Bank Of America Global Financial Crimes Specialist- Economic Sanctions 

United Kingdom, England, London 

78201660

Job Description:

Job Title:Global Financial Crimes Specialist-Global Economic Sanctions

Corporate Title:Up to VP

Join our bustling Bromley office, situated in one of London’s greenest boroughs. Here you’ll find plentiful and easy commuting routes, with central London just 15 minutes away by train.

This teamadvises 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 specific to sanctions.

Role Description:

This individual is responsible for executing substantive economic sanctions compliance and operational risk practices in any sanctions related matters requiring input, assisting Global Economic Sanctions (GES) executives. This individual will establish and maintain relationships with key stakeholders within the Front Line Units (FLUs) and Control Functions (CFs), GFC risk executives and managers and internal audit using effective influence skills; and engage in external regulatory interactions.

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 specific to sanctions.

• Produces and/or oversees independent sanctions related risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders.

• Monitors the changes in regulations applicable to sanctions, 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 sanction risks.

• Escalates sanctions 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 sanctions.

• 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.

• Draft and maintain sanctions-related Risk Assessments in alignment with the GFC Enterprise Policy, Standard, and Risk Assessment Methodology.

• Input into sanctions related risk assessments and leverage available data and analytical tools during the planning, execution, and oversight of the risk assessment process as applicable.

• Support the drafting and execution of actions plans to prepare for any regulatory deliverables and exams.

• Support the drafting and respond to regulatory partners working with other GES colleagues on voluntary sanctions self-disclosures, subpoenas, and license requests.

• Demonstrable sanctions experience

• Demonstrable business and functional experience

• Regulatory Compliance Experience

• Risk Management Experience

• Policies, Procedures, and Guidelines Management

• Strategy Planning and Development

• External Resource Management

• Reporting Experience

• Bachelor’s or equivalent experience

Skills that will help:

• Financial Services and/or related government entity
• JD or advanced degree preferred
• Legal background (law firm or other) valuable

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner

• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons

• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum

• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.

• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.

• Access to an Employee Assistance Program for confidential support and help for everyday matters

• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.