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Financial Crimes Manager - Crypto / Digital Assets

Financial Crimes Manager - Crypto / Digital Assets

Chicago StaffingChicago, IL, US
17 hours ago
Job type
  • Full-time
Job description

Financial Crimes Manager - Crypto / Digital Assets

This job is responsible for executing substantive money laundering, economic sanctions and fraud compliance and operational risk practices for Crypto Currency, Digital Assets, and Payments within the Global Payment Solutions business. Key responsibilities include working directly or through the emerging risk, 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 Financial Crimes senior leadership
  • 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

Additional Job Specific Responsibilities :

  • Leads discussions with FLU, GCOR and GFC partners to analyze business processes, internal controls, client behavior and transaction trends
  • Recommends changes to financial crimes standards, and review relevant Front Line Units / Control Functions-owned procedures (or like documents) to identify potential issues in meeting regulatory requirements and operational risks for resolution
  • Contribute to the creation and implementation of GFC Coverage Plan which defines the scope of coverage for GB / GM
  • Produces and / or oversees financial crimes risk management reporting to senior leaders within the business and global risk environment
  • Establish, monitor and report on GFC and FLU metrics that are reflective of key risks within the areas of coverage
  • Monitor regulatory changes applicable to Global Financial Crimes
  • Engage with relevant GFC partners to drive thematic reviews of key risk areas and develop / enhance GFC automated detection tools designed to identify potentially suspicious activity as per regulatory guidance
  • 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
  • Evaluates the risk of assigned financial-crimes related issues, monitors progress and provides no objection to action plans and closure activities
  • Conduct targeted risk assessments, threat assessments and process understandings to identify new or emerging financial crimes risks
  • Advise key leaders in client selection processes to guide FLUs on potential financial crimes impacts
  • Perform review and challenge of SPI and ensure FLU executes on challenges and / or issues raised
  • Engage directly with Audit to provide advice and guidance on FLU Audits and respond to Audit requests and inquiries
  • Participate in Regulatory Meetings and Exams to provide Risk Manager perspective on critical issues

    • 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 :

  • Risk Identification & Assessment
  • Issues Management & Resolution
  • Line of Business (LoB) Products, Services & Acumen
  • Financial Crimes Risk Programs
  • Enhanced Due Diligence
  • Credible Challenge
  • Customer Due Diligence
  • Regulatory Knowledge
  • High Risk Activities & Typologies
  • Financial Crimes Compliance Risk Principles

    • Required Qualifications :

  • Minimum of 7 years of relevant experience in financial services industry, risk management, AML compliance, regulatory compliance, operational risk management, business risk & controls, or experience in related field
  • Knowledge of anti-money laundering (AML) and related AML legislation
  • Bachelor's Degree or equivalent experience

    • Desired Qualifications :

  • Bachelor's Degree in related field
  • Expert knowledge of the Crypto / Digital Asset space
  • Experience in financial services and / or a related government entity
  • Certified Anti-Money Laundering Specialist (CAMS)
  • Experience and strong ability to work in a fast-paced, high-pressure environment and manage multiple priorities effectively
  • Strong leadership and decision-making capabilities
  • Ability to influence and drive change across the organization

    • Shift :

    1st shift (United States of America)

    Hours Per Week : 40

    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. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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