Bank Of America Global Financial Crimes Issues Oversight Specialist 

United States, North Carolina, Charlotte 

82702040

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 - Issues Oversight (hereinto referred to as “Issues Oversight Specialist”) assists Global Financial Crimes executives and managers in support of the GFC Issues Management program in alignment with the Global Financial Crimes Enterprise Policy, Standard, and Enterprise Issues standard. The Issues Oversight Specialist oversees the inventory of issues across GFC inclusive of managing the inventory, maintaining reporting, and proactively escalating concerns and/or emerging risks. Additionally, the Issues Oversight Specialist assists in preparing materials for regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audit deliverables related to the issues inventory.

The Issues Oversight Specialist will proactively identify and escalate “at risk” issues, remediation gaps and roadblocks which could affect timeliness of resolution or execution, as well as ensure adherence to all internal policies and standards, regulatory requirements, and industry best practices. The role will also establish and maintain strong relationships with key stakeholders, GFC risk executives and managers, and internal audit, and it will develop subject matter expertise of BSA/AML, Sanctions, and Fraud related risks and a solid business understanding of application of these risks within a large financial institution. This position is an individual contributor, and it may provide informal coaching on the issues management process to teammates within GFC.

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.

• Provide execution oversight for an assigned issue portfolio, including both managed and owned issues across GFC.

• Prepare and deliver reporting to leadership regarding performance, trends, themes, and risks, and ensuring adherence to the enterprise issues standard.

• Coordinate with GFC Leadership and Risk Managers for issue/action plan development, governance/approval, resolution, and closure.

Skills:

• Critical Thinking

• Monitoring, Surveillance, and Testing

• Regulatory Compliance

• Risk Management

• Issue Management

• Policies, Procedures, and Guidelines Management

• Written Communications

• Coaching

• Reporting

• Talent Development

Required Qualifications

• Minimum Years Business & Functional Experience: 5 Years

• Degree Required: Bachelor’s or equivalent experience

• Competency with Microsoft Office: Outlook, Word, PowerPoint, Excel

Desired Qualifications

Financial Services and/or related government entity​ background

1st shift (United States of America)