GFC Financial Crimes Fraud/AML Risk 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 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 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.

The Global Financial Crimes (GFC) Fraud/AML Risk Manager is responsible for engaging in activities to provide independent fraud/AML risk oversight of Front Line Unit or Control Function (“FLU/CF”). The GFC Fraud/AML Risk Manager is accountable for the requirements of the Global Compliance and Financial Crimes Enterprise Policies, Compliance and Operational Risk Management Program (CORM Program), the Global Compliance - Enterprise Policy, the Operational Risk Management – Enterprise Policy (collectively the Policies) and the Enterprise Fraud Risk Management Standard and works directly or through compliance officers for the Front Line Units (FLUs) and Control Functions (CFs) to complete those requirements. 
 
The GFC Fraud/AML Risk Manager proactively engages with other Compliance and Operational Risk (“C&OR”) officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role supports the development of the global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The GFC Fraud/AML Risk Manager prepares materials for regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries. 

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
• Executes independent risk monitoring, testing, targeted risk assessments, periodic risk assessments, and the quarterly Enterprise Fraud Risk assessment, and communicates results 
• Reviews, inspects, and challenges the accuracy and completeness of processes in the Single Process Inventory (SPI) 
• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation 

Required Qualifications:

• Minimum of 7 years of relevant experience (Fraud, AML, compliance, operational risk, and/or business control experience or equivalent)
• Bachelor’s degree or equivalent experience
• Strong understanding of Consumer and non-Consumer lines of business 
• Strong knowledge of risk and control management frameworks and ability to analyze business results to identify emerging risks 
• A flexible and solution driven perspective, and a determination and desire to find answers to complex issues 
• Ability to lead projects and drive change with senior business and other control functions 
• Willingness to learn beyond the task or job at hand
• Ability to work both as part of a team and independently
• Detail-oriented and ability to work in a fast-paced environment, under pressure
• Ability to communicate clearly both orally and in writing with senior stakeholders and external parties 

Desired Qualifications:

• Experience in financial services and/or a related government entity
• Certified Anti-Money Laundering Specialist (CAMS)

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
• Verbal Communications
• Interpersonal Skills

Shift:

1st shift (United States of America)

Hours Per Week: 

40