working with varying levels of guidance
Strong personal drive, attention to detail, individual initiative, a sense of urgency and responsiveness, with a desire to grow, learn, and take on increasing levels of responsibility
Proven process design and project management skills
Proficient in Microsoft Office Products including advanced knowledge of Excel
Ability to successfully communicate to influence management and lead change on both strategic and tactical initiatives.
ACAMS – Association of Certified Anti-Money Laundering Specialists
FINRA Series 7 and/or Series 24 license

Responsibilities

Lead discussions with Front Line Units, Global Compliance & Operational Risk (GCOR) and Global Financial Crimes (GFC) partners to analyze business processes, internal controls, client behavior and transaction trends
Direct the development and maintenance of financial crimes policies and standards, and review relevant Front Line Units/Control Functions -owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed
Contribute to the creation and implementation of GFC Coverage Plan which defines the scope of coverage for the Front Line Units.
Produce and/or oversee independent financial crimes risk management reporting to GCOR and Front Line Units Senior Leaders
Establish, monitor and report on GFC, Front Line Units and Enterprise risk tolerance metrics that are reflective of key risks within the areas of coverage
Monitor regulatory changes applicable to financial crimes focusing specifically on broker-dealer impacts
Advise Front Line Units Senior Leaders on key regulatory developments in BSA/AML laws, rules and regulations
Design monitoring and testing routines and reporting to identify potential AML risks and/or control weaknesses
Conduct targeted risk assessments, threat assessments and process understandings to identify new or emerging financial crimes risks
Perform independent review, challenge of Single Process Inventory (SPI), and ensure Front Line Units comply with execution of challenges and/or issues raised
Engage directly with Audit to provide advice and guidance on Front Line Units Audits and respond to all Audit requests and inquiries
Participate in Regulatory Meetings and Exams to provide Risk Manager perspective on critical issues
Participate in industry forums and monitors 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, management/board level committees
Identify, aggregate, report, escalate, inspect and challenge the remediation and thematic analysis of Front Line Units owned issues and control enhancements related to financial crimes

Benefits

This role is eligible to participate in the annual discretionary plan.
Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
This role is currently benefits eligible.
We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure.

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