Global Financial Crimes Economic Sanctions Compliance Advisor Bank of America

GeoPolist; New York (NY); On-site; USD 100,000 - 140,000; Full time

Job summary

A leading financial institution is seeking a Sanctions Compliance Advisor to provide expert advisory support on sanctions compliance matters, ensuring adherence to regulatory requirements and internal policies. The role involves assessing sanctions risks, developing compliance policies, and collaborating across teams to enhance the bank’s sanctions compliance framework.

Benefits

Competitive benefits

Flexibility in working arrangements

Qualifications

• Minimum of seven years of relevant experience.
• 5+ years in financial crimes compliance or a related risk management role.

Responsibilities

• Provide guidance on sanctions-related matters, including compliance with OFAC and other sanctions regimes.
• Conduct sanctions risk assessments and escalate potential sanctions violations.

Skills

Regulatory Compliance

Monitoring, Surveillance, and Testing

Critical Thinking

Issue Management

Policies, Procedures, and Guidelines Management

Education

Bachelor’s degree in Finance, Business, Law, International Relations, or a related field

Master’s or JD preferred

Job description

Reading: Global Financial Crimes Economic Sanctions Compliance Advisor

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.

Bank of America is seeking a highly motivated and detail-oriented professional to join our Global Financial Crimes team as aSanctions Compliance Advisor. This individual contributor role will be responsible for providing subject matter expertise and advisory support on sanctions compliance matters to ensure the bank’s adherence to regulatory requirements and internal policies.

Responsibilities:

Provide guidance on sanctions-related matters, including compliance with OFAC, EU, UK, and other global sanctions regimes.

Assess and advise on sanctions risks related to transactions, clients, products, and services.

Conduct sanctions risk assessments and escalate potential sanctions violations to senior compliance leadership as needed.

Support the development, implementation, and enhancement of sanctions compliance policies, procedures, and controls.

Advise internal stakeholders, including business units and operations teams, on sanctions-related regulatory requirements and best practices.

Review and analyze alerts, transactions, and investigations related to potential sanctions violations.

Assist in regulatory inquiries, audits, and examinations related to sanctions compliance.

Monitor and interpret regulatory developments, enforcement actions, and industry trends to enhance the bank’s sanctions compliance framework.

Collaborate with other compliance, legal, and risk management teams to ensure a coordinated approach to sanctions compliance.

Contribute to training programs and awareness initiatives to promote a strong sanctions compliance culture across the organization.

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

Qualifications

Bachelor’s degree in Finance, Business, Law, International Relations, or a related field (Master’s or JD preferred).

Minimum of seven years of relevant experience

5+ years of experience in financial crimes compliance, sanctions compliance, or a related risk management role within the financial services industry.

Strong knowledge of U.S. and international sanctions laws, including OFAC regulations, EU and UK sanctions, and other relevant global frameworks.

Experience advising on sanctions risk in a complex financial institution.

Familiarity with sanctions screening tools, investigative techniques, and risk assessment methodologies.

Strong analytical and problem-solving skills, with the ability to assess complex issues and provide clear recommendations.

Excellent written and verbal communication skills, with the ability to interact effectively with stakeholders at all levels.

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

Desired Qualifications:

Bachelor’s Degree in related field

Experience in financial services and/or a related government entity

Relevant certifications (e.g., CAMS, CGSS, or similar)

Skills:

Regulatory Compliance

Monitoring, Surveillance, and Testing

Critical Thinking

Issue Management

Policies, Procedures, and Guidelines Management

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