Global Financial Crimes Manager -Global Markets - U.S. and Global Markets Operations-U.S.
Company: Disability Solutions
Location: New York
Posted on: May 3, 2024
Job Description:
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. Responsible Growth is how we run our company and
how we deliver for our clients, teammates, communities and
shareholders every day.One of the keys to driving Responsible
Growth is being a great place to work for our teammates around the
world. We're devoted to being a diverse and inclusive workplace for
everyone. We hire individuals with a broad range of backgrounds and
experiences and invest heavily in our teammates and their families
by offering competitive benefits to support their physical,
emotional, and financial well-being.Bank of America believes both
in the importance of working together and offering flexibility to
our employees. We use a multi-faceted approach for flexibility,
depending on the various roles in our organization.Working at Bank
of America will give you a great career with opportunities to
learn, grow and make an impact, along with the power to make a
difference. 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.This role is responsible for executing the
Company's Global Financial Crimes Program and requires a strong
risk management discipline and experience with operational risk
processes. This role is responsible for identifying and assessing
inherent financial crimes risk and controls associated with Global
Markets - U.S. and Global Markets Operations - U.S. This role is
responsible for advising on Bank Secrecy Act/Anti-Money Laundering
laws, rules and regulations driving the front line units (FLUs) to
comply with the Global Financial Crimes Policy and Standards. This
individual will be responsible for identifying, escalating and
mitigating financial crimes compliance and operational risk. This
individual will be responsible for evaluating and communicating the
effectiveness of FLU controls and be able to drive the consistent
improvement and strengthening of these controls to improve upon the
Company's ability to detect and prevent unusual or suspicious
activityThe selected candidate will be or will have:--- A
self-motivated worker who is comfortable and effective working with
varying levels of guidance--- Strong personal drive, attention to
detail, individual initiative, a sense of urgency and
responsiveness, with a desire to grow, learn, and take on
increasing levels of responsibility--- Proven process design and
project management skills--- Proficient in Microsoft Office
Products including advanced knowledge of Excel Ability to
effectively interact with diverse teams.--- Ability to successfully
communicate to influence management and lead change on both
strategic and tactical initiatives.This position additionally
entails:
- Leading discussions with FLU, Global Compliance & Operational
Risk (GCOR) and Global Financial Crimes (GFC) partners to analyze
business processes, internal controls, client behavior and
transaction trends
- Directing the development and maintenance of financial crimes
policies and standards, and review relevant Front Line
Units/Control Functions (FLU/CF)-owned policies and standards to
ensure that regulatory requirements and operational risks are
appropriately addressed
- Contributing to the creation and implementation of GFC Coverage
Plan which defines the scope of coverage for Global Markets - U.S.
and Global Markets Operations - U.S.
- Producing and/or overseeing independent financial crimes risk
management reporting to GCOR and FLU Senior Leaders
- Establishing, monitoring and reporting on GFC, FLU and
Enterprise risk tolerance metrics that are reflective of key risks
within the areas of coverage
- Monitoring regulatory changes applicable to Global Financial
Crimes focusing specifically on broker-dealer impacts
- Engaging with the Financial Crimes Analytics Team to drive
thematic reviews of key risk areas for the broker-dealer and
develop/enhance GFC automated detection tools designed to identify
potentially suspicious activity as per regulatory guidance issued
by the SEC/FINRA
- Advise FLU senior leaders on key regulatory developments in
BSA/AML laws, rules and regulations
- Design monitoring and testing routines and reporting to
identify potential AML risks and/or control weaknesses
- Conduct targeted risk assessments, threat assessments and
process understandings to identify new or emerging financial crimes
risks
- Guide FLUs on potential financial crimes impacts in the client
selection process
- Perform independent review, challenge of Single Process
Inventory (SPI), and ensure FLU complies with execution of
challenges and/or issues raised
- Engage directly with Audit to provide advice and guidance on
FLU Audits and respond to all Audit requests and inquiries
- Participate in Regulatory Meetings and Exams to provide Risk
Manager perspective on critical issues
- Participate in industry forums and monitors regulatory
expectations, emerging legislation and regulation, political
scrutiny, litigation and key influencers to identify and mitigate
emerging risks
- Escalate financial crimes related compliance and operational
risks and issues to appropriate governance routines,
management/board level committees
- Identify, aggregate, report, escalate, inspect and challenge
the remediation and thematic analysis of FLU/CF-owned issues and
control enhancements related to financial crimesResponsibilities:
- 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.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 DevelopmentRequired Qualifications
- Minimum years of business and functional experience: 10+ years
of financial services industry experience, preferably with
broker/dealer and/or related government entity, as well as 5+ Years
working in anti-money laundering, compliance, audit, risk and/ or a
process/controls focused position.
- Degree required: Bachelor's degree or equivalent
experienceDesired Qualifications--- Certifications: ACAMS -
Association of Certified Anti-Money Laundering Specialists--- FINRA
Series 7 and/or Series 24 license Shift:1st shift (United States of
America)Hours Per Week: 40
Keywords: Disability Solutions, West Babylon , Global Financial Crimes Manager -Global Markets - U.S. and Global Markets Operations-U.S., Executive , New York, New York
Didn't find what you're looking for? Search again!
Loading more jobs...