Global Financial Crimes Manager - Public Policy

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 executing substantive money laundering, economic sanctions and fraud compliance and operational risk practices. Key responsibilities include working directly or through compliance officers for the Front Line Units (FLUs) and Control Functions (CFs) to complete compliance, policy, operational/fraud risk management requirements.

The Global Financial Crimes Manager – Strategic Initiatives, Liaison, and Emerging Risk position is an individual contributor role that will help lead the work of the Strategic Initiatives, Liaison, and Emerging Risks team. As part of the Anti-Money Laundering Act of 2020 (AML Act), the U.S. government has issued AML priorities. The AML Act requires that banks incorporate these priorities into their program and that supervisors examine banks based on how they have done so. Through its engagement with law enforcement, supervisory agencies, and industry counterparts, the Manager will play a critical role in helping the Bank to understand the key threats in the priority areas and emerging risks, proactively sharing intelligence both internally and externally, engaging in key public policy education and advocacy as it relates to combatting financial crime and terrorist financing, and representing Bank of America in industry-related public/private partnerships.

The role will also entail:

• Following policy trends and leading effective engagement on key public policy issues related to combatting financial crime and terrorist financing.
• Engaging with industry associations or other networking groups related to combatting financial crime and terrorist financing and participating in public-private sector partnerships.
• Researching and drafting background papers and policy memos outlining Bank of America’s interests, exposure, and position on key public policy issues related to combatting financial crime and terrorist financing.
• Proactively engaging with law enforcement to understand the latest trends and typologies in priority and other areas, escalating significant suspicious activity identified by the Bank, and obtaining feedback on the Bank's work.
• Conducting priority threat assessments and sharing the results of this work with relevant groups across the Bank and beyond, as appropriate.
• Analyzing internal referrals and Suspicious Activity Reports (SARs) to identify trends and potential risks for relevant groups across the Bank, as well as public sector counterparts and industry groups, as appropriate.
• Communicating effectively, both verbally and in writing, and producing executive-level presentations/material.

Responsibilities:

• Participates in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers to identify and mitigate emerging risks.
• Develops and communicates positions on prominent public policy issues in the financial crimes and sanctions area, and coordinates with colleagues within the Bank and across industry on these public policy positions. 
• Advises and directs 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.
• Produces and/or oversees independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders.
• Monitors the 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.
• Escalates financial crimes-related compliance and operational risks and issues to appropriate governance routines, management/board level committees.
• Identifies, aggregates, reports, escalates, inspects, and challenges the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes.
• Reviews and challenges internal and external operational loss events, including the development of remediation plans to strengthen controls and providing oversight to ensure they are addressed appropriately.

Skills:

• Critical Thinking
• Excellent communication skills, both in writing and orally
• Regulatory Compliance
• Risk Management
• Issue Management
• Strategy Planning and Development

Required Qualifications:

• Minimum 7 years of direct financial crimes experience
• Direct experience in government relations and/or in dealing with public policy issues related to financial crime, sanctions, or anti-money laundering initiatives
• Knowledge of anti-money laundering (AML) and related AML legislation
• Experience interacting effectively with government officials, law enforcement counterparts, business leaders, non-governmental organizations, and stakeholders’ groups
• Experience using Microsoft Office programs/Excel
• Experience analyzing data and effectively communicating findings

Desired Qualifications:

• Bachelor’s Degree in related field
• Experience in Financial Services and/or related government entity
• ACAMS certification or equivalent
• Intellectually curious
• Team-oriented

Shift:

Hours Per Week: