GFC – Financial Intelligence Unit – Detection, Transaction Monitoring

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

This role is responsible for defining the vision and roadmap for a product or technology solution, defining and prioritizing deliverables in the product book of work, and articulating this to both business stakeholders and technology development teams. The Sr. Product Owner/Sr. Business Analyst is experienced in the role of a Product Owner, expert of the product, and have a deep understanding of the business and/or technology domain, while also having advance quantitative/analytic skills to influence the Financial Crimes program strategic transaction monitoring and data management direction.

Responsibilities:

Model and scenario management, performing conceptual soundness, coverage/control management, and ongoing model maintenance for non-US models and select models with global impact.

Managing, supporting, and executing our non-US transaction monitoring efforts. Manage model enhancements as a result of regulatory remediation and risk/coverage/conceptual soundness assessments.

Driving the delivery of technology initiatives for Financial Crimes production applications and tools by defining and prioritizing deliverables in the product book of work and articulating this to both business stakeholders and technology development teams. Creating and managing Business Requirement Documents (BRDs), developing epics and stories, and managing the agile delivery efforts and documentation with our technology partners.

Skills:

• Understanding of AML detection strategies, scenarios, models and case management systems. Understanding of the Model Risk Management governance

• Understanding of financial crime risks for capital markets, financial institution clients and corporates across multiple jurisdictions.

• Strong Data Analytical Skills including Data Infrastructure, Development, Implementation Experience; strong understanding of data environments

• Experience navigating across diverse teams, functions, business units and lines of defense across multiple jurisdictions.
  Experience with data analysis, visualization and interpretation for messaging of changes in the Transaction Monitoring activities.

• Ability to clearly write technical business requirements documents and skills with the Agile methodology and using JIRA.

• Strong multitasking abilities and time management skills.

• CAMS certification (preferred)

Required and Desired Candidate Qualifications:

• Agile Delivery Experience as a Product Owner - at least 3-5 years -- ability to clearly write technical business requirements documents and skills with the Agile methodology and using JIRA.  

• Strong experience and understanding of Transaction Monitoring/CDD Models and Systems, strong acumen on AML risks and banking impacts 

• Experience is large scale transformation and modernization efforts at Enterprise level.  

• Process Engineering and Design 

• Experience in automating manual processes and good understanding of technologies that are designed for specific AML use cases.

• Minimum of seven years of relevant experience

• Knowledge of anti-money laundering (AML) and related AML legislation

Desired Qualifications:
Bachelor’s Degree in related field

• Experience in financial services and/or a related government entity

• Certified Anti-Money Laundering Specialist (CAMS)

Skills:

• Critical Thinking

• Monitoring, Surveillance, and Testing

• Regulatory Compliance

• Risk Management

• Coaching

• Issue Management

• Policies, Procedures, and Guidelines Management

• Strategy Planning and Development

• Written Communications

• External Resource Management

• Reporting

• Talent Development

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.

Responsibilities:

• 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

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

• 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

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.

• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.

• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.

• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.

• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.

• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.

• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.

• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Shift:

Hours Per Week: