Global Financial Crimes Quality Assurance / Quality Control Manager

Bank of America; Charlotte (NC); On-site; USD 80,000 - 120,000; Full time

Job summary

An established industry player is seeking a Global Financial Crimes Quality Assurance Manager to lead quality assurance efforts in anti-money laundering and fraud risk management. This role involves designing and implementing QA/QC tests, collaborating with various stakeholders, and ensuring compliance with regulatory standards. The position offers the chance to drive impactful changes in a dynamic environment while working with a diverse team. If you have a passion for financial compliance and a strong background in risk management, this opportunity could be your next career move.

Qualifications

• 7+ years of experience in Financial Services and/or Financial Crimes.
• Strong communication skills and ability to work in a global team.

Responsibilities

• Design and execute QA and QC tests for financial crimes risk management.
• Collaborate across functions to ensure compliance and operational excellence.

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 in relevant area

Experience in financial services

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. 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 Quality Assurance / Quality Control Manager is responsible for executing substantive quality assurance (QA) and quality control (QC) for Anti Money Laundering (AML), Economic Sanctions and Fraud risk management programs. Key responsibilities include the design, implementation and ongoing management of the Global Financial Crimes (GFC) Quality Assurance and Program Performance Program, which requires a strong understanding of program requirements, reporting of findings, and consistent quality execution of the GFC-performed program activities. The position requires engagement and coordination across the GFC organization and Global Compliance and Operational Risk (GCOR) stakeholders.

Responsibilities:

• Design, implement and execute QA and QC tests driven by a risk-based approach and ensuring adequate coverage of GFC program activities.
• Review and challenge the GFC’s execution of risk program activities through QA and QC and ensure remediation of findings.
• Draw accurate conclusions and formulate solutions to support decision-making and analysis of results.
• Demonstrate deep process knowledge, operational excellence and innovation through a focus on simplicity, data-based decision making and continuous improvement.
• Collaborate across functions and organizational areas, while utilizing operational business knowledge, managing multiple priorities, and communicating with impact.
• Provide inspection, coaching and feedback to motivate, differentiate and improve performance.
• Remediate regulatory findings and issues to drive adherence for internal expectations and external regulations.
• Manage ongoing routines to monitor the effectiveness and identify enhancements for QA/QC activities.
• Serve as liaison with GCOR for GFC QA/QC matters.
• Lead engagement with GFC leaders and stakeholders (US and non-US) to execute GFC Quality Assurance requirements.
• Advise and direct the development and maintenance of financial crimes owned policies and standards, and review relevant Front Line Units/Control Functions-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed.
• Produce and/or oversee independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders.
• Monitor 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.
• Participate in industry forums and monitor regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers to identify and mitigate emerging risks.
• Escalate financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees.
• Identify, aggregate, report, escalate, inspect, and challenge the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes.
• Review and challenge internal and external operational loss events, including the development of remediation plans to strengthen controls and provide oversight to ensure they are addressed appropriately.

Required Qualifications:

• 7 or more years of relevant work experience in Financial Services and/or Financial Crimes.
• Bachelor degree in relevant area or equivalent experience.
• Demonstrated ability to support a dynamic environment and global team setting.
• Strong and effective communication and presentation skills, verbal and written.
• 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.
• Must be a self-motivated, critical thinker who is comfortable and effective working with varying levels of guidance.
• 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.
• Certifications: CAMS – Certified Anti-Money Laundering Specialist (CAMS) or Certified Fraud Examiner (CFE).

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.

Preferred Technical Skills:

• Risk Identification & Assessment.
• Issues Management & Resolution.
• Line of Business (LoB) Products, Services & Acumen.
• Risk Governance & Reporting.
• Financial Crimes Risk Programs.
• Credible Challenge.
• Regulatory Knowledge.
• Risk Control & Mitigation.
• Financial Crimes Compliance Risk Principles.
• Process Management & Inventory.

Shift:

1st shift (United States of America)

Hours Per Week:

40