Global Financial Crimes Specialist

4 weeks ago

Charlotte, North Carolina, United States Bank of America Full time

Job Description:

The Global Financial Crimes (GFC) Specialist **supports** Global Economic Sanctions executives and managers in **identifying**, escalating, and mitigating compliance and operational risks **in alignment with** the Compliance and Operational Risk Management (CORM) Program and the Economic Sanctions and Global Compliance - Enterprise Policies (GC Policy). The GFC Specialist **contributes** to identifying themes and trends at the front-line unit, control function, and enterprise level.

The GFC Specialist collaborates with other Compliance and Operational Risk (C&OR) officers, including horizontal coverage owners and Enterprise Areas of Coverage (EAC), to provide **comprehensive oversight** of Front-Line Unit/Control Function (FLU/CF) activities. This role helps develop and maintain a global coverage plan that defines the scope and risk-based focus of the second line's risk management activities. The GFC Specialist also **assists** in preparing materials for C&OR regulatory exams, audits, and inquiries.

Global Economic Sanctions (GES) is **in charge of** compliance and operational risk management of processes unique to economic sanctions. The GFC Specialist plays a key role in the identification, aggregation, reporting, and escalation of sanction-related risks.

Key Responsibilities:

  • Apply extensive knowledge of economic sanctions laws, rules, and regulations to the design, implementation, and management of sanctions risk monitoring, testing, assessment, and analysis of FLU/CF processes.
  • Assist in identifying, aggregating, reporting, escalating, remediating, and thematically analyzing FLU/CF-owned audit issues and Control Enhancements related to economic sanctions.
  • Support in the escalation of economic sanctions-related compliance and operational risks and Audit Issues to appropriate governance routines and management/board level committees.
  • Help in the remediation of economic sanctions owned Audit Issues and Control Enhancements to ensure they are addressed promptly.
  • Aid in the development of risk metrics, monitor related performance and breach remediation.
  • Produce independent economic sanctions risk management reports to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders.
  • Review FLU/CF-owned policies and standards to ensure regulatory requirements and operational risks are sufficiently addressed.
  • Monitor changes in regulations applicable to GFC and advise business leaders, directing appropriate areas to implement or amend policies, procedures, and processes to address regulatory requirements.
  • Design, implement, and manage monitoring to identify and evaluate sanction risks.
  • Evaluate and manage monitoring objectives and details.
  • Identify and develop point-in-time testing activities to evaluate sanctions risk.
  • Serve as test owner/test owner representative and maintain test plans/scripts.
  • Determine if Audit Issues or Control Enhancements are warranted based on oversight results.
  • Draft Risk Identified Audit Issues/CE when warranted.
  • Provide background/summary of reportable exceptions identified through oversight functions.
  • Communicate results to key stakeholders.
  • Execute economic sanctions periodic and targeted risk assessments.

Required Skills:

  • 3+ years experience in economic sanctions.
  • Prefer candidates with monitoring, testing, or quality assurance/quality control experience.
  • Ability to handle multiple projects in dynamic environments and global team settings.
  • Excellent business stakeholder management and communication skills.
  • Proficiency in MS Office.
  • Prefer candidates with GFC/Economic Sanction application experience (e.g., FircoSoft, ORCIT, PEGA, ORACLE, and NetReveal.
Shift: 1st shift (United States of America)Hours Per Week: 40

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