Data Consultant – Sanctions

Bank of America; Greater London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A leading financial institution in Greater London seeks a Data Consultant – Sanctions to enhance compliance and efficiency in its Economic Sanctions Screening processes. The successful candidate will have strong Data Analytics experience, skills in scripting languages like Python and Java, as well as an analytical mindset. Responsibilities include managing Sanctions projects, analyzing data, and collaborating with technology teams to improve operations. This role offers a competitive benefits package and a dynamic workplace culture.

Benefits

Private healthcare for you and your family

Competitive pension plan

20 days of backup childcare

Flexible benefits options

Access to emotional wellbeing helpline

Opportunity to volunteer in the community

Qualifications

• Demonstrated experience in Data Analytics and interpretation of large volumes of data.
• Scripting experience with languages like Python, Java, or VB.
• Awareness of AI / Machine learning concepts and implementation strategies.

Responsibilities

• Create/update business rules to minimize false-positive Sanctions alerts.
• Manage ongoing initiatives to understand Sanctions project requirements.
• Analyse alerts daily to reduce false positives using trending techniques.
• Assist in onboarding new applications into the Sanctions screening platform.
• Work with technology teams for requirements/testing and process automation.
• Ensure data is accurate for data analysis through testing procedures.

Skills

Data Analytics

Python

Java

VB

Intermediate SQL

Analytical mindset

Education

Bachelor's in computer science, Data Management, Statistics

Tools

TOAD

Power BI

Tableau

Job description

Job Description

Job Title: Data Consultant – Sanctions

Corporate Title: Up to Vice President

Location: Bromley

Company Overview

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 a diverse and 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. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Location Overview

Join our bustling Bromley office, situated in one of London’s greenest boroughs. Here you’ll find plentiful and easy commuting routes, with central London just 15 minutes away by train.

Role Description

The Centre of Excellence (CoE) for Economic Sanctions Screening is part of Global Payment Operations (GPO). GPO is the central hub for Bank of America in playing a monumental and mission critical role in establishing, servicing, supporting and monitoring two of the most widely used electronic payment processing vehicles – Wire and ACH – in the financial services arena worldwide. Globally, we process more than 500K wire payments valued at > $1.38T processed daily, International ACH Average of 505,000 payments valued at >$6.5B processed daily and US ACH Average of 20M ACH payments valued at $68B processed daily. Additionally, GPO is also accountable for the CoE that reviews all of Bank of America’s customers and transactions to ensure compliance with Bank of America’s Economic Sanctions Program. CoE serves all eight lines of business across Bank of America, delivering global, regional, and local capabilities through secure, fast and reliable technology, and people with the knowledge and experience to deliver timely and accurate review of all sanctions alerts across all products of Bank of America. We are responsible for scanning on average 6M sanction transactions and reviewing on average 22K sanction alerts daily.

Responsibilities

• Create / update business rules to minimize the false-positive Sanctions alerts to improve efficiency and effectives of the CoE’s alert review process.
• Manage the multiple on-going initiatives by attending calls from various projects, understand the Sanctions needs from the projects, provide requirements to the projects and track the status of these projects.
• Analyse alerts on a daily basis to chalk out strategies to reduce the false positives, using different pattern matching and trending techniques.
• Assist in on-boarding new applications / Clients into the Sanctions screening platform requiring detailed discussions with various lines of businesses in understanding the nature and type of data received from and assist in data mapping into standard formats acceptable for Sanctions screening.
• Ability to query & analyze the data required for ad hoc requirements on the fly and generate reports for the team to use.
• Work with technology teams for requirements / testing and implementing changes to improve / automate CoE processes.
• Ensures data is accurate, complete, and fit for performing data analyses through various testing procedures and data controls which help to identify business insights fit for purpose for a particular product set.
• Develops and executes on Enterprise Data Management policies and standards, works across teams to ensure adherence, serves as a key point of contact for all topics related to data compliance, and manages operational elements of the (Enterprise Data Strategy Governance and Operations (EDSGO) relationship.
• Manages data related incidents and identifies, communicates, and resolves or escalates issues as needed. Data inquiries include questions related to data issues, availability of data, and potential sourcing alternatives to inform.
• Develops, manages, and executes on controls, ensuring tracking, monitoring, and resolution of any control breaches with data platform.
• Partners with Business and Technology functions to drive the development of business and functional requirements documents and ensures strategic upstream resolution for data related incidents.

What we are looking for

• You will have demonstrated experience in Data Analytics and interpretation of large volumes of data.
• You will have scripting experience with languages like Python, Java, VB.
• You will have Intermediate knowledge in SQL and using tools like TOAD.
• You will have awareness of AI / Machine learning concepts and ability to implement such strategies.
• You will have an analytical and detail-oriented mindset.

Skills that will help (optional)

• Advanced knowledge in SQL and using tools like TOAD would be advantageous.
• Knowledge of Economic Sanctions programs would be advantageous.
• Experience in a Global Banking & Markets business would be advantageous.
• Experience with Sanctions screening applications like Fircosoft would be advantageous.
• Data transformation / formatting experience would be advantageous.
• Knowledge of Microsoft products (Excel, Work, Outlook, PowerPoint, Visio) & Power BI / Tableau would be an advantage.
• A bachelor’s degree in computer science, Data Management, Statistics or related fields would be advantageous.

Benefits of working at Bank of America

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner.
• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons.
• 20 days of back-up childcare including virtual tutoring and 20 days of back-up adult care per annum.
• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
• Use of a flex fund to use towards benefits.
• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution.
• Opportunity to access our Arts & Culture corporate membership programme and receive discounted entry to some of the UK and Ireland’s most iconic cultural institutions.
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area.

Bank of America

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well. We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience. We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.