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Job Description:
Job 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.
The Global Financial Crimes (“GFC”) Specialist role will support the execution of the Company’s Global Financial Crimes Risk program. The role will be focused on reviewing 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 support 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 Specialist will engage with Global Financial Crimes Risk Managers, 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.
Activities this role performs include, but are not limited to:
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
Identify potential insider trading and market abuse/market manipulation through surveillances and analysis of trading activity
Executing monitoring routines and evaluating test results to identify potential trends, patterns or gaps in GFC oversight of the financial crimes program
Conducting risk assessments and threat assessments to identify new or emerging financial crimes risks
Required Qualifications:
College degree OR equivalent working experience in Self-Regulatory Organization/Government Entity experience
Ability to use Microsoft Excel (VLOOKUP and Pivot tables) and Power Point applications
Desired Qualifications:
Ability to analyze data using SQL
CAM Certification
Audit and/or Economic Sanctions experience
CFE Certification
Investigations skills and strong interest in data analytics
Proficient with large data sets and ability to manipulate data for presentations to Senior Leadership
Series 7, 63 or Securities Industry Essentials (SIE) Exam
Skills:
Regulatory Compliance
Monitoring, Surveillance, and Testing
Critical Thinking
Risk Management
Issue Management
Policies, Procedures, and Guidelines Management
Written Communications
Talent Development
Coaching
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