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Money Laundering Reporting Officer for Italy

Milan, , Italy

Job Description:

Job Title: MLRO for Italy
Corporate Title:  up to Director
Location:  Milan

Company Overview:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.  Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

The Team:

Our established EMEA Financial Crime team consists of 16 Money Laundering Reporting Officers dealing with over 47 Regulatory bodies collaboratively working with US domestic teams. Our EMEA Financial Crime team support core functions such as Investigations, Transaction Monitoring, Regulatory engagement and drive a robust monitoring and inspection program. The Team covers over 20 languages and drives a diverse and inclusive culture.

Role Description:

The MLRO for Italy, under supervision, is responsible for implementing both the global Financial Crimes Policy and any local requirements. The incumbent will advise business units and control function partners on financial crimes risks associated with clients, products and services, and help design and maintain appropriate controls to mitigate the risk. The incumbent will work on a dynamic team with opportunities to engage with partners locally, in region, and globally


• Produces and 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

• Monitors the changes in regulations applicable to global financial crime, including advising business leaders on those changes

• 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

• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

What we are looking for:

•             Demonstrable years of anti-money laundering and financial crime experience in a similar or related role in a financial institution, legal or consultancy firm or with a regulatory or government authority
•             Ability to influence with impact in both the Italian and English languages, engaging across various levels of stakeholders, including very senior stakeholders and board levels and with regulators in Italy or elsewhere in Europe
•             Sound risk management skills and an ability to apply discernment, and to escalate concerns when necessary
•             Excellent stakeholder communication skills
•             Ability to self-identify priorities, deliver to deadlines
            Great teammate, willing to interact and discuss issues in a team environment, and take pride in your work
•             Able to deliver a flexible and solutions-driven perspective, to solve problems and to seek answers to complex issues
•             The ability to synthesize laws, rules and regulations into practice

Bank of America:

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer, and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

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

Learn more about this role

Full time


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