Global AML Operations: Sr Business Control Specialist – Life Cycle Management
Bank of America
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Job summary
Bank of America is seeking an experienced professional to drive internal control discipline and operational excellence within a Line of Business or Enterprise Control Function. The role provides analytical and administrative support for processes and tools to ensure adherence to enterprise-wide standards and reports issues and control improvements for remediation.
The Life Cycle Management Team within Global AML Operations focuses on client screening, ongoing monitoring and enhanced due
Qualifications
- Experience interacting with AML/KYC, compliance, risk partners, and senior management.
- Bachelor’s degree or equivalent experience.
- Detail oriented with ability to analyze and consolidate complex KYC and screening information.
- Ability to work well under pressure, adapt to unexpected events, prioritize and multi-task in a fast pace deadline driven environment.
Responsibilities
- Review client and party screening for determination of adherence to Laws, Rules, and Regulations
- Manage complex client types and collection of enhanced due diligence
- Complete analysis and/or reviews of clients who fall under the purview of Global AML Operations
- Support Audit, Exam and/or Testing processes, ensure proper governance and protocol is followed; assist with preliminary research and response tracking
- Provide solutions to help with implementation of process improvements or remediation plans to drive efficiencies and demonstrate control sustainability
- Coordinate and partner across other support teams and stakeholders to ensure end-to-end process engagement and timely resolution of monitoring cases
- Proactive in risk identification and mitigation through activity monitoring processes
Skills
Education
Tools
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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
This job is responsible for driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation.
- Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
- Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation
- Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
- Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
- Performs QA activities including executing on controls, managing cases, and reporting results
- Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success
- Supports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting
- Controls Management
- Issue Management
- Monitoring, Surveillance, and Testing
- Quality Assurance
- Risk Management
- Analytical Thinking
- Attention to Detail
- Critical Thinking
- Problem Solving
- Written Communications
- Decision Making
- Innovative Thinking
- Prioritization
- Recording/Organizing Information
- Research
The Global AML Operations (GAO) organization is a central control function which governs, facilitates, and oversees the end-to-end AML program across all GB, GM businesses and jurisdictions globally and manage AML risks by implementing and executing processes and controls to effectively manage AML and economic sanctions risks. Life Cycle Management Group is part of AML Operations. The Life Cycle Management Group supports Global Banking (GB), Global Markets (GM), and Consumer Businesses detecting high risk within business through ongoing monitoring and due diligence. This is managed through 4 Centers of Excellence (COEs) - AML Screening, Client Activity Monitoring, Enhanced Client Due Diligence (ECDD) and Economic Sanctions.
GAO provides enterprise-wide governance and oversight of the AML framework across Consumer, Merrill Lynch, and Consumer Investment businesses. As a critical component of AML Operations, the Life Cycle Management Team is dedicated to protecting the organization from financial crime risks by conducting client screening, ongoing monitoring, and enhanced due diligence activities throughout the client lifecycle, ensuring regulatory compliance and effective risk management.
- Review client and party screening for determination of adherence to Laws, Rules, and Regulations
- Manage complex client types and collection of enhanced due diligence
- Complete analysis and/or reviews of clients who fall under the purview of Global AML Operations
- Support Audit, Exam and/or Testing processes, ensure proper governance and protocol is followed; assist with preliminary research and response tracking
- Provide solutions to help with implementation of process improvements or remediation plans to drive efficiencies and demonstrate control sustainability
- Coordinate and partner across other support teams and stakeholders to ensure end-to-end process engagement and timely resolution of monitoring cases
- Proactive in risk identification and mitigation through activity monitoring processes
- Experience interacting with AML/KYC, compliance, risk partners, and senior management
- Bachelor’s degree in related field or equivalent experience
- Detail oriented with ability to analyze and consolidate complex KYC and screening information. Understanding of evolving Laws, Rules and Regulations for AML is core and applying this to day-to-day-engagement with both operations and bankers is key to success
- Ability to work well under pressure, adapt to unexpected events, prioritize and multi-task in a fast pace deadline driven environment
- undefined
- Research Analysis
- Strong written and verbal communication skills
- Proficient in Microsoft Office applications, including Excel, Word, and SharePoint
- AML or compliance-based knowledge is an advantage for this role
- Enterprise Financial Crimes Standard, Global AML program, BSA and USA Patriot Act
- Working knowledge of laws, rules, and regulations and ability to identify and elevate risk
- ACAMS accreditation
1st shift (United States of America)
40
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