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Bank Of America Sanctions Risk Specialist United States, North Carolina, Charlotte 71672655
Job Description:
Job Description:
Global Economic Sanctions (“GES”) is responsible for dedicated compliance and operational risk management of processes unique to economic sanctions.
The Sanctions Risk Specialist is a function within GES that is responsible for the identification, aggregation, reporting, and escalation of sanction related risks. The Sanctions Risk Specialist is responsible for the execution of risk management responsibilities in areas such as sanctions advisory, issues management, and monitoring and testing from a sanctions compliance and risk perspective. This role is an individual contributor within the Sanctions Technology Oversight Team.
The Sanctions Risk Specialist may engage in the following processes to evaluate and assess FLU/CF controls, sanctions-specific second line functions and controls, and residual risks related to economic sanctions:
- Identify, implement, and execute monitoring and testing routines to verify key controls within the sanctions screening technology and operations teams
- Evaluate and manage monitoring objectives and pertinent details in ORCIT
- Serve as test owner/test owner representative and maintain test plans/scripts in OCP and socializing the information with the appropriate stakeholders
- Determine if Audit Issues or Control Enhancements are warranted based on oversight results
- Draft, own and resolve to completion Audit Issues/CE when warranted
- Oversee screening technology audit issues related to sanctions
- Provide background/summary of key matters identified via oversight functions to GFC management
- Communicate results to key stakeholders, respond to auditors and regulators, prepare presentation to regional and global risk committees and conduct risk analysis and research on economic sanctions related matters
- Execute or assist in executing economic sanctions periodic and/or targeted risk assessments
- Provide priority, business requirements and guidance on technology changes to sanctions technology teams
- Establish, maintain and oversee FLU/CF inventory data feeds to sanctions filters
- Provide guidance and oversee new lists within the sanctions screening technology
- Maintain and oversee lists applicability, in consultation with Money Laundering Reporting Officers, within the sanctions screening technology
- Review and provide approval of new rules, in consultation with Money Laundering Reporting Officers, within the sanctions screening technology
- Critical Thinking
- Monitoring, Surveillance, and Testing
- Regulatory Compliance
- Risk Management
- Policies, Procedures, and Guidelines Management
- Written Communications
- Reporting
Required Qualifications:
- Minimum 5 years of business and/or functional experience in financial services industry, risk management, financial crimes, testing, or experience in a related field
- Minimum 3 years of experience in economic sanctions
- Minimum 3 years of experience in monitoring, testing, and/or quality assurance/quality control experience
- Bachelor’s degree or equivalent work experience
Desired Qualifications:
- Financial Services and/or related government entity
- Ability to handle multiple projects in dynamic environment and global team setting
- Excellent business stakeholder management and communication skills
- Strong Excel skills
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