Global AML Operations: Sr Business Control Specialist – Life Cycle Management

Bank of America•Fort Worth, TX

14d•Onsite

About The Position

This job is responsible for driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation. The Global AML Operations (GAO) organization is a central control function which governs, facilitates, and oversees the end-to-end AML program across all GB, GM businesses and jurisdictions globally and manage AML risks by implementing and executing processes and controls to effectively manage AML and economic sanctions risks. Life Cycle Management Group is part of AML Operations. The Life Cycle Management Group supports Global Banking (GB), Global Markets (GM), and Consumer Businesses detecting high risk within business through ongoing monitoring and due diligence. This is managed through 4 Centers of Excellence (COEs) - AML Screening, Client Activity Monitoring, Enhanced Client Due Diligence (ECDD) and Economic Sanctions. GAO provides enterprise-wide governance and oversight of the AML framework across Consumer, Merrill Lynch, and Consumer Investment businesses. As a critical component of AML Operations, the Life Cycle Management Team is dedicated to protecting the organization from financial crime risks by conducting client screening, ongoing monitoring, and enhanced due diligence activities throughout the client lifecycle, ensuring regulatory compliance and effective risk management.

Requirements

Controls Management
Issue Management
Monitoring, Surveillance, and Testing
Quality Assurance
Risk Management
Analytical Thinking
Attention to Detail
Critical Thinking
Problem Solving
Written Communications
Decision Making
Innovative Thinking
Prioritization
Recording/Organizing Information
Research
Experience interacting with AML/KYC, compliance, risk partners, and senior management
Bachelor’s degree in related field or equivalent experience
Detail oriented with ability to analyze and consolidate complex KYC and screening information. Understanding of evolving Laws, Rules and Regulations for AML is core and applying this to day-to-day-engagement with both operations and bankers is key to success
Ability to work well under pressure, adapt to unexpected events, prioritize and multi-task in a fast pace deadline driven environment
Research Analysis
Strong written and verbal communication skills
Proficient in Microsoft Office applications, including Excel, Word, and SharePoint

Nice To Haves

AML or compliance-based knowledge is an advantage for this role
Enterprise Financial Crimes Standard, Global AML program, BSA and USA Patriot Act
Working knowledge of laws, rules, and regulations and ability to identify and escalate risk
ACAMS accreditation

Responsibilities

Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation
Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
Performs QA activities including executing on controls, managing cases, and reporting results
Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success
Supports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting
Review client and party screening for determination of adherence to Laws, Rules, and Regulations
Manage complex client types and collection of enhanced due diligence
Complete analysis and/or reviews of clients who fall under the purview of Global AML Operations
Support Audit, Exam and/or Testing processes, ensure proper governance and protocol is followed; assist with preliminary research and response tracking
Provide solutions to help with implementation of process improvements or remediation plans to drive efficiencies and demonstrate control sustainability
Coordinate and partner across other support teams and stakeholders to ensure end-to-end process engagement and timely resolution of monitoring cases
Proactive in risk identification and mitigation through activity monitoring processes