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Global Financial Crimes Manager

Bank of America
3 days ago
Full-time
On-site
Phoenix, Arizona, United States
$105,000 - $170,000 USD yearly

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

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. Key responsibilities include working directly or through 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 Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders

  • 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

  • Identify, assess, and monitor emerging risks within financial crimes investigations.

  • Conduct end-to-end process analysis to uncover inefficiencies and recommend improvements that enhance investigative outcomes.

  • Lead initiatives to reduce non-value-added processes and create robust, high-value investigation outcomes.

  • Develop and implement risk-based internal controls to prevent, detect, and report financial crimes.

  • Evaluate the effectiveness of internal controls and identify gaps or weaknesses.

  • Provide subject matter expertise to support the development of regulatory changes.

  • Monitor regulatory changes and advise business leaders on implications; ensure timely updates to policies, standards, and procedures.

  • Escalate financial crimes-related compliance and operational risks to appropriate governance bodies.

  • Oversee remediation of financial crimes-related compliance and operational risk issues.

  • Design and monitor key risk and control performance metrics; report on performance and breach remediation.

  • Analyze investigation performance data and trends to provide actionable feedback and foster an inclusive team environment.

Required Qualifications:

  • Minimum of seven years of relevant experience

  • Knowledge of anti-money laundering (AML) and related AML legislation

  • Strong knowledge of business process management methodology.

  • Excellent verbal and written communication and presentation skills.

  • Proven ability to conduct root cause analysis and solve complex problems collaboratively.

  • Solutions-oriented mindset with strong critical thinking and business acumen.

  • Ability to thrive in a fast-paced, ambiguous environment and manage multiple priorities effectively.

  • Highly organized with strong multi-tasking capabilities.

  • Ability to analyze complex data and recommend outcomes

Desired Qualifications:

  • Bachelor's Degree in related field

  • Experience in financial services and/or a related government entity

  • Experience related to retail and/or institutional brokerage products and services and applicable compliance rules and regulations

  • Certified Anti-Money Laundering Specialist (CAMS)

  • Intermediate proficiency in process mapping and journey design.

  • Experience in change management or project management.

  • Comfortable navigating complex or ambiguous situations.

  • Lean Six Sigma Green Belt or Black Belt certification preferred.

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:

  • Data Analysis, Interpretation & Decisioning

  • Issues Management & Resolution

  • Process Management & Inventory

  • Project Management

  • Risk Identification & Assessment

  • Risk Monitoring & Testing

  • Products, Services & Acumen - Line of Business (LoB) - GFC

  • AML Regulatory Knowledge

  • Case Investigations & Resolution

  • Financial Crimes Risk Programs

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$105,000.00 - $170,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.