High Risk Detection - Senior Operations Consultant

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

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 resolving day-to-day complex problems, researching, and executing on complex transactions for multiple sites or larger business unit(s). Key responsibilities include leading the design, development, and implementation of products, systems, processes, and services using discretion within the project management methodologies, with a focus on continuous improvement.

The Global AML Onboarding Organization is a central control function which governs, facilitates, and oversees the end-to-end AML program across all GBGM and Consumer businesses and jurisdictions globally and manage AML risks by implementing and executing processes and controls. The High-Risk Detection Group (HRD) is part of AML Operations supporting Global Banking (GB), Global Markets (GM), Consumer & Small Businesses LOBs with responsibility to detect high risk within the business scope through ongoing monitoring and due diligence. This is managed through 4 Functional teams: AML Screening, Periodic Transaction Monitoring, Enhanced Client Diligence and Sanctions Monitoring. This role is to lead one of our regional teams who manage the Client and Party Screening processes based in AMRS supporting material negative news and SPF/PEP.

The High-Risk Detections Screening Associate is responsible for reviewing systematic Anti-Money-Laundering (AML) alerts and conducting Enhanced Due Diligence reviews customers with negative news and SPF/PEP alerts - consumer and commercial. The associate has an understanding of key topics within the high-risk client lifecycle management process, including: Source of Wealth corroboration, negative news and adverse media screening, collection of required customers, documentation, nature and purpose of account, monitoring/mitigating of potential suspicious transactions, changes in regulatory rules, recent trends and enforcement actions, peer group leading practices, client risk rating, other AML related red flags. This position requires strong ownership of the learning process, prioritization and substantial analytic skills, case management skills and an ability to drive positive change. This position requires sound judgment, attention to detail, and the highest degree of confidentiality and accuracy in the handling of information and in discharging responsibilities.

Effectively and voluntarily takes on additional roles and responsibilities including participating in special projects; and working closely with branches and business lines.

Responsibilities:

• Leads the design, development, and implementation of systems, and services in an operations environment using subject matter expertise

• Manages projects and direct activities of a team related to special initiatives

• Advises as a technical expert in assigned area by providing work direction, guidance, and training to employees and business partners on new complex initiatives

• Builds relationships with business partners across various Lines of Business

• Manages and defines responsibilities and accountabilities for key program and projects

• Execute and improve client screening controls, with focus on Adverse media (negative news) detection and PEP identification and classification

• Monitor and update customer risk profiles on an ongoing basis

• Liaise with stakeholders and subject matter experts across region and business unites to gather feedback and requirements

• Analyze and identify opportunities for improvement in accuracy, precision and other key metrics

• Provide regular reporting to senior leadership on status and ongoing management of enterprise screening

• Taking part in or responding to escalations and queries for Audits, Tests and Exams where nece