Job Description:
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 an 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.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
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 executing substantive money laundering, economic sanctions and fraud compliance and operational risk practices. Key responsibilities include working directly or through compliance officers for the Front Line Units (FLUs) and Control Functions (CFs) to complete compliance, policy, operational/fraud risk management requirements.
Responsibilities:
Advises and directs the development and maintenance of financial crimes owned policies and standards, and reviews relevant Front Line Units/Control Functions-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed
Produces and/or oversees independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders
Monitors the changes in regulations applicable to Global Financial Crimes, including advising business leaders, directing the appropriate areas to implement or amend policies, standards, procedures and/or processes to address regulatory requirements, and challenging the implementation plan as needed
Participates in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers to identify and mitigate emerging risks
Escalates financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees
Identifies, aggregates, reports, escalates, inspects, and challenges the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes
Reviews and challenges internal and external operational loss events, including the development of remediation plans to strengthen controls and providing oversight to ensure they are addressed appropriately
Additional Job Specific Responsibilities:
Data Projects Function - Ensures data products meet customer needs and adhere to enterprise standards and policies Manage data product backlog including prioritization, requirements, engaging customers and technology partners, overseeing development and delivery, and maintaining documentation. Communicates business needs and technology context effectively to stakeholders.
Policy & Security Product Function - Owns Data Entitlements and Access Management for GFC Data Owns Change Management coordination and compliance Owns policy/procedure alignment and health Owns access management including approval process and model health Provides administrative support as necessary
Data Issue Tracking Function - Define and manage the issue tracking framework for data-related problems. Partner with platform product owners to ensure tooling and procedures are in place to triage and resolve root causes of data issues. Ensure transparency in issue reporting and resolution Evaluate effectiveness of data issue management solutions in meeting regulatory compliance and business needs.
Data Quality Oversight of the following areas - Prioritize initiatives that enhance detection through data quality and integrity. Develop requirements for data stewards that help improve data quality through validation rules, data profiling, and remediation processes. Evaluate effectiveness of data quality solutions in meeting business needs for the GFC Detection group Manage the product backlog for metadata and lineage, ensuring data traceability and compliance. Engage stakeholders to clarify metadata requirements and oversee development. Evaluate effectiveness of metadata management solutions in meeting regulatory compliance and business needs. Ensure metadata captures data contained and enables correct handling of data , such as data retention DRD (Data Requirement Document)
Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.
Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.
Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.
Skills:
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
Required Qualifications:
Minimum of seven years of relevant experience
Knowledge of anti-money laundering (AML) and related AML legislation
7+ years relevant work experience with business and technology projects including process improvement/re-engineering and technology change efforts Knowledge of project tools (JIRA experience preferred)
Experience with and knowledge of Agile project management methodology
Process design oriented
Ability to work in a fast-paced environment while maintaining attention to detail and accuracy
Ability to facilitate meetings, capture key outcomes/actions and own product documentation Intermediate proficiency using Microsoft Office products such as Word, Excel, PowerPoint, Project and in Visio
Strong decision making skills with an assertive and proactive communication style
Strong communication skills (verbal, written and presentation) and active listening skills
Must be proficient in data management to include strong data analytic capability
Must have strong organizational skills and be able to handle multiple tasks Enthusiastic, energetic, determined and positive – especially under pressure Critical thinker and risk minded
Desired Qualifications:
Bachelor’s Degree in related field
Experience in financial services and/or a related government entity
Certified Anti-Money Laundering Specialist (CAMS)
Preferred Technical Skills:
Risk Identification & Assessment
Issues Management & Resolution
Line of Business (LoB) Products, Services & Acumen
Financial Crimes Risk Programs
Credible Challenge
Regulatory Knowledge
High Risk Activities & Typologies
Data Analysis, Interpretation & Decisioning
Risk Control & Mitigation
Financial Crimes Compliance Risk Principles
Shift:
1st shift (United States of America)Hours Per Week:
40