Global Banking Lead

Bank of America; New York (NY); On-site; USD 120,000 - 160,000; Full time

Job summary

A leading financial institution seeks a GFC Lead to oversee compliance in financial crime risk management. The candidate will drive improvements in AML practices and lead teams to ensure adherence to regulations. This role demands a minimum of 7 years' experience in risk management and compliance within the financial services industry.

Qualifications

• Minimum of 7 years of experience in financial services, AML compliance or operational risk.
• Knowledge of anti-money laundering (AML) legislation is required.
• Strong experience with compliance reporting and transaction monitoring.

Responsibilities

• Lead and manage enterprise-wide financial crimes compliance practices.
• Advise on AML laws and drive operational risk improvements.
• Engage with various teams to enhance compliance monitoring and reporting.

Skills

Critical Thinking

Monitoring, Surveillance, and Testing

Regulatory Compliance

Coaching

Issue Management

Policies, Procedures, and Guidelines Management

Strategy Planning and Development

External Resource Management

Reporting

Talent Development

Education

Bachelor's Degree in related field

Job description

New York, New York; Charlotte, North Carolina

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.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

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

Job Description:

The Global Financial Crime (“GFC”) Lead contributes to the direction and drives the development of enterprise-wide money laundering, economic sanctions, and fraud compliance and operational risk practices consistent with applicable laws, rules, regulations, and regulatory guidance. The GFC Lead serves as a trusted advisor to the Compliance and Operational Risk (“C&OR”) Officers of the Front Line Units (“FLU”) and Control Functions (“CF”) for the company and to the leaders of the FLUs and CFs directly.

This role is responsible for executing the Company's Global Financial Crimes Program related to Correspondent Banking Program Management and requires a strong risk management discipline and experience with operational risk processes. This role will lead a team responsible for identifying and assessing inherent financial crimes risk and controls associated with correspondent banking, new product initiatives and program management. This role is responsible for advising the front line units (FLUs) on Bank Secrecy Act/Anti-Money Laundering laws, rules and regulations and the Global Financial Crimes Policy and Standards. This individual will be responsible for leading a team accountable for identifying, escalating and mitigating financial crimes compliance and operational risk. This individual will be responsible for evaluating and communicating the effectiveness of FLU controls and be able to drive the consistent improvement and strengthening of these controls to improve upon the Company's ability to detect and prevent unusual or suspicious activity.

The selected candidate will be or will have:

• A self-motivated worker who is comfortable and effective providing guidance to junior teammates
• Strong personal drive, attention to detail, individual initiative, a sense of urgency and responsiveness, with a desire to grow, learn, and take on increasing levels of responsibility
• Ability to successfully communicate to influence management and lead change on both strategic and tactical initiatives.

This position additionally entails:

• Leading discussions with the Global Payments Services Front Line Unit (FLU), Global Banking FLUs, Global Compliance & Operational Risk (GCOR) and Global Financial Crimes (GFC) partners to analyze business processes, internal controls, client behavior and transaction trends
• Contributing to the creation and implementation of GFC Coverage Plan which defines the scope of coverage for Global Payments Services and Global Banking FLUs – U.S and International
• Establishing the strategic direction for monitoring and reporting on GFC, FLU and Enterprise risk tolerance metrics that are reflective of key risks within the areas of coverage and escalating financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees
• Engaging with the Financial Crimes Analytics Team the Financial Intelligence Unit to drive thematic reviews of key risks associated with high risk products, payment channels, and clients and to ensure effective GFC automated detection monitoring
• Directing the completion compliance activities such as: designing monitoring and testing routines and reporting to identify potential AML risks and/or control weaknesses; conducting targeted risk assessments, threat assessments and process understandings to identify new or emerging financial crimes risks; and identifying, aggregating, reporting, escalating, inspecting and challenging the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes
• Guiding FLUs on potential financial crimes impacts in the client selection and product expansion processes
• Participating in Regulatory Meetings and Exams to provide Risk Manager perspective on critical issues and engaging directly with Audit to provide advice and guidance on FLU Audits and respond to all Audit requests and inquiries
• Participating in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers to identify and mitigate emerging risks

Skills:

• Critical Thinking
• Monitoring, Surveillance, and Testing
• Regulatory Compliance
• Coaching
• Issue Management
• Policies, Procedures, and Guidelines Management
• Strategy Planning and Development
• External Resource Management
• Reporting
• Talent Development

Required Qualifications:

• Minimum of 7 years of relevant experience in financial services industry, financial crimes, risk management, AML compliance, regulatory compliance, investigations, operational risk management, business controls, or experience in related field
• Knowledge of anti-money laundering (AML) and related AML legislation
• Experience with compliance reporting, regulatory reporting, SARs reports
• Experience reconciling, analyzing, and manipulating large data
• Proficiency in compliance technology, case management systems, and data analytics tools is a plus
• Strong experience and understanding of Transaction Monitoring/CDD Models and Systems
• Experience in automating manual processes and good understanding of technologies that are designed for specific AML use cases

Desired Qualifications:

• Bachelor’s Degree in related field
• Experience in financial services and/or a related government entity
• Certified Anti-Money Laundering Specialist (CAMS)
• Experience and strong ability to work in a fast-paced, high-pressure environment and manage multiple priorities effectively
• Strong leadership and decision-making capabilities
• Ability to influence and drive change across the organization

Bank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please contact us by calling 1.877.760.2076. This is a dedicated line designed exclusively to assist job seekers whose disability prevents them from being able to apply online. Only messages left for this purpose will be considered. A response to your request may take up to two business days.

Please note: Messages left for other purposes such as following up on an application or non-disability related technical issues, will not receive a response.