Global Financial Crimes Manager - AML/Sanctions Risk Assessment

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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 AML/Sanctions Risk Assessment Manager is responsible for supporting compliance with substantive Anti-Money Laundering (AML) and Economic Sanctions compliance and operational risk practices. Key responsibilities include developing, implementing, and maintaining a comprehensive AML and Economic Sanctions risk assessment program, ensuring proactive identification, mitigation, and communication of potential risks and the quality of risk management efforts.

Responsibilities:

• Contribute to the design, implementation and maintenance of a robust and comprehensive AML and economic sanctions risk assessment methodology aligned with industry best practices, regulatory expectations, and the company's risk appetite. This includes conducting regular risk assessments, performing data analysis, analyzing results, identifying potential vulnerabilities, and assisting, when appropriate, in the development of mitigating strategies.
• Coordinate with internal stakeholders to enhance existing financial crimes risk assessment work products such as questionnaires/surveys, reports, and presentations
• Analyze risk and control data to draft comprehensive reports detailing risks of financial crimes activities
• Identify and enhance existing procedures and processes to ensure compliance with Bank of America policy, applicable financial crimes laws and regulations, regulatory guidance and compliance, and industry best practices
• Oversee process design and execution including designing and maintaining detailed project plans and process maps.
• Manage, coordinate, track regulatory examinations, internal audit and control testing to ensure reviews are conducted efficiently.
• Proactively monitor and analyze changes in AML/Economic Sanctions requirements, assess impact on the organization, and implement necessary changes to ensure ongoing compliance. This includes staying abreast of emerging threats and the trends in regulatory and financial crime.
• Build and maintain strong relationships with internal business units, external auditors and regulatory agencies.
• 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

Required Qualifications:

• Minimum of seven years of relevant experience
• Knowledge of anti-money laundering (AML) and related AML legislation
• Prior risk assessment experience
• Extensive knowledge and experience with Anti Money Laundering (AML)/Sanctions risk assessments or similar experience
• Ability to work in a fast-paced environment
• Ability to exercise sound judgment in the decision-making process when analyzing data to verify and validate requirements
• Must be a self-motivated worker who is comfortable and effective working with varying levels of guidance
• Excellent verbal and written communication skills
• Intermediate knowledge of Microsoft Office products (specifically Excel and Word)
• Relationship building skills

Desired Qualifications:

• Bachelor’s Degree in related field
• Experience in financial services and/or a related government entity
• Certified Anti-Money Laundering Specialist (CAMS)
• Compliance/operational risk experience

• Process/workflow design
• Strong organizational skills with the ability to prioritize multiple tasks
• Detail oriented

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:

• Risk Identification & Assessment
• Issues Management & Resolution
• Line of Business (LoB) Products, Services & Acumen
• Risk Governance & Reporting
• Enhanced Due Diligence
• Credible Challenge
• Customer Due Diligence
• Regulatory Knowledge
• Risk Monitoring & Testing
• Financial Crimes Compliance Risk Principles

Shift:

Hours Per Week: