Global Financial Crimes Specialist

Global Financial Crimes Specialist - Economic SanctionsAt Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. 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 usThis 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.Global Economic Sanctions ("GES") is responsible for dedicated compliance and operational risk management of processes unique to economic sanctions. The Sanctions Risk Specialist is a function within GES that is responsible for the identification, aggregation, reporting, and escalation of sanction related risks. The Sanctions Risk Specialist is responsible for the execution of risk management responsibilities in areas such as sanctions advisory, issues management, and monitoring and testing from a sanctions compliance and risk perspective. This role is an individual contributor within the Sanctions Technology Oversight Team. The role will provide oversight of the Sanctions tools, data inventory, and end-to-end sanctions data testing.The Sanctions Risk Specialist may engage in the following processes to evaluate and assess FLU/CF controls, sanctions-specific second line functions and controls, and residual risks related to economic sanctions:Provide oversight of sanctions compliance tools used in transactions and customer screening, including tool performance monitoringSupport governance around onboarding of new screening lists, screening list rules, and list applicability across sanctions screening technologyCollaborate on data mapping, lineage tracing, and integrity checks across sanctions screening systemsParticipate in governance around changes to sanctions compliance tools, including documentation updates, requirement gathering, and system enhancement discussionsMonitor, test, and report on tool performance metrics and key controlsCoordinate with compliance, technology, and operations teams to support regulatory and audit requests with sanctions screening technologySupports 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 addressedAssists in the production of independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior LeadersAssists 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 neededContributes to risk coverage plans, executes independent risk monitoring, testing, and risk assessmentsSupports with escalating financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committeesAssists in the identification, aggregation, reporting, and escalation of the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimesAssists 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 appropriatelyRequired qualifications:Minimum of 5 years of relevant experienceExperience in financial services industry, risk management, financial crimes, testing, or related fieldBachelor's degree or equivalent experienceDesired qualifications:Experience in managing sanctions program issues and metricsAbility to handle multiple compliance projects in a dynamic environment with competing priorities across a global team settingExcellent business stakeholder management and communication skillsFinancial Services and/or related government entitySkills:Critical ThinkingMonitoring, Surveillance, and TestingRegulatory ComplianceRisk ManagementIssue ManagementPolicies, Procedures, and Guidelines ManagementWritten CommunicationsCoachingReportingTalent DevelopmentShift: 1st shift (United States of America)Hours Per Week: 40Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.