Bank of America
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.
Key Responsibilities:
Advises and directs the development and maintenance of financial crimes transaction monitoring models, and reviews relevant scenario management for conceptual soundness to ensure that regulatory requirements and operational risks are appropriately addressed
Produces and/or oversees independent financial crimes risk management business requirements, model roadmaps and strategies
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
Required Qualifications:
Minimum 7 years experience
Demonstrated awareness of financial crime risks inherent in banking products and services
Familiarity with transaction monitoring and screening controls and understanding of how alerts and typologies manifest
Understanding of how financial crime detection models operate—ability to interpret outputs, understand model limitations, and connect model behavior to business risk
Proven ability to work independently and collaboratively across business, compliance, and operations teams to assess and mitigate risk
Strong communication and analytical skills, with the capacity to explain complex financial crime concepts clearly to non-technical stakeholders
Skills:
Critical Thinking
Monitoring, Surveillance, and Testing
Regulatory Compliance
Risk Management
Policies, Procedures, and Guidelines Management
Written Communications
Reporting
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency Details US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540), US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)
Pay range $105,000.00 - $170,000.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible. This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
Benefits This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
#J-18808-Ljbffr
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.
Key Responsibilities:
Advises and directs the development and maintenance of financial crimes transaction monitoring models, and reviews relevant scenario management for conceptual soundness to ensure that regulatory requirements and operational risks are appropriately addressed
Produces and/or oversees independent financial crimes risk management business requirements, model roadmaps and strategies
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
Required Qualifications:
Minimum 7 years experience
Demonstrated awareness of financial crime risks inherent in banking products and services
Familiarity with transaction monitoring and screening controls and understanding of how alerts and typologies manifest
Understanding of how financial crime detection models operate—ability to interpret outputs, understand model limitations, and connect model behavior to business risk
Proven ability to work independently and collaboratively across business, compliance, and operations teams to assess and mitigate risk
Strong communication and analytical skills, with the capacity to explain complex financial crime concepts clearly to non-technical stakeholders
Skills:
Critical Thinking
Monitoring, Surveillance, and Testing
Regulatory Compliance
Risk Management
Policies, Procedures, and Guidelines Management
Written Communications
Reporting
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency Details US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540), US - NY - New York - 1114 Avenue Of The Americas - Grace (NY1544)
Pay range $105,000.00 - $170,000.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible. This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
Benefits This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
#J-18808-Ljbffr