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Director, Global Financial Crimes Manager

Sydney, Australia

Job Description:

About Bank of America:

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the World

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Position Description

This position is the Money Laundering Reporting Officer (MLRO) for Australia. The company’s local and global regulators require that the Firm in Australia has a central contact point for AML/CTF issues and suspicious activity filing in Australia.

Anti-Money Laundering (AML) Enterprise Process Oversight is responsible for establishing common baseline process requirements, ensuring appropriate controls and adherence to the policy and standard requirements for Anti-Money Laundering, and driving compliance and operational excellence across the enterprise front line units and vendors responsible for those requirements.

Key Responsibilities

 The Global Financial Crimes Compliance (“GFC”) Specialist under supervision, assists Global Financial Crimes Compliance executives and managers in any of the following activities in support of the identification, escalation and timely mitigation of compliance risks in alignment with the Compliance Risk Management (“ CRM”) Program and the Financial Crimes and Global Compliance Enterprise Policies ("GC Policy”):

  • Maintain and communicate regulatory changes, advise and direct business leaders to ensure that regulatory requirements are addressed in their respective process and controls so that their day to day activities operate in a compliant manner.
  • Provide the LOB with correct advice around CDD and other AML/CTF escalation issues in Australia that is consistent with Global Financial Crime Compliance Enterprise standards and local requirements
  • Engage other compliance officers, Enterprise Areas of Coverage roles, and horizontal function roles to provide oversight of Front Line Units (FLU) and Control Function (CF) activities
  • Update relevant policies to ensure they reflect regulatory requirements for Financial Crimes.
  • Conduct compliance risk assessments.
  • Contribute to monitoring and testing coverage plans and related metrics.
  • Monitor and test the effectiveness of the front line unit and control function compliance risk controls.
  • Execute governance and management routines.
  • Identify aggregate, report and escalate compliance risks, issues and control enhancements.
  • Identify compliance training needs and inspect Front Line Unit (“FLU”), Control Function (“CF”) and third party participation for Financial Crimes.
  • Assist with preparations for and participate in regulatory exams and audits for Financial Crimes.
  • Escalate regulatory relations concerns to GFC Compliance Manager or Executive.
  • This role is responsible for ensuring consistent quality of activities, processes and outputs by engaging in effective review practices across the team.

Key Requirement

  • Minimum Years Business & Functional Experience: 10 to 15 Years
  • Assesses Compliance Risk in the activities of a FLU/CF or the Company
  • Drives Accountability for Compliance Risk Mitigation
  • Communicates and Escalates Compliance Risk and partners with EAC teams to escalate EAC risks as applicable
  • Provides expertise and insight regarding applicable laws, rules, regulations and regulatory guidance to manage compliance risk
  • Degree Required:  Bachelor’s or equivalent experience
  • Certifications: CAMS is preferred
  • Anti-money laundering/financial crimes experience in a financial institution or government position in a Financial Services institution and/or related government entity is desired
  • Solid knowledge of AML typologies
  • Analytical, organized and possess decision making skills

Learn more about this role

Full time


Manages People: No


Talent Acquisition Contact:

Referral Bonus:

Street Address

Primary Location:
1 FARRER PLACE, Sydney, 2000