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Global Financial Crimes – Canada Sanctions Director

Toronto, , Canada

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
The GFC Canada Sanctions Director, is responsible for executing substantive economic sanctions compliance and operational risk practices related to providing direction in Canada in any Sanctions related matters requiring input and for assisting Global Economic Sanctions (GES) executives with the Risk Assessment program in alignment with the GFC Enterprise Policy, Standard, and Risk Assessment Methodology.

The GFC Canada Sanctions Director will establish and maintain strong relationships with key stakeholders within the Front Line Units (FLUs) and Control Functions (CFs), Global Financial Crimes (GFC) risk executives and managers, and internal audit using effective influence skills; interaction with local and international regulators is also within this role execution.


  • Apply knowledge of sanctions regulations to support the Financial Crimes Program in Canada on any sanctions related matters requiring input.

  • Review and decision transactions for potential sanctions issues and perform research on transactions stopped on the firm's sanctions screening systems, as required. Monitor the changes in sanctions regulations, including advising business leaders, directing the appropriate areas to implement or amend procedures and/or processes to address regulatory requirements, and challenging the implementation plan as needed.

  • Participate in sanction industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation, and key influencers to identify and mitigate emerging risks.

  • Oversee or execute, as applicable, the submission of Canada Sanctions-related regulatory reports.

  • Provide expert advice and counsel to FLUs/CFs in Sanctions related matters (transactions, product development, etc.)

  • Responsible for undertaking targeted risk assessments from a Sanctions standpoint for Canada and more broadly.

  • Leverage available data and analytical tools during the planning, execution, and oversight of the sanctions risk assessment process.

  • Develop subject matter expertise of sanctions risks and a solid business understanding of application of these risks within a large financial institution. 

  • Advise and direct the development and maintenance of local GFC-owned Sanctions related procedures, training, and other required documentation, and review relevant FLUs/CF-owned policies and standards to ensure that sanctions regulatory requirements and existing risks are appropriately addressed.

  • Produce and/or oversee independent sanctions risk management reporting.

  • Escalate Sanctions related compliance and operational risks and issues to appropriate governance routines, management/board level committees.

  • Challenge the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to sanctions.

  • Assist in preparing materials and deliverables for sanctions related to regulatory exams/audits/inquiries. 

  • Support the wider GES team and GES executives on other Sanctions matters as and when required.

Required Skills:

  • The successful candid will have prior experience in supporting a financial crimes program in Canada from a Sanctions standpoint and experience in risk management, as well as a good understanding of second line of defence coverage activities inclusive of risk assessments, monitoring, testing and/or quality assurance processes.

  • Significant experience of 7+ years and knowledge of Financial Crimes / Canadian Economic Sanctions program requirements and their application to Global Banking and Markets businesses, including Ministerial Directives; must be familiar with regulations, best practices and tools and associated Sanctions local regulatory reporting. Knowledge of US OFAC is expected and understanding of any other sanctions regulations would also be valuable.

  • Experience understanding payments.

  • Experience and interest in drafting targeted risk assessments for countries, legal booking entities (not client level risk assessments) and products.

  • Solid understanding of the Canadian financial sector and any experience in regulatory interactions is valuable.

  • Ability to synthesize laws, rules, and regulations into practice to provide clear and straightforward guidance.

  • Sound risk management based on advanced analytical skills, critical thinking supported by facts and metrics available and an ability to apply discernment, take decisions when required and to escalate concerns when necessary.

  • Exceeding verbal and written communication skills.

  • Be comfortable with fast paced decision making and with working with multiple international stakeholders, and cross-group collaboration.


  • Degree required: bachelor’s degree or equivalent experience.

  • 7+ years of relevant experience in BSA / AML, Sanctions, and/or Fraud compliance, including Operations-related support functions.

  • Proficiency with MS Office programs including strong Excel and PowerPoint expertise.

  • CAMS certification would be advantageous.

What Bank of America Offers

Bank of America embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Bank of America for our clients, our shareholders and our employees.

Bank of America places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity, and accountability at all levels of the organization.

Bank of America is an Equal Opportunity Employer

Bank of America encourages applications from all qualified individuals. Applicants with disabilities may notify us of any accommodations needed to support your participation in the recruitment process. We wish to thank all applicants for their interest and effort in applying. Please be aware that only candidates selected for interviews will be contacted for this position.

Learn more about this role

Full time


Manages People:

Street Address

Primary Location:
181 BAY ST, Toronto, M5J 2V8