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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

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 for Crypto Currency, Digital Assets, and Payments within the Global Payment Solutions business. Key responsibilities include working directly or through the emerging risk, compliance officers for the Front Line Units (FLUs) and Control Functions (CFs) to complete compliance, policy, operational/fraud risk management requirements.

Responsibilities:

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 Financial Crimes senior leadership
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

Additional Job Specific Responsibilities:

Leads discussions with FLU, GCOR and GFC partners to analyze business processes, internal controls, client behavior and transaction trends
Recommends changes to financial crimes standards, and review relevant Front Line Units/Control Functions-owned procedures (or like documents) to identify potential issues in meeting regulatory requirements and operational risks for resolution
Contribute to the creation and implementation of GFC Coverage Plan which defines the scope of coverage for GB/GM
Produces and/or oversees financial crimes risk management reporting to senior leaders within the business and global risk environment
Establish, monitor and report on GFC and FLU metrics that are reflective of key risks within the areas of coverage
Monitor regulatory changes applicable to Global Financial Crimes
Engage with relevant GFC partners to drive thematic reviews of key risk areas and develop/enhance GFC automated detection tools designed to identify potentially suspicious activity as per regulatory guidance
Advise FLU senior leaders on key regulatory developments in BSA/AML laws, rules and regulations
Design monitoring and testing routines and reporting to identify potential AML risks and/or control weaknesses
Evaluates the risk of assigned financial-crimes related issues, monitors progress and provides no objection to action plans and closure activities.
Conduct targeted risk assessments, threat assessments and process understandings to identify new or emerging financial crimes risks
Advise Key leaders in client selection processes to guide FLUs on potential financial crimes impacts
Perform review and challenge of SPI and ensure FLU executes on challenges and/or issues raised
Engage directly with Audit to provide advice and guidance on FLU Audits and respond to Audit requests and inquiries
Participate in Regulatory Meetings and Exams to provide Risk Manager perspective on critical issues
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

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

Preferred Technical Skills:

Risk Identification & Assessment
Issues Management & Resolution
Line of Business (LoB) Products, Services & Acumen
Financial Crimes Risk Programs
Enhanced Due Diligence
Credible Challenge
Customer Due Diligence
Regulatory Knowledge
High Risk Activities & Typologies
Financial Crimes Compliance Risk Principles

Required Qualifications:

Minimum of 7 years of relevant experience in financial services industry, risk management, AML compliance, regulatory compliance, operational risk management, business risk & controls, or experience in related field
Knowledge of anti-money laundering (AML) and related AML legislation
Bachelor's Degree or equivalent experience

Desired Qualifications:

Bachelor's Degree in related field
Expert knowledge of the Crypto/Digital Asset space
Experience in financial services and/or a related government entity
Certified Anti-Money Laundering Specialist (CAMS)
Experience and strong ability to work in a fast-paced, high-pressure environment and manage multiple priorities effectively
Strong leadership and decision-making capabilities
Ability to influence and drive change across the organization

Shift:

1st shift (United States of America)

Hours Per Week:

40

Financial Crimes Manager - Crypto / Digital Assets

Job Type