Global Financial Crimes Executive - Global Payments

Bank of America - New York, NY

Full-time - Senior

New York, NY

Credit Intermediation and Related Activities

About the position

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!

Responsibilities

• Leading discussions with the Global Payments Services Front Line Unit (FLU), Global Banking FLUs, Global Compliance & Operational Risk (GCOR) and Global Financial Crimes (GFC) partners to analyze business processes, internal controls, client behavior and transaction trends.
• Contributing to the creation and implementation of GFC Coverage Plan which defines the scope of coverage for Global Payments Services and Global Banking FLUs - U.S and International.
• Establishing the strategic direction for monitoring and reporting on GFC, FLU and Enterprise risk tolerance metrics that are reflective of key risks within the areas of coverage and escalating financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees.
• Engaging with the Financial Crimes Analytics Team the Financial Intelligence Unit to drive thematic reviews of key risks associated with high risk products, payment channels, and clients and to ensure effective GFC automated detection monitoring.
• Directing the completion compliance activities such as: designing monitoring and testing routines and reporting to identify potential AML risks and/or control weaknesses; conducting targeted risk assessments, threat assessments and process understandings to identify new or emerging financial crimes risks; and identifying, aggregating, reporting, escalating, inspecting and challenging the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes.
• Guiding FLUs on potential financial crimes impacts in the client selection and product expansion processes.
• Participating in Regulatory Meetings and Exams to provide Risk Manager perspective on critical issues and engaging directly with Audit to provide advice and guidance on FLU Audits and respond to all Audit requests and inquiries.
• Participating in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers to identify and mitigate emerging risks.

Requirements

• 8+ years of executive level experience in AML/Sanctions compliance or equivalent
• Experience in payments and payments-adjacent funds flows (e.g., fiat-to-crypto) and ideally providing this expertise to individualized scenarios and client types across the globe
• Experience with U.S., and ideally also with international, sanctions interpretation, due diligence, alert review, issue management, and regulatory engagement
• Executive level and Board level communication experience
• Experience interacting and problem solving effectively with business executives, counsel, and industry groups
• Experience leading teams and initiatives
• A self-motivated worker who is comfortable and effective providing guidance to junior teammates
• 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
• Ability to successfully communicate to influence management and lead change on both strategic and tactical initiatives.

Nice-to-haves

• Change Management
• Decision Making
• External Resource Management
• Regulatory Compliance
• Strategy Planning and Development
• Issue Management
• Policies, Procedures, and Guidelines Management
• Risk Management
• Talent Development
• Written Communications
• Coaching
• Fraud Management
• Inclusive Leadership
• Investigation Management

Benefits

• Competitive benefits to support physical, emotional, and financial well-being
• Opportunities to learn and grow
• Flexible working arrangements