Bank Of America Global Financial Crimes Executive - Correspondent Banking 

United States, North Carolina, Charlotte 

8657894

Job Description:

Job Description:
This job is responsible for managing risks associated with financial crimes, and ensuring compliance with laws, rules, and regulations related to money laundering, economic sanctions, anti-bribery, corruption, and fraud. Key responsibilities include providing oversight, making strategic decisions, and advising on how to effectively manage these risks while adhering to key regulations. Job expectations include leveraging expertise, judgement, and influence to ensure compliance and operational risk management objectives and Bank Secrecy Act and Anti-Money Laundering program requirements are met.

[required to keep due to compliance and job architecture]

Responsibilities:

• Directs and oversees the identification, mitigation, and reporting of risks related to financial crimes, to include risks of non-compliance with laws, rules, and regulations and the operational risks associated with people, processes, systems, and external events

• Provides insight into the identification, aggregation, reporting, remediation and thematic analysis of front line unit/control function-owned issues and control enhancements related to financial crimes processes

• Escalates and provide guidance into financial crimes risks through the appropriate governance routines, including management/board level committees

• Monitors the external environment for regulatory change and provide updates to policies, processes, procedures, and internal controls

• Directs and oversees the development and maintenance of a global coverage plan that defines the scope and risk-based focus of global financial crimes risk management activities

Additional Job Specific Responsibilities:

The selected candidate will be or will have:

• A self-motivated worker who is comfortable and effective providing guidance to junior teammates

• 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

• Ability to successfully communicate to influence management and lead change on both strategic and tactical initiatives.

This position additionally entails:

• Leading discussions with the Global Payments Services Front Line Unit (FLU), Global Banking FLUs, Global Compliance & Operational Risk (GCOR) and Global Financial Crimes (GFC) partners to analyze business processes, internal controls, client behavior and transaction trends

• Contributing to the creation and implementation of GFC Coverage Plan which defines the scope of coverage for Global Payments Services and Global Banking FLUs – U.S and International

• Establishing the strategic direction for monitoring and reporting on GFC, FLU and Enterprise risk tolerance metrics that are reflective of key risks within the areas of coverage and escalating financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees

• Engaging with the Financial Crimes Analytics Team the Financial Intelligence Unit to drive thematic reviews of key risks associated with high risk products, payment channels, and clients and to ensure effective GFC automated detection monitoring

• Directing the completion compliance activities such as: designing monitoring and testing routines and reporting to identify potential AML risks and/or control weaknesses; conducting targeted risk assessments, threat assessments and process understandings to identify new or emerging financial crimes risks; and identifying, aggregating, reporting, escalating, inspecting and challenging the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes

• Guiding FLUs on potential financial crimes impacts in the client selection and product expansion processes

• Participating in Regulatory Meetings and Exams to provide Risk Manager perspective on critical issues and engaging directly with Audit to provide advice and guidance on FLU Audits and respond to all Audit requests and inquiries

• Participating in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers to identify and mitigate emerging risks

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: Breaks down barriers to create a more inclusive environment that supports company Great Place to Work goals.

• Manager of Process & Data: Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations.

• Enterprise Advocate & Communicator: Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success.

• Risk Manager: Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization.

• People Manager & Coach: Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance.

• Financial Steward: Efficiently allocates and manages resources across the organization to drive short and long term profitability.

• Enterprise Talent Leader: Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs.

• Driver of Business Outcomes: Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage.

Skills:

• Change Management

• Decision Making

• External Resource Management

• Regulatory Compliance

• Strategy Planning and Development

• Issue Management

• Policies, Procedures, and Guidelines Management

• Risk Management

• Talent Development

• Written Communications

• Coaching

• Fraud Management

• Inclusive Leadership

• Investigation Management

Preferred Technical Skills:

• 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

Preferred Leadership Behaviors:

• Demonstrates Sound Decision Making​

• Manages Risk​

• Drives customer-focused results​

• Leads with process discipline and operational excellence​

• Optimizes talent potential​

• Communicates and influences impactfully ​

• Leads with an enterprise mindset and values​

• Creates and drives strategy

• Demonstrates intellectual capacity and learning agility​

• Manages and scales capacity​​

Required Qualifications:

• Minimum of 7 years of relevant experience in financial services industry, financial crimes, risk management, AML compliance, regulatory compliance, investigations, operational risk management, business controls, or experience in related field

• Knowledge of anti-money laundering (AML) and related AML legislation

• 3+ years of managerial experience

• Experience with compliance reporting, regulatory reporting, SARs reports

• Experience reconciling, analyzing, and manipulating large data

• Proficiency in compliance technology, case management systems, and data analytics tools is a plus

• Strong experience and understanding of Transaction Monitoring/CDD Models and Systems

• Experience in automating manual processes and good understanding of technologies that are designed for specific AML use cases

Desired Qualifications:

• Bachelor’s Degree in related field

• 5+ years of managerial experience

• Experience in financial services and/or a related government entity

• Certified Anti-Money Laundering Specialist (CAMS)

• Experience and strong ability to work in a fast-paced, high-pressure environment and manage multiple priorities effectively

• Strong leadership and decision-making capabilities

• Ability to influence and drive change across the organization