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Global Financial Crimes Manager - Fraud coverage for GBAM

Charlotte, North Carolina;

Job Description:

The Global Financial Crimes (“GFC”) Manager executes substantive money laundering, economic sanctions and fraud compliance and operational risk practices relevant to the manager's specific area of responsibility. The GFC Manager is accountable for the requirements of the Global Compliance and Financial Crimes Enterprise Policies, Compliance and Operational Risk Management Program (“CORM Program”), the Global Compliance - Enterprise Policy, the Operational Risk Management – Enterprise Policy (collectively “the Policies”) and the Enterprise Fraud Risk Management Standard and works directly or through compliance officers for the Front Line Units (“FLUs”) and Control Functions (“CFs”) to complete those requirements.

The GFC Manager proactively engages with other Chief Compliance and Operational Risk (“C&OR”) officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The GFC Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries. The GFC Manager also contributes as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team or may act as an individual contributor.

Activities this role performs include, but are not limited to:

• Produces and/or oversees independent financial crimes risk management reporting to Global Compliance & Operational Risk (“GC&OR”) Senior Leaders and FLU/CF Senior Leaders via established governance and management routines
• Participates in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers (trade associations, PACs, lobbyists, consumer groups, and media) in the EAC subject area to identify and mitigate emerging risks
• Identifies regulatory training needs and provides subject matter expertise to support the development of training curriculum
• Advises and directs the development and maintenance of financial crimes owned policies and standards and the review of relevant FLU/CF-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed
• Monitors the changes in regulations applicable to Global Financial Crimes, including advising business leaders on those changes, 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; ensures a comprehensive regulatory inventory
• Identifies, aggregates, reports, escalates, inspects and challenges the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes
• Escalates financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees
• Responsible for the remediation of financial crimes related C&OR “owned” issues and control enhancements to ensure they are addressed appropriately and timely
• Participates in the development and maintenance of the global financial crimes coverage plan which defines the scope and risk-based focus of the second line’s risk management activities and/or oversees execution of monitoring, testing, and risk assessments, communicate results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
• Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
• Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Additional activities may include:
• Partners in the filing of all regulatory reports for the Company related to Financial Crimes
• This role may have Money Laundering Reporting Officer responsibilities

This role is also responsible for ensuring consistent quality of activities, processes and outputs by establishing effective review practices across teams or processes. This role may contribute as a team leader on various projects or aspects of the role.

Required Skills: Minimum Years Business & Functional Experience: 7 Years
Degree Required: Bachelor’s degree or equivalent experience

Desired Skills: Financial Services and/or related government entity


Required Skills:
•     7+ years of experience in a combination of compliance, operational risk and/or fraud experience
•    Data Reporting / Analytics and Data Controls
•    Demonstrated ability executing the Bank’s Risk Framework and identifying, escalating and remediating risk
•    Ability to work well with different groups across the enterprise and debate and influence senior management and stakeholders consistent with our Risk framework
•    Business acumen - Understanding of Bank of America products and services


Desired skills:
•    In-depth Fraud industry, reporting and/or controls experience
•    Very strong business process knowledge and ability to collect and analyze data
•    Data Policy and Standards
•    Working knowledge of Bank of America’s fraud-related systems of record, e.g., MOC, HULC, ORCIT, and others.
•    In depth knowledge of or certification in law, rule, regulation or area of coverage (ie: SCRA, Privacy); Desired: Association of Privacy Professional (IAPP) accredited certification programs for Privacy EAC

Job Band:

H4

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

The Global Financial Crimes (“GFC”) Manager executes substantive money laundering, economic sanctions and fraud compliance and operational risk practices relevant to the manager's specific area of responsibility. The GFC Manager is accountable for the requirements of the Global Compliance and Financial Crimes Enterprise Policies, Compliance and Operational Risk Management Program (“CORM Program”), the Global Compliance - Enterprise Policy, the Operational Risk Management – Enterprise Policy (collectively “the Policies”) and the Enterprise Fraud Risk Management Standard and works directly or through compliance officers for the Front Line Units (“FLUs”) and Control Functions (“CFs”) to complete those requirements.

The GFC Manager proactively engages with other Chief Compliance and Operational Risk (“C&OR”) officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The GFC Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries. The GFC Manager also contributes as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team or may act as an individual contributor.

Activities this role performs include, but are not limited to:

• Produces and/or oversees independent financial crimes risk management reporting to Global Compliance & Operational Risk (“GC&OR”) Senior Leaders and FLU/CF Senior Leaders via established governance and management routines
• Participates in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers (trade associations, PACs, lobbyists, consumer groups, and media) in the EAC subject area to identify and mitigate emerging risks
• Identifies regulatory training needs and provides subject matter expertise to support the development of training curriculum
• Advises and directs the development and maintenance of financial crimes owned policies and standards and the review of relevant FLU/CF-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed
• Monitors the changes in regulations applicable to Global Financial Crimes, including advising business leaders on those changes, 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; ensures a comprehensive regulatory inventory
• Identifies, aggregates, reports, escalates, inspects and challenges the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes
• Escalates financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees
• Responsible for the remediation of financial crimes related C&OR “owned” issues and control enhancements to ensure they are addressed appropriately and timely
• Participates in the development and maintenance of the global financial crimes coverage plan which defines the scope and risk-based focus of the second line’s risk management activities and/or oversees execution of monitoring, testing, and risk assessments, communicate results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
• Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
• Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Additional activities may include:
• Partners in the filing of all regulatory reports for the Company related to Financial Crimes
• This role may have Money Laundering Reporting Officer responsibilities

This role is also responsible for ensuring consistent quality of activities, processes and outputs by establishing effective review practices across teams or processes. This role may contribute as a team leader on various projects or aspects of the role.

Required Skills: Minimum Years Business & Functional Experience: 7 Years
Degree Required: Bachelor’s degree or equivalent experience

Desired Skills: Financial Services and/or related government entity


Required Skills:
•     7+ years of experience in a combination of compliance, operational risk and/or fraud experience
•    Data Reporting / Analytics and Data Controls
•    Demonstrated ability executing the Bank’s Risk Framework and identifying, escalating and remediating risk
•    Ability to work well with different groups across the enterprise and debate and influence senior management and stakeholders consistent with our Risk framework
•    Business acumen - Understanding of Bank of America products and services


Desired skills:
•    In-depth Fraud industry, reporting and/or controls experience
•    Very strong business process knowledge and ability to collect and analyze data
•    Data Policy and Standards
•    Working knowledge of Bank of America’s fraud-related systems of record, e.g., MOC, HULC, ORCIT, and others.
•    In depth knowledge of or certification in law, rule, regulation or area of coverage (ie: SCRA, Privacy); Desired: Association of Privacy Professional (IAPP) accredited certification programs for Privacy EAC

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21078116

Band: H4

Manages People: No

Travel: Yes, 5% of the time

Manager:

Talent Acquisition Contact:

Lana McCalmon

Referral Bonus:

0