Global Financial Crimes Manager - FIU Detection & US Transaction Monitoring

Global Financial Crimes Manager - FIU Detection & US Transaction Monitoring

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

Required Qualifications :

Subject Matter Expertise in Transaction Monitoring solutions and models

Understanding of Monitoring Scoring methodologies and mechanism to improve false positive reduction

Understanding of Internal referral systems and management for financial crimes identification and reporting

Understanding of Model Risk Management principles for financial crimes

Subject Matter Expertise in Banking and Financial Crimes Technologies (specifically customer onboarding, customer profiling, account management systems)

Subject Matter Expertise in Customer Due Diligence and Customer Risk Rating for Financial Crimes

Understanding of database structures, technologies and design

Understanding of end-to-end data processing and management

Subject Matter Expertise in AML transaction monitoring and identification of potentially suspicious activities

Understanding of AML Monitoring methodologies and mechanism to improve false positive reduction

Experience in building financial crimes metrics and reporting platforms and processes

Subject Matter Expertise in Large Corporate Banking (US and outside US)

Subject Matter Expertise in Global Markets and Investments

Deep knowledge on Wire and ACH Payment processing and platforms

Skills : Critical Thinking

Monitoring, Surveillance, and Testing

Regulatory Compliance

Risk Management

Policies, Procedures, and Guidelines Management

Written Communications

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws.