Job Description:
About Us
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!
Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
Process Overview
Currency Reporting unit is responsible for filing of Currency Transaction Report & Designation of Exempt Person along with saving Monetary Instrument logs. CRU is involved in monitoring of cash activity and perform customer due diligence to fulfil Bank Secrecy Act requirements. Currency Reporting Unit performs following functions:
• CTR Large Currency Reporting - Files Currency Transaction Report to comply with Bank Secrecy Act which requires every financial institution to report all cash transactions greater than $10,000.00 to FinCEN. This may be single or aggregated transactions that occur on the same business day for the same individual/ business. Such transactions include, but are not limited to, deposits, withdrawals, purchases of negotiable instruments, wire transfers (funded by cash), currency exchanges, loan proceeds.
• Monetary Instrument Sales – Reviews & files MIS log for all customers who does daily cash purchase of negotiable Instruments between $3,000 and $10,000.
• Exemptions - Performs KYC due diligence on commercial client to grant or revoke exemption from filing Currency Transaction Reporting as per Bank Secrecy Act. The team performs review on existing client on annual frequency along with approve/decline exemption for new client through New Request.
Job Description
• Analyst is required to research & identify the reporting status of Monetary Instrument Logs
• Update transaction information along with customer information on the LCR system as per the procedures
• Status the transaction as per procedure
Responsibilities
• Identify, research and status records captured by the system
• Request MIS Log information as necessary from banking centres
• Mark Error to Financial Centres for incomplete/missing MIS information
• Status transactions captured by the system and records input by banking center associates
• Report potential suspicious activity when it is discovered
Requirements*
Education
Commerce Graduates (preferably Hons.)/ Finance Graduates
Certifications If Any
AML related
Experience Range
1 to 6 Years (External)
Foundational skills
Desired skills
Work Timings
16:30 – 01:30
Job Location
Gurugram
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