GFC Business Controls Manager

Bank of America; Charlotte (NC); On-site; USD 103,000 - 166,000; Full time

Job summary

An established industry player is seeking a GFC Business Controls Manager to lead compliance and operational risk initiatives. In this pivotal role, you'll oversee the GFC Risk Program, ensuring adherence to regulatory standards while fostering a culture of proactive risk management. You'll collaborate with various teams to enhance internal controls and drive effective governance. This position offers an exciting opportunity to make a significant impact in the financial sector, with a focus on developing solutions to mitigate risks and improve operational excellence. Join a forward-thinking organization dedicated to creating a diverse and inclusive workplace where your contributions matter.

Benefits

Industry-leading benefits

Paid time off

Flexible work options

Discretionary incentive eligibility

Qualifications

• Minimum of 7 years in financial crimes or related field.
• Knowledge of anti-money laundering (AML) legislation.
• Ability to manage multiple tasks and stakeholders.

Responsibilities

• Oversee GFC Risk Program and compliance with regulatory standards.
• Develop reports to measure effectiveness of GFC Program.
• Monitor changes in regulations and advise business leaders.

Skills

Regulatory Compliance

Monitoring, Surveillance, and Testing

Critical Thinking

Risk Management

Issue Management

Policies, Procedures, and Guidelines Management

Strategy Planning and Development

Coaching

Written Communications

Reporting

External Resource Management

Talent Development

Education

Bachelor’s degree or equivalent work experience

Professional certifications (e.g., CAMS, CFE)

Job description

GFC Business Controls Manager page is loaded

GFC Business Controls Manager

Apply locations Charlotte Jacksonville Chicago time type Full time posted on Posted 2 Days Ago time left to apply End Date: May 19, 2025 (7 days left to apply) job requisition id 25018699

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.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

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!

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 (GFC) Business Controls Manager is responsible for leading and executing on internal control discipline and operational excellence in the GFC organization. Key responsibilities include overseeing and managing the GFC Risk Program, which includes oversight and execution of the Global Compliance and Operational Risk (GCOR) program, policy and procedures, audit and regulator exams, quality and timely issues remediation, process and control environment, monitoring and testing, governance, third parties, and overall operations of the GFC organization.

Responsibilities:

• Provide business control expertise for the Global Financial Crimes organization with a focus on strong and proactive risk management

• Overseeing the implementation and execution of GFC risk management processes, ensuring compliance with program requirements, regulatory standards, and fostering a culture of accountability and proactive risk management across the organization

• Assist in the preparation, coordination and execution of regulatory examinations and audits and assist as necessary with responses related to team responsibilities

• Partner effectively with GFC, GCOR and other Enterprise partners to ensure alignment of expectations and execution

• Provide oversight and governance on the GFC process and control environment, ensuring processes are documented accurately and in alignment with the Enterprise Process Management Policy and Standards

• Escalate risks timely and appropriately. Develop solutions and deliver mitigating actions in support of risk reduction efforts

• Develop and maintain reports and routines to measure the effectiveness of the GFC Program and control environment

• Lead execution strategies and efforts to address regulatory feedback

• 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 7 years of experience in financial crimes, financial services industry or related field, e.g., Business, Compliance and Risk Management, and/or Policy Management.

• Knowledge of anti-money laundering (AML) and related AML legislation

• Bachelor’s degree or equivalent work experience; professional certifications (e.g., CAMS, CFE) preferred.

• Able to partner effectively within the team and across the organization to deliver needed results

• Ability to manage multiple tasks and stakeholders at once, prioritize workflow and deliver results under pressure and time constraints

• Strong organizational skills with a keen ability to prioritize daily tasks with project work as well as ad hoc requests

• Proven verbal and written communication and presentation skills, including the ability to effectively convey complex information to stakeholders

• Strong analytical skills

• Ability to work under pressure, calmly within tight deadlines and escalate appropriately

• Able to develop and maintain good working relationships

• Self-starter, motivated and reliable; ability to work well and seamlessly within a team without a continuous high level of guidance

• Experience/knowledge of Global Compliance and Operational Risk and/or Global Financial Crime risk management programs

Desired Qualifications:

• Bachelor’s Degree in related field

• Experience in financial services and/or a related government entity

• Certified Anti-Money Laundering Specialist (CAMS)

Skills:

• Regulatory Compliance

• Monitoring, Surveillance, and Testing

• Critical Thinking

• Risk Management

• Issue Management

• Policies, Procedures, and Guidelines Management

• Strategy Planning and Development

• Coaching

• Written Communications

• Reporting

• External Resource Management

• Talent Development

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 (IL4540)Pay and benefits informationPay range$103,000.00 - $165,300.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.

Similar Jobs (12)

GFC Metric Reporting Manager

locations 3 Locations time type Full time posted on Posted 30+ Days Ago

Compliance and Operational Risk Manager

locations 4 Locations time type Full time posted on Posted 30+ Days Ago

Global Financial Crimes Manager - Investigations Risk

locations 5 Locations time type Full time posted on Posted 30+ Days Ago

Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:
1.Determine the job or types of jobs you want to do and research their responsibilities and qualifications.
2.Think about why you can do the job and make a list of your skills that are relative to the job.
3.Identify experiences or accomplishments that show your proficiency in the skills required for the job.
4.Summarize your abilities, accomplishments and skills into a brief, concise document.

Considerations when writing a resume
•Do be brief. Resumes should be 1-2 pages in length.
•Do be upbeat and active in your wording.
•Do emphasize what you have done clearly and concretely.
•Do be neat and well organized.
•Do have others proofread and critique your resume. Spell check. Make it error free.
•Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible.
•Don't be dishonest, always tell the truth about yourself in the most flattering light.
•Don't include salary history or requirements.
•Don't include references.
•Don't include accomplishments that do not support your professional goals.
• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)
•Don't use italics, underlining, shadows or other fancy treatments.

Seven steps to a successful interview
1.Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?
2.Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?
3.Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.
4.Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down.
5.Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks.
6.Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.
7.Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage.