Global Financial Crimes Manager
Charlotte, North Carolina;Jersey City, New Jersey
**Job Description:**
The Global Financial Crimes (GFC) Manager executes substantive money laundering, economic sanctions and fraud compliance and operational risk practices relevant to the manager's specific area of responsibility. The GFC Manager is accountable for the requirements of the Global Compliance and Financial Crimes Enterprise Policies, Compliance and Operational Risk Management Program (CORM Program), the Global Compliance - Enterprise Policy, the Operational Risk Management Enterprise Policy (collectively the Policies) and the Enterprise Fraud Risk Management Standard and works directly or through compliance officers for the Front Line Units (FLUs) and Control Functions (CFs) to complete those requirements.
The GFC Manager proactively engages with other Chief Compliance and Operational Risk (C&OR) officers, including horizontal coverage owners and Enterprise Areas of Coverage (EAC), to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second lines risk management activities. The GFC Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries. The GFC Manager also contributes as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team or may act as an individual contributor.
Activities this role performs include, but are not limited to:
Produces and/or oversees independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders via established governance and management routines
Participates in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers (trade associations, PACs, lobbyists, consumer groups, and media) in the EAC subject area to identify and mitigate emerging risks
Identifies regulatory training needs and provides subject matter expertise to support the development of training curriculum
Advises and directs the development and maintenance of financial crimes owned policies and standards and the review of relevant FLU/CF-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed
Monitors the changes in regulations applicable to Global Financial Crimes, including advising business leaders on those changes, 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; ensures a comprehensive regulatory inventory
Identifies, aggregates, reports, escalates, inspects and challenges the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes
Escalates financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees
Responsible for the remediation of financial crimes related C&OR owned issues and control enhancements to ensure they are addressed appropriately and timely
Participates in the development and maintenance of the global financial crimes coverage plan which defines the scope and risk-based focus of the second lines risk management activities and/or oversees execution of monitoring, testing, and risk assessments, communicate results
Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation
Additional activities may include:
Partners in the filing of all regulatory reports for the Company related to Financial Crimes
This role may have Money Laundering Reporting Officer responsibilities
The selected candidate will act as a Global Financial Crimes Subject Matter Expert (SME) for data. Responsibilities will include partnering with all members of the GFC Data team, technology teams and various data stakeholders on a wide range of GFC data related activities.
These activities would include amongst other things:
i. supporting GFC end-to-end data processes and lifecycle, the Global Risk & GFC data strategy and GFC data initiatives
ii. overseeing data related issues
iii. ensuring data policy and governance are being adhered to
iv. managing, coordinating and advocating for Enterprise Data Incident Management ("eDIM") tickets ensuring they are properly identified and escalated
v. supporting data quality and monitoring efforts
vi. oversight of data quality rule creation, modification and breach escalation
vii. performing in-depth analysis to identify potential resolution for data issues
viii. supporting data sourcing, curation, analytics and aggregation efforts
Required Skills:
5+ Years of relevant work experience in Anti-Money Laundering, Fraud and/or Economic Sanctions, particularly in customer and transactional data
Knowledge of the Companys Enterprise Data Incident Management ("eDIM") processes
Knowledge and experience of the Companys data policies and standards and basic understanding of data architecture
Ability to support strategic direction for data capture, transport, use and transmission
Demonstrated leadership to partner with managers, employees, data scientists, programmers and various technology experts
Strong written and verbal communication skills and the ability to communicate and work with all levels within the organization
Strong data analysis and data presentation
Must possess excellent time-management, problem solving, and critical thinking capabilities
Must work across a matrix organization
Identify, own and escalate data issues as needed
Must be able to engage and leverage teams and business partners to efficiently deliver business solutions
Must be able to interpret business requirements into data quality coverage
Ability to assess Enterprise Data Incident Management ("eDIM") tickets across GFC data related initiatives and document related gaps and risks
Adhere to Enterprise Data Management Standards and Policies
Desired Skills:
Knowledge of anti-money laundering (AML), Fraud and Economic Sanctions regulations
Certified Anti-Money Laundering Specialist (CAMS) certification;
Understanding of Banking products and Financial Crimes vulnerabilities applicable to these products
Bachelor's Degree
**Job Band:**
H4
**Shift:**
1st shift (United States of America)
**Hours Per Week:**
40
**Weekly Schedule:**
**Referral Bonus Amount:**
0
**Job Description:**
The Global Financial Crimes (GFC) Manager executes substantive money laundering, economic sanctions and fraud compliance and operational risk practices relevant to the manager's specific area of responsibility. The GFC Manager is accountable for the requirements of the Global Compliance and Financial Crimes Enterprise Policies, Compliance and Operational Risk Management Program (CORM Program), the Global Compliance - Enterprise Policy, the Operational Risk Management Enterprise Policy (collectively the Policies) and the Enterprise Fraud Risk Management Standard and works directly or through compliance officers for the Front Line Units (FLUs) and Control Functions (CFs) to complete those requirements.
The GFC Manager proactively engages with other Chief Compliance and Operational Risk (C&OR) officers, including horizontal coverage owners and Enterprise Areas of Coverage (EAC), to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second lines risk management activities. The GFC Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries. The GFC Manager also contributes as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team or may act as an individual contributor.
Activities this role performs include, but are not limited to:
Produces and/or oversees independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders via established governance and management routines
Participates in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers (trade associations, PACs, lobbyists, consumer groups, and media) in the EAC subject area to identify and mitigate emerging risks
Identifies regulatory training needs and provides subject matter expertise to support the development of training curriculum
Advises and directs the development and maintenance of financial crimes owned policies and standards and the review of relevant FLU/CF-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed
Monitors the changes in regulations applicable to Global Financial Crimes, including advising business leaders on those changes, 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; ensures a comprehensive regulatory inventory
Identifies, aggregates, reports, escalates, inspects and challenges the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes
Escalates financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees
Responsible for the remediation of financial crimes related C&OR owned issues and control enhancements to ensure they are addressed appropriately and timely
Participates in the development and maintenance of the global financial crimes coverage plan which defines the scope and risk-based focus of the second lines risk management activities and/or oversees execution of monitoring, testing, and risk assessments, communicate results
Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation
Additional activities may include:
Partners in the filing of all regulatory reports for the Company related to Financial Crimes
This role may have Money Laundering Reporting Officer responsibilities
The selected candidate will act as a Global Financial Crimes Subject Matter Expert (SME) for data. Responsibilities will include partnering with all members of the GFC Data team, technology teams and various data stakeholders on a wide range of GFC data related activities.
These activities would include amongst other things:
i. supporting GFC end-to-end data processes and lifecycle, the Global Risk & GFC data strategy and GFC data initiatives
ii. overseeing data related issues
iii. ensuring data policy and governance are being adhered to
iv. managing, coordinating and advocating for Enterprise Data Incident Management ("eDIM") tickets ensuring they are properly identified and escalated
v. supporting data quality and monitoring efforts
vi. oversight of data quality rule creation, modification and breach escalation
vii. performing in-depth analysis to identify potential resolution for data issues
viii. supporting data sourcing, curation, analytics and aggregation efforts
Required Skills:
5+ Years of relevant work experience in Anti-Money Laundering, Fraud and/or Economic Sanctions, particularly in customer and transactional data
Knowledge of the Companys Enterprise Data Incident Management ("eDIM") processes
Knowledge and experience of the Companys data policies and standards and basic understanding of data architecture
Ability to support strategic direction for data capture, transport, use and transmission
Demonstrated leadership to partner with managers, employees, data scientists, programmers and various technology experts
Strong written and verbal communication skills and the ability to communicate and work with all levels within the organization
Strong data analysis and data presentation
Must possess excellent time-management, problem solving, and critical thinking capabilities
Must work across a matrix organization
Identify, own and escalate data issues as needed
Must be able to engage and leverage teams and business partners to efficiently deliver business solutions
Must be able to interpret business requirements into data quality coverage
Ability to assess Enterprise Data Incident Management ("eDIM") tickets across GFC data related initiatives and document related gaps and risks
Adhere to Enterprise Data Management Standards and Policies
Desired Skills:
Knowledge of anti-money laundering (AML), Fraud and Economic Sanctions regulations
Certified Anti-Money Laundering Specialist (CAMS) certification;
Understanding of Banking products and Financial Crimes vulnerabilities applicable to these products
Bachelor's Degree
**Shift:**
1st shift (United States of America)
**Hours Per Week:**
40
Learn more about this role
Full time
JR-22064389
Band: H4
Manages People: No
Travel: No
Manager:
Talent Acquisition Contact:
Jeff Fey
Referral Bonus:
0
Jersey City pay and benefits information
**Jersey City pay range:**
$85,000 - $145,000
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, 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.
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .
To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE .
