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Global Economic Sanctions (“GFC”) Specialist

Jersey City, New Jersey;

Job Description:

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!

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.


  • 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
  • Deep understanding of economic sanctions regulations and laws (OFAC, UN, EU, UK etc.), internal sanctions screening processes, and the ability to apply that knowledge for risk analysis, monitoring and testing, and sanctions list management
  • Provide oversight of Front Line Units with matters involving economic sanctions concerns, specifically with understanding investment and corporate banking financing, products, and terminology
  • Support the economic sanctions list management function; including, but not limited to, vendor engagement, development of technology requirements, governance of changes, and monitoring of list content, delivery, and timeliness


  • Regulatory Compliance
  • Monitoring, Surveillance, and Testing
  • Critical Thinking
  • Risk Management
  • Issue Management
  • Policies, Procedures, and Guidelines Management
  • Written Communications
  • Talent Development
  • Coaching
  • Reporting

Required Skills

  • Bachelor’s degree or Equivalent experience is required
  • 3+ years’ experience in economic sanctions
  • Preferred candidates with experience in economic sanctions advisory and risk analysis
  • Preferred candidates with understanding of business, markets, and products
  • Ability to handle multiple compliance projects in a dynamic environment with competing priorities across a global team setting
  • Excellent business stakeholder management and communication skills


1st shift (United States of America)

Hours Per Week: 


Learn more about this role

Full time


Manages People: No

Travel: No

Jersey City pay and benefits information

Jersey City pay range:

$75,000 - $105,600 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.


This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.