Bank of America
Global Financial Crimes Investigations Specialist
Bank of America, Phoenix, Arizona, United States, 85003
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, including our commitment to an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and making 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 a flexible approach that aligns with 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 supporting the execution of substantive money laundering, economic sanctions and fraud compliance and operational risk practices. Key responsibilities include assisting Global Financial Crimes executives and managers with activities that support the identification, escalation and timely mitigation of compliance and operational risks in alignment with the Compliance and Operational Risk Management (CORM) Program, the Financial Crimes and Global Compliance – Enterprise Policies, and the Enterprise Fraud Risk Management Standards.
Responsibilities
Supports 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 regulatory requirements and operational risks are appropriately addressed.
Assists in the production of independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders.
Assists in monitoring changes in regulations applicable to Global Financial Crimes, advising business leaders, directing appropriate areas to implement or amend policies, standards, procedures and/or processes, and challenging the implementation plan as needed.
Contributes to risk coverage plans, executes independent risk monitoring, testing, and risk assessments.
Supports with escalating financial crimes‑related compliance and operational risks and issues to appropriate governance routines, management/board‑level committees.
Assists in identifying, aggregating, reporting, and escalating the remediation and thematic analysis of FLU/CF‑owned issues and control enhancements related to financial crimes.
Assists in reviewing internal and external operational loss events, developing remediation plans to strengthen controls, and providing oversight to ensure they are addressed appropriately.
Skills
Critical Thinking
Monitoring, Surveillance, and Testing
Regulatory Compliance
Risk Management
Issue Management
Policies, Procedures, and Guidelines Management
Written Communications
Coaching
Reporting
Talent Development
Required Qualifications
Minimum 5 years of overall experience in risk management, financial crimes, or a related risk function.
Minimum 2 years of experience in AML investigations, as an investigator, senior investigator, or investigations specialist‑type role.
Bachelor’s degree required (or equivalent experience).
Desired Qualifications
Experience with institutional retail brokerage.
QC/QA background.
Senior investigations experience.
Strong written communication skills.
Critical thinking skills; ability to think outside the box.
Experience escalating “out‑of‑pattern” or “unique risk pattern” issues.
Experience in financial services and/or related government entities.
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 (IL 4540), US – NJ – Pennington – 1600 American Blvd – Hopewell Bldg 6 (NJ 2600). Pay and benefits information: Pay range $68,500.00 – $115,000.00 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.
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This job is responsible for supporting the execution of substantive money laundering, economic sanctions and fraud compliance and operational risk practices. Key responsibilities include assisting Global Financial Crimes executives and managers with activities that support the identification, escalation and timely mitigation of compliance and operational risks in alignment with the Compliance and Operational Risk Management (CORM) Program, the Financial Crimes and Global Compliance – Enterprise Policies, and the Enterprise Fraud Risk Management Standards.
Responsibilities
Supports 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 regulatory requirements and operational risks are appropriately addressed.
Assists in the production of independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders.
Assists in monitoring changes in regulations applicable to Global Financial Crimes, advising business leaders, directing appropriate areas to implement or amend policies, standards, procedures and/or processes, and challenging the implementation plan as needed.
Contributes to risk coverage plans, executes independent risk monitoring, testing, and risk assessments.
Supports with escalating financial crimes‑related compliance and operational risks and issues to appropriate governance routines, management/board‑level committees.
Assists in identifying, aggregating, reporting, and escalating the remediation and thematic analysis of FLU/CF‑owned issues and control enhancements related to financial crimes.
Assists in reviewing internal and external operational loss events, developing remediation plans to strengthen controls, and providing oversight to ensure they are addressed appropriately.
Skills
Critical Thinking
Monitoring, Surveillance, and Testing
Regulatory Compliance
Risk Management
Issue Management
Policies, Procedures, and Guidelines Management
Written Communications
Coaching
Reporting
Talent Development
Required Qualifications
Minimum 5 years of overall experience in risk management, financial crimes, or a related risk function.
Minimum 2 years of experience in AML investigations, as an investigator, senior investigator, or investigations specialist‑type role.
Bachelor’s degree required (or equivalent experience).
Desired Qualifications
Experience with institutional retail brokerage.
QC/QA background.
Senior investigations experience.
Strong written communication skills.
Critical thinking skills; ability to think outside the box.
Experience escalating “out‑of‑pattern” or “unique risk pattern” issues.
Experience in financial services and/or related government entities.
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 (IL 4540), US – NJ – Pennington – 1600 American Blvd – Hopewell Bldg 6 (NJ 2600). Pay and benefits information: Pay range $68,500.00 – $115,000.00 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.
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