Bank of America Corporation

Global Financial Crimes Specialist

Bank of America Corporation • $80K — $95K *
Finance & Insurance
5 - 7 years of experience
Job Overview by Ladders

Qualifications

  • 5+ years of business and functional experience
  • Bachelor's degree or equivalent experience
  • Experience in financial services or related government entities
  • Strong critical thinking skills
  • Proficiency in regulatory compliance and risk management practices

Responsibilities

  • Support development and maintenance of financial crimes policies and standards
  • Assist in producing independent risk management reports for senior leaders
  • Monitor regulatory changes and guide business leaders on policy amendments
  • Contribute to risk assessments and execute independent testing
  • Escalate compliance and operational risks to governance bodies
  • Assist in identifying and reporting control enhancements related to financial crimes
  • Review operational loss events and develop remediation plans

Benefits

  • Comprehensive benefits package
  • Opportunities for talent development
  • Supportive work environment
  • Potential for career advancement
  • Flexible working arrangements
Full Job Description
Position Summary:
This job is responsible for supporting the execution of substantive money laundering, economic sanctions and fraud compliance and operational risk practices. Key responsibilities include assisting Global Financial Crimes executives and managers with activities that support the identification, escalation and timely mitigation of compliance and operational risks in alignment with the Compliance and Operational Risk Management (CORM) Program, the Financial Crimes and Global Compliance - Enterprise Policies and the Enterprise Fraud Risk Management Standards.

Responsibilities:

  • Supports 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
  • Assists in the production of independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders
  • Assists in the monitoring of 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
  • Contributes to risk coverage plans, executes independent risk monitoring, testing, and risk assessments
  • Supports with escalating financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees
  • Assists in the identification, aggregation, reporting, and escalation of the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes
  • Assists in the review of internal and external operational loss events, including the development of remediation plans to strengthen controls and providing oversight to ensure they are addressed appropriately


Required Qualifications:

  • Minimum years business and functional experience: 5 Years
  • Degree required: Bachelor's or equivalent experience


Desired Qualifications:

  • Financial Services and/or related government entity


Skills:

  • Critical Thinking
  • Monitoring, Surveillance, and Testing
  • Regulatory Compliance
  • Risk Management
  • Issue Management
  • Policies, Procedures, and Guidelines Management
  • Written Communications
  • Coaching
  • Reporting
  • Talent Development


Hours Per Week:
40
Travel Required:
Yes, 5% of the time

About Bank of America Corporation

Bank of America Merrill Lynch is the corporate and investment banking division of Bank of America. It provides services in mergers and acquisitions, equity and debt capital markets, lending, trading, risk management, research, and liquidity and payments management. It was formed through the combination of the corporate and investment banking activities of Bank of America and Merrill Lynch following the acquisition of the latter by the former in January 2009. Bank of America completed the acquisition of Merrill Lynch & Co on 1 January 2009. Bank of America began rebranding all of its corporate and investment banking activities under the Bank of America Merrill Lynch name in September 2009. In April 2010, Bank of America Merrill Lynch appointed Christian Meissner as head of investment banking for Europe, Middle East and Africa. In April 2011, Bank of America Merrill Lynch integrated its corporate and investment banking operations into a single division. In October 2013, Bank of America Merrill Lynch was recognised as the Most Innovative Investment Bank of the Year in The Banker's Investment Banking Awards.

Bank of America Corporation Careers

Join the dynamic team at Bank of America Corporation, a premier global financial institution where innovation, leadership, and growth go hand in hand. As one of the largest banks in the world, we offer unparalleled job opportunities and a culture that values diversity, inclusion, and professional growth. Work You’ll Do At Bank of America Corporation, you’ll be part of a team that’s dedicated to making a real difference. Whether you’re helping families buy their first home, advising businesses on expansion, or developing cutting-edge financial technologies, your work will have an impact. Our commitment to leadership in the financial industry has never been stronger, and we need passionate, skilled professionals to lead our journey. Explore a World of Opportunities From entry-level positions to leadership roles, Bank of America Corporation offers a variety of career paths in areas such as investment banking, technology, marketing, and risk management. Our job opportunities span the globe, providing the chance to work alongside the best in the industry and develop skills that will propel your career forward. Internship Programs Kickstart your career with Bank of America Corporation’s internship programs. These opportunities provide hands-on experience and a chance to engage in meaningful work that complements your academic studies. Interns gain invaluable networking opportunities, receive mentorship from seasoned professionals, and learn about the culture and operations of a global financial leader. Benefits and Growth Bank of America Corporation is committed to the well-being and continuous professional development of our team members. We offer a competitive benefits package that supports the health, financial stability, and work-life balance of our employees. Our training programs and development initiatives ensure that every team member has the opportunity to grow and advance within the company. Inclusive Culture We believe our strength lies in our diversity. Bank of America Corporation fosters an inclusive environment where all employees can thrive. Through diversity training and a commitment to equal opportunities, we cultivate leadership and innovation that reflect the wide-ranging communities we serve. Join Our Team Are you ready to advance your career at a company that’s at the forefront of the financial industry? Explore the positions available at Bank of America Corporation and find where your skills and interests align with our needs. We are continuously hiring and looking for individuals who are curious, creative, and eager to drive change. Stay Connected Keep up to date with the latest from Bank of America Corporation Careers by subscribing to our job alert emails. Tailor your subscription to receive updates that match your career interests and get insider tips that can help you during your application and interview process. Bank of America Corporation is not just a company—it’s a place where you can shape your future and the future of finance. Join us and be part of a team that’s redefining what a bank can be.
Learn more about Bank of America Corporation
Size
208,000 employees
Market Cap
$260.3 billion
Industry
Net Income
$17.8 billion
Founded
1998
5 Year Trend
-1.4%
NASDAQ

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