Global Financial Crimes Manager - Metrics & Model Ownership

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 an 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.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

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

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

Specific Responsibilities to Role:

The Global Financial Crimes (“GFC”) Process Manager under supervision, assists Global Financial Crimes executives and managers to identify, escalate, report, and mitigate compliance and operational risks that align to the Compliance and Operational Risk Management (“CORM”) Program and the Financial Crimes and Global Compliance Enterprise Policies ("GC Policy”).
Responsibilities include:

• Create and maintain an inventory of processes in the Single Process Inventory for the Financial Intelligence Unit's automated detection team.

• Design and monitor the inventory of Global Financial Crimes reporting dashboards, document their use and ensure appropriate access.

• Develop, monitor, maintain, and report on risk appetite and key risk indicator metrics.

• Monitor the effectiveness of risk controls performed by the front line unit and their associated control function.

• Identify, aggregate, report, and escalate all compliance and operational risks identified through day-to-day activities, including third-party risk. Recommend and implement control enhancements to mitigate control weaknesses.

• Assist with preparations for and participate in regulatory exams and audits for Financial Crimes.

• Inspect the actions taken to respond to Matters Requiring Attention (“MRAs”) and other related regulatory feedback and ensure that they are timely and adequate.

• Ensure all relevant documentation including policies and procedures accurately reflect the work being done and include the necessary guidance from regulatory agencies

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

Required Qualifications:

• Minimum of 5 years of relevant experience

• Intrinsically motivated and can achieve goals with minimal direction. Works well with teammates at all levels of the organization.

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

• Proficiency in programming languages like Python, Java, JavaScript, C++, SAS and/or SQL

• Proficiency in Microsoft Office products including advanced knowledge of Excel

• Bachelor's Degree is related field

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

• Certified Anti-Money Laundering Specialist (CAMS) or equivalent

Preferred Technical Skills:

• Risk Identification & Assessment

• Issues Management & Resolution

• Line of Business (LoB) Products, Services & Acumen

• Financial Crimes Risk Programs

• Credible Challenge

• Regulatory Knowledge

• High Risk Activities & Typologies

• Data Analysis, Interpretation & Decisioning

• Risk Control & Mitigation

• Financial Crimes Compliance Risk Principles

Shift:

Hours Per Week: