Assistant Vice President, GBAM AML Analyst
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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
The GB & GM Anti-Money Laundering (AML) Remediation team performs AML Know-Your-Client/Client Due Diligence (KYC/CDD) for Global Banking and Markets clients of Bank of America Merrill Lynch. This team is part of the Refresh organization which covers regulatory uplift and remediation of AML KYC/CDD requirements of bank clients. Additionally, the team also covers the refresh quality governance aspects in the review of QA and Compliance test results and supports regulatory audit exams requests and the subsequent remediation. The team is expected to work with APAC, EMEA, US & Canada jurisdictional rules which includes the review of documents for accuracy, perform screening, obtain approvals from Compliance and Business.
We are looking for an AML Refresh Analyst to join the team. The ideal candidate should possess a very high attention to detail and demonstrable accuracy of work product with an interest in understanding AML KYC/CDD policies and requirements, enjoy performing investigations and will play an important role to safeguard interest of the bank. Experience in operational risk and compliance background will be a plus. Additionally, there will be endless opportunities to draw upon the knowledge of experienced individuals from a diverse range of backgrounds, to enhance your skillset and your ability to deliver value in this role.
Responsibilities:
- Support various remediation work streams from Refresh BAU, AML Regulatory uplifts and audit exams.
- Perform document gap analysis of Clients, review available documentation, evaluate publicly available information or through vendors for multiple global jurisdictions to assess Client outreach efforts and engage FLU for their partnership.
- Independently liaise with sales/client teams to obtain and validate correct documentation.
- Process KYC/AML by enriching KYC requests in the system and perform enhanced due diligence as required.
- Support business metrics reporting on remediation workstreams.
- Review and analyze monthly published QA results of failed CDD Requirements to understand root causes for feedback to Refresh Teams.
- Share the analysis results with Proficiency Coach to help drive the materials and themes in the preparations of refresher training with Global teams of Refresh, ILQA and COS.
- Review preliminary Compliance test results, perform documents research and draft responses for calibration discussions with Compliance.
- Support Regulatory exams and internal audit on CDD requests in the investigations of completed refreshes and prepare Client packages for audit submission timely.
- Liaise with internal departments to support and resolve KYC issues.
- Identify opportunities to simplify and improve AML/ KYC CDD experience keeping end client in sight.
- Involve in ad hoc projects for new processes or industry initiatives.
- Interact and maintain quality engagement with stakeholders regionally and globally.
- Point of contact for Business & Management when matters require attention
- Late evening calls can be expected.
Required Skills:
- Experience in similar role (preferred)
- University degree in related fields of business administration, compliance or equivalent
- Certification in ACAMS is an advantage.
- Control focused mindset and good understanding of regulatory and reputational risks - (knowledge of APAC AML/KYC requirements a plus)
- A strong team player to collaborate and partner with peers and stakeholders.
- Strong communications skills to liaise with partners and stakeholders as well as able to present to an audience.
- Ability to work under pressure in a flexible team environment and manage multiple workstreams with tight timelines.
- Attention to details and good organizational skills.
- Self-motivated in anticipating next steps, problem solving and follow-up.
- Proficient in Microsoft excel, power point for management reporting.