Global Financial Crimes Regulatory Inventory & Change Management Manager

Bank of America - Phoenix, AZ

Full-time

Phoenix, AZ

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. 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. The Global Financial Crimes (GFC) Regulatory Inventory and Change Management Manager with the GFC Program and Policy Oversight team will design, implement, and manage the Global Financial Crimes Regulatory Inventory and Change Management program, to include overseeing GFC global execution of and support for the Regulatory Inventory and Regulatory Change Management (RIRCM) process and the identification, assessment, and implementation of financial crimes relevant US and non-US laws, rules, regulations (LRR) and binding guidance requirements. The role will also oversee RIRCM reporting in GFC management routines and governance forums, monitor execution of implementation requirements to meet regulatory expectations in a timely manner, and implement and execute the Red Flag Inventory process, including the identification of financial crimes red flags and related applicability mapping. Additionally, the manager will lead remediation of regulatory findings and issues, manage and execute functional requirements, ensure adherence to internal/external regulations, and monitor program efficiency.

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

Requirements

• 10 or more years experience in Financial Crimes Compliance or related roles
• Risk or Compliance experience in Financial Institutions
• Strong understanding of technology, general controls, and other controls
• Sound organizational, analytical, oral, and written communication skills including ability to effectively write reports, present to management and various regulators
• Demonstrated ability to work in a matrix reporting structure
• Ability to successfully communicate to influence management and lead change on both strategic and tactical initiatives
• Excellent interpersonal skills
• Ability to effectively interact with diverse teams
• Solid understanding of audit practices and methodologies, as well as rules for professional and ethical conduct
• Ability to think critically and apply technical expertise.

Nice-to-haves

• 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

Benefits

• Competitive benefits to support physical, emotional, and financial well-being