Global Financial Crimes Specialist

Bank of America Corporation; Toronto; On-site; CAD 80,000 - 110,000; Full time

Job summary

A leading financial institution is seeking a Financial Specialist in Toronto to support compliance and operational risk processes. The role involves working closely with the Money Laundering Reporting Officer and requires strong analytical skills and experience in financial crimes compliance. Join a dynamic team dedicated to making financial lives better through responsible growth.

Qualifications

• At least 5 years relevant experience in AML and Sanctions.
• Experience in risk management and client advisory.
• Ability to manage multiple compliance projects.

Responsibilities

• Support compliance and risk activities related to financial crimes.
• Conduct financial crimes risk assessments.
• Assist in regulatory exams and audits.

Skills

Analytical skills

Attention to detail

Strong written and verbal communications

Ability to handle multiple projects

Decision making

Education

Bachelor's Degree or equivalent work experience

Tools

MS Office (Excel)

Research tools (e.g. LexisNexis, CLEAR)

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description

The role will support execution of compliance and operational risk processes used to identify and mitigate risks associated with money laundering, terrorist financing, economic sanctions and fraud and provide risk management and client advisory support within Canada. The incumbent will partner with the Money Laundering Reporting Officer to support regulatory and corporate audits, as well as work with front line business, operations and other financial crimes teams across the region and globally to assess and monitor risks and controls, identify trends, analyse business processes and review quality assurance trends.

Responsibilities

Support the Canada MLRO in performing compliance and risk activities, including :

• Develop monitoring and test coverage plans
• Performing monitoring and testing activities of Front Line Unit (FLU) and control function (CF) -owned processes related to Customer Due Diligence activities, Non-Financial Regulatory Reporting, or other activities as required against Canadian AML / CFT laws, rules and regulations
• Assisting with the review of relevant policies to ensure they reflect Canadian AML / CFT regulatory requirements for Financial Crimes
• Conducting financial crimes risk assessments
• Acting as the Canada GFC owned procedures specialist
• Executing governance and management routines, including development of metrics and analytical reports
• Identifying, aggregating, reporting and escalate financial crimes risks, issues and control enhancements
• Assisting with preparation for, and participating in, financial crimes related regulatory exams and audits
• Assisting in the development of financial crimes training
• Assisting in reviewing potential suspicious activity and sanctions alerts
• Escalating financial crimes concerns to the Global Financial Crimes Manager or Executive

Skills

• Strong understanding of monitoring, testing and / or quality assurance processes
• Extensive knowledge of AML typologies
• Ability to read and interpret regulatory guidance
• Strong written and verbal communications
• Strong analytical, organizational and decision making skills
• Strong personal drive, attention to detail, must be a self-motivated and critical thinker
• Ability to handle multiple projects in a dynamic environment Proficiency with MS Office programs - including strong Excel expertise
• Mature change management and transformation abilities
• Ability to quickly learn proprietary technology applications
• Excellent research abilities, including exposure to research tools (e.g. LexisNexis, CLEAR)
• Sound judgment

Qualifications

• At least 5 years relevant experience in AML and Sanctions, advisory background or Financial Crimes Compliance related to Canada, gained from working in the financial industry
• Business Stakeholder Management : experience in risk management and client advisory
• Compliance and Operational Risk : experience identifying, mitigating and escalating matters of AML concerns to FLUs and senior management
• Possesses decision making skills related to Financial Crimes Compliance Risk Management- and are able to stand up to the FLUs and take decisions
• Degree Required : Bachelor's Degree or equivalent work experience
• Preferred candidates with understanding of global banking and markets business lines
• Preferred candidates with subject matter expertise in financial crimes risks related to Canada
• Ability to handle multiple compliance projects in a dynamic environment and regional team setting

What Bank of America Offers

Bank of America embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Bank of America for our clients, our shareholders and our employees.

Bank of America places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity and accountability at all levels of the organization.

Bank of America is an Equal Opportunity Employer.

Bank of America encourages applications from all qualified individuals. Applicants with disabilities may notify us of any accommodations needed to support your participation in the recruitment process. We wish to thank all applicants for their interest and effort in applying. Please be aware that only candidates selected for interviews will be contacted for this position.

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