Bank of America Corporation

Global Financial Crimes Specialist

Bank of America Corporation • $90K — $110K *
Toronto, ON M3C 0E3In-Person
Finance & Insurance
5 - 7 years of experience
Today
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Job Overview by Ladders

Qualifications

  • 5+ years of experience in compliance and risk management, particularly in AML and Sanctions within the financial industry.
  • Proficient in suspicious transaction reviews and reporting, particularly in cases of sanctions evasion.
  • Demonstrated experience in managing stakeholders and providing client advisory regarding risk management.
  • Expertise in identifying and mitigating AML concerns and escalating issues as necessary.
  • Strong decision-making ability related to Financial Crimes Compliance, with the capacity to challenge frontline units (FLUs).
  • Bachelor’s degree or equivalent work experience required.
  • Preferred experience with global banking and markets along with financial crimes risks specific to Canada.

Responsibilities

  • Support the Canada MLRO in executing compliance and risk activities.
  • Review potential suspicious activity and sanctions alerts.
  • Assist in the preparation and filing of suspicious activity reports (SAR/STR).
  • Participate in financial crimes-related regulatory exams and audits.
  • Develop metrics and analytical reports for governance routines.
  • Implement local controls in line with Canadian regulations.
  • Create monitoring and testing coverage plans for compliance activities.

Benefits

  • Opportunities for professional growth and development in compliance and risk management.
  • Exposure to a diverse range of financial crimes compliance projects.
  • Collaborative working environment with global teams and stakeholders.
  • Contribution to significant regulatory compliance efforts that impact the financial sector.
  • Chances to develop and enhance expertise in financial crimes risks specific to Canada.
Full Job Description

Job Description

The role will support execution of compliance and operational risk processes used to identify and mitigate risks associated with money laundering, terrorist financing, economic sanctions and fraud and provide risk management and client advisory support within Canada. The incumbent will partner with the Money Laundering Reporting Officer to assisting in the review of potential suspicious transactions and with the associated regulatory filing, support regulatory and corporate audits, as well as work with front line business, operations and other financial crimes teams across the region and globally to assess and monitor risks and controls, identify trends, analyse business processes and review quality assurance trends.

Responsibilities

  • Support the Canada MLRO in performing compliance and risk activities, including:

  • Reviewing potential suspicious activity and sanctions alerts

  • Assisting with suspicious activity (SAR/STR) regulatory filings

  • Assisting with preparation for, and participating in, financial crimes related regulatory exams and audits

  • Executing governance and management routines, including development of metrics and analytical reports

  • Executing local designed controls required in adherence to Canadian regulations

  • Develop monitoring and test coverage plans

  • Performing monitoring and testing activities of Front Line Unit (FLU) and control function (CF) -owned processes related to Customer Due Diligence activities, Non-Financial Regulatory Reporting, or other activities as required against Canadian AML/CFT laws, rules and regulations

  • Assisting with the review of relevant policies to ensure they reflect Canadian AML/CFT regulatory requirements for Financial Crimes

  • Acting as the Canada GFC owned procedures specialist

  • Identifying, aggregating, reporting and escalate financial crimes risks, issues and control enhancements

  • Conducting financial crimes risk assessments

  • Assisting in the development of financial crimes training

  • Escalating financial crimes concerns to the Global Financial Crimes Manager or Executive

Qualifications

  • At least 5 years relevant experience in Control Functions including AML and Sanctions, advisory background or Financial Crimes Compliance gained from working in the financial industry

  • Sound experience with Suspicious transaction reviews, including potential instances of sanctions evasion, and Ministerial Directives, and associated reporting

  • Business Stakeholder Management: experience in risk management and client advisory

  • Compliance and Operational Risk: experience identifying, mitigating and escalating matters of AML concerns to FLUs and senior management

  • Possesses decision making skills related to Financial Crimes Compliance Risk Management- and are able to stand up to the FLUs and take decisions

  • Degree Required: Bachelors Degree or equivalent work experience

  • Preferred candidates with understanding of global banking and markets business lines

  • Preferred candidates with subject matter expertise in financial crimes risks related to Canada

  • Ability to handle multiple compliance projects in a dynamic environment and regional team setting

Skills

  • Ability to read and interpret regulatory guidance

  • Extensive knowledge of AML typologies

  • Working knowledge of Ministerial Directives reviews and filings

  • Strong analytical, organizational and decision making skills

  • Strong written and verbal communications

  • Strong understanding of monitoring, testing and/or quality assurance processes

  • Strong personal drive, attention to detail, must be a self-motivated and critical thinker

  • Ability to handle multiple projects in a dynamic environment Proficiency with MS Office programs  including strong Excel expertise and Copilot

  • Mature change management and transformation abilities

  • Ability to quickly learn proprietary technology applications

  • Excellent research abilities, including exposure to research tools (e.g. LexisNexis, CLEAR)

  • Sound judgment

Shift:

Hours Per Week:

37.5

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
Finance & Insurance
Net Income
$17.8 billion
Founded
1998
5 Year Trend
-1.4%
NASDAQ
BAC
* Ladders Estimates

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