Global Financial Crimes Specialist

at  Bank of America

SKILLS/QUALIFICATIONS THAT WILL HELP:

• Certification: ACAMS – Association of Certified Anti-Money Laundering Specialists.
• Monitoring, Surveillance, and Testing experience.
• Regulatory compliance and risk management experience.

ROLE 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 Policies and the Enterprise Fraud Risk Management Standards.

RESPONSIBILITIES:

• Supports 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.
• Assists in the production of independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders
• Assists in the monitoring of 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.
• Contributes to risk coverage plans, executes independent risk monitoring, testing, and risk assessments,
• Supports with escalating financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees,
• Assists in the identification, aggregation, reporting, and escalation of the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes,
• Assists in the review of internal and external operational loss events, including the development of remediation plans to strengthen controls and providing oversight to ensure they are addressed appropriately,
• Execute and Provide Support for Jurisdictional and Global Program Elements.
• Execute process with quality, within control, and within process timeliness standards; actively managing process.
• Queue management and process reporting.
• Support MLRO and regional teams for multi-jurisdictional case reviews in a timely manner; effectively escalate as required.
• Monitoring and Testing: Maintain close working partnerships with EIT and business; drive schedule execution against agreed plan; partner with executive process leads; review/calibrate results; move beyond output testing and ensure process and control understanding before, during and as results are concluded; communicate effectively with FLU teams in partnership with MLRO/Risk Management executives.
• Supporting MLRO to delivering financial crimes training materials based on global and jurisdictional requirements.
• Preparing governance materials for key Governance, Senior Management Routines and Regulatory discussion.
• Coordinate; and support MLROs during formal exams, audits, questionnaires, compliance reports,
• Supporting Issue management oversight for GFC owned and AML flagged issue concerns.
• Supporting filing or oversight of Non-Financial Regulatory Reporting
• Support MLRO Managed processes including records and list management and NFRR requirements.
• Procedures Management: Upgrade desk top procedures, user tools, cross-training, and business continuity management
• Operational Excellence and Process Simplification: Assess manual activities for automation and process improvement