Bank Of America Global Financial Crimes Manager - Markets 

United States, New York, New York 

274193174

Job Description:

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.

The Global Financial Crimes (“GFC”) Manager – Global Markets and Global Wealth &Investment Management Risk (hereinto referred to as “GFC Risk Manager”) is responsible for the execution of the Company’s Global Financial Crimes Risk program. The role will be focused on activity in Global Markets – Bank of America Securities (“BofAS), and Global Wealth Investment Management – Merrill Lynch, Pierce, Fenner & Smith (“MLPFS”) as well as Bank of America Private Bank and Consumer Investments/Merrill Edge. The team will focus on detecting, escalating, and reporting potential suspicious activity to meet BSA regulatory expectations as well as supporting internal policy requirements. The candidate will use various tools and data analysis to identify, escalate and mitigate risks associated with Anti-Money Laundering (“AML”), such as insider trading, market manipulation and other specified unlawful activities under the Bank Secrecy Act (“BSA”).

The GFC Risk Manager will engage with GFC Specialists, Global Financial Crimes Executives, Financial Crimes Investigators, Compliance and Operational Risk (“C&OR”) officers and Control Partners to identify potential trends and themes to further develop and enhance our financial crimes oversight.

This leader will partner with the FLU, 2nd Line Surveillance/Testing teams, Operations, and other GFC teams to analyze business processes, internal controls, client behavior and transaction trends, as well as pursue ad-hoc projects related but not limited to regulatory inquiries, trading around market moving news events, such as merger and acquisitions, drug trials, secondary offerings, corporate scandals announcements and internal escalations. The position will also require one to engage with the firm’s analytics and technology teams to assist in the enhancement/development and build of GFC surveillances models designed to detect potentially suspicious activity associated with regulatory guidance issued by the SEC, FINRA and other Self-Regulatory Organizations (“SROs”). The position will require one to develop and perform data analysis to assess financial crimes oversight and reporting functions and identify opportunities to improve the control and reporting environment. You will conduct risk assessments and threat assessments to identify new or emerging financial crimes risks. You will be engaged in transaction monitoring activities and relationship closure recommendations, communicating key decisions to senior leaders and influence FLU business practices.

Experience in using Excel (VLOOKUP and Pivot tables) and Power Point applications, as well as ACAM and/ CFE Certification and Audit, Economic Sanctions or Compliance experience preferred.

Securities licenses Series 7, 63 or Securities Industry Essentials (SIE) Exam a plus.

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

• Ensure adherence to all internal policies and standards, regulatory requirements, and industry best practices.

• Escalate financial crimes matters related to BofAS,MLPFS as well as Bank of America Private Bank and Consumer Investments/Merrill Edgeand issues to appropriate governance routines, management/board level committees.

• Routinely interface with Front Line Unit (“FLU”) leaders on matters related to GFC for BofAS andMLPFS as well as Bank of America Private Bank and Consumer Investments/Merrill Edge

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:

• 7 Years Financial Industry orother relevantexperience

• Degree required: Bachelor’s degree or equivalent experience

• Demonstrated In-depth knowledge of institutional and retail trading/products

• 5 years’ professional work experience with AML/BSAor Surveillance

Desired Qualifications:

Financial Services and/or related government entity​ background

1st shift (United States of America)