Global Financial Crimes Manager

Bank of America; Chicago (IL); On-site; USD 105,000 - 174,000; Full time

Benefits offered by this job

Industry-leading benefits

Paid time off

Employee support

Job summary

Bank of America in Chicago is hiring for a senior financial crimes compliance leader to execute money laundering, sanctions and fraud risk practices. You will manage the Financial Crimes Investigations US Training team and collaborate with Front Line Units and Control Functions.

The role requires extensive AML expertise, at least seven years of experience, and management experience to guide policy development, reporting and remediation efforts.

Qualifications

• Minimum of seven years of relevant experience.
• 3 years minimum of management experience.
• Knowledge of anti-money laundering (AML) and related AML legislation.

Responsibilities

• Advises and directs the development and maintenance of financial crimes policies and standards.
• Produces and/or oversees financial crimes risk management reporting to GC&OR and FLU/CF leaders.
• Monitors regulatory changes and guides policy updates across the organization.
• Participates in industry forums to identify emerging regulatory risks.
• Escalates financial crimes risks to governance bodies as needed.
• Gives oversight on remediation of financial crimes issues and control improvements.
• Manages associate performance and acts as a people manager where required.

Skills

Critical Thinking

Monitoring, Surveillance, and Testing

Regulatory Compliance

Risk Management

Coaching

Issue Management

Policies, Procedures, and Guidelines

Strategy Planning and Development

Written Communications

External Resource Management

Reporting

Talent Development

Education

Bachelor’s Degree in related field

Certified Anti-Money Laundering Specialist (CAMS)

Job description

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!

Job Description

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.

This specific role will be responsible for managing the Financial Crimes Investigations US Training team.

Responsibilities

• Advises and directs the development and maintenance of financial crimes owned policies and standard, 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

Managerial Responsibilities

This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.
• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, elevate and debate issues.
• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Required Qualifications

• Minimum of seven years of relevant experience
• 3 years minimum of management experience
• 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
• Certified Anti-Money Laundering Specialist (CAMS)

Skills

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

Pay range

$105,000.00 - $173,900.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This 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.

Benefits

This 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.