Global Financial Crimes Manager

Bank of America • Charlotte, NC

9d • $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

• 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
• 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 legislatio n
• Understanding of risk operations, including back office support of the risk business function and executing transactions
• Motivated, self-starter

Nice To Haves

• 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
• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 5,001-10,000 employees