Global Financial Crimes Manager - Emerging Risks and 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. 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!

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 - Emerging Risks and Public Policy position is an individual contributor role that will help lead the work of the Emerging Risks and Public Policy 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 emerging illicit finance trends as well as key threats in the priority areas, proactively sharing intelligence both internally and externally, and ultimately helping the Bank to demonstrate that it has been effective in providing highly useful information to law enforcement agencies.  Additionally, the Emerging Risk and Public Policy Manager may serve as an escalation point for other groups in the Bank for non-routine law enforcement related requests, support or participate in the Bank’s work in various public private partnerships, and develop and execute training for other groups across the Bank. 

Responsibilities:

• Supporting proactive engagement 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. 

• Working closely with the GFC financial crimes investigations teams to identify investigations within the AML priorities as well as emerging financial crimes risks, particularly in the area of digital assets.

• Ensuring work that is a product of law enforcement engagement is fed into emerging risk reports and/or priority threat assessments. 

• Analyzing internal referrals and Suspicious Activity Reports (SARs) potential risks for relevant groups across the Bank, as well as public sector counterparts and industry groups, as appropriate. 

• Conducting emerging risk reports and/or priority threat assessments, including as related to digital assets, and sharing the results of this work with relevant groups across the Bank and beyond, as appropriate. 

• Developing and executing training related to emerging risks and priority threats. 

• Engaging with industry associations or other networking groups related to combatting financial crime and terrorist financing and participating in public-private sector partnerships. 

• 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

• Conducting priority emerging risk reports and/or priority threat assessments, including as related to digital assets. 

Required Qualifications:

• Minimum of 7 years of financial crimes direct experience

• Have deep subject-matter expertise in financial crimes trends, including AML, Fraud, and economic sanctions

• Skilled in use of Microsoft Office programs, including Excel

• Ability to analyze data and effectively communicate findings

• Effective verbal and written communication

• Experience producing executive-level presentations/material

Desired Qualifications:

• Bachelor’s Degree in related field

• Expertise and prior professional work related to digital assets and illicit finance

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

• Certified Anti-Money Laundering Specialist (CAMS)

• Experience working in law enforcement or engaging with law enforcement and/or the ACAMS certification

• Team-oriented

• Intellectually curious

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

Preferred Technical Skills:

• Credible Challenge

• Data Analysis, Interpretation & Decisioning

• Issues Management & Resolution

• AML Regulatory Knowledge

• Case Investigations & Resolution

• Customer Due Diligence

• Financial Crimes Risk Principles

• High Risk Activities & Typologies

• Threat Assessment

• Political Awareness

Shift:

Hours Per Week: