Sanctions Risk Specialist

2 weeks ago

Dallas, United States Bank of America Full time

Description

:
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. As GFC monitoring covers all FLUs within the bank, this role will have the opportunity to gain exposure to multiple Bank products and systems.
 
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:

Identify, implement, and execute monitoring and testing routines to verify key controls within the sanctions screening technology and operations teams  Evaluate and manage monitoring objectives and pertinent details in ORCIT  Serve as test owner/test owner representative and maintain test plans/scripts in OCP and socializing the information with the appropriate stakeholders  Determine if Audit Issues or Control Enhancements are warranted based on oversight results  Draft, own and resolve to completion Audit Issues/CE when warranted  Oversee screening technology audit issues related to sanctions  Provide background/summary of key matters identified via oversight functions to GFC management  Communicate results to key stakeholders, respond to auditors and regulators, prepare presentation to regional and global risk committees and conduct risk analysis and research on economic sanctions related matters  Execute or assist in executing economic sanctions periodic and/or targeted risk assessments  Provide priority, business requirements and guidance on technology changes to sanctions technology teams  Establish, maintain and oversee FLU/CF inventory data feeds to sanctions filters  Provide guidance and oversee new lists within the sanctions screening technology  Maintain and oversee lists applicability, in consultation with Money Laundering Reporting Officers, within the sanctions screening technology  Review and provide approval of new rules, in consultation with Money Laundering Reporting Officers, within the sanctions screening technology Critical Thinking Monitoring, Surveillance, and Testing Regulatory Compliance Risk Management Policies, Procedures, and Guidelines Management Written Communications Reporting


Required Qualifications:

Minimum 5 years of business and/or functional experience in financial services industry, risk management, financial crimes, testing, or experience in a related field Minimum 3 years of experience in economic sanctions Minimum 3 years of experience in monitoring, testing, and/or quality assurance/quality control experience  Bachelor’s degree or equivalent work experience


Desired Qualifications: 

Financial Services and/or related government entity Ability to handle multiple projects in dynamic environment and global team setting  Excellent business stakeholder management and communication skills  Strong Excel skills

Shift:

1st shift (United States of America)

Hours Per Week: 

40

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