AML Senior Scenario Manager

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 managing Anti-Money Laundering Automated Detection Scenarios and Models. Key responsibilities include working directly or through compliance officers for the Front Line Units (FLUs) and Control Functions (CFs) to complete compliance, policy, and operational requirements to build and maintain AML detection models. 

Responsibilities:

• Advises and directs the development and maintenance of financial crimes owned detection models.
• Produces and/or oversees business requirements documents for the development of AML models through coordination with risk stakeholders and financial crimes subject matter experts.
• Evaluates model development code for logic flaws and ensuring the design matches documented business requirements.
• Builds resolution plans and resolves Required Action Items assigned to model owners
• Monitor's model performance and completes model maintenance procedures.
• 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
• Understanding of Model development process
• Knowledge of SQL and/or PySpark or other similar coding language

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• This position involves taking a leadership role in model development and maintenance which involves ensuring work gets assigned and completed across several teams to include: Model Developers, Risk Managers, Financial Crimes Analysts, and Financial Crimes Investigators
• Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.
• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Required Qualifications:

• Minimum of seven (7) years of relevant experience in Global Financial Crimes, AML, or law enforcement specific to financial crimes
• Minimum 1 year of demonstrated technical capability to read/understand code (not looking for a developer)
• Knowledge of AML modeling design development
• Knowledge of anti-money laundering (AML) and related AML legislation

Desired Qualifications:

• Bachelor's Degree in related field
• Experience in financial services and/or a related government entity
• Certified Anti-Money Laundering Specialist (CAMS)
• Understanding of Model development process
• Knowledge of SQL and/or PySpark or other related coding language

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
• Credible Challenge
• Regulatory Knowledge
• High Risk Activities & Typologies
• Data Analysis, Interpretation & Decisioning
• Risk Control & Mitigation
• Financial Crimes Compliance Risk Principles

Shift:

Hours Per Week: