Global Financial Crimes Business Controls & Operations Executive

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!

The Global Financial Crime (“GFC”) Executive I contributes to the direction and drives the development of enterprise-wide money laundering, economic sanctions, and fraud compliance and operational risk practices consistent with applicable laws, rules, regulations and regulatory guidance. The GFC Executive I serves as a trusted advisor to the Chief Compliance and Operational Risk (“C&OR”) Officers of the Front Line Units (“FLU”) and Control Functions (“CF”) for the company and to the leaders of the FLUs and CFs directly.

The Global Financial Crimes (GFC) Business Controls Executive is responsible for leading and executing on internal control discipline and operational excellence in the GFC organization. Key responsibilities include overseeing and managing the GFC Risk Program, which includes oversight and execution of the Global Compliance and Operational Risk (GCOR) program, policy and procedures, audit and regulator exams, quality and timely issues remediation, process and control environment, monitoring and testing, governance, third parties, and overall operations of the GFC organization.

Responsibilities:

• Provide business control leadership and expertise for the Global Financial Crimes organization with a focus on strong and proactive risk management

• Oversee and provide strategic direction on the implementation and execution of GFC risk management processes, ensuring compliance with program requirements, regulatory standards, and fostering a culture of accountability and proactive risk management across the organization

• Ownership of one or more elements of the GFC Risk Program and ensure effective execution

• Assist as necessary with regulator exam or audit responses, including the development of strategic messaging and ensuring comprehensive communication

• Partner effectively with leadership and stakeholders across GFC, GCOR and other Enterprise partners to ensure alignment of expectations and execution

• Ensure processes across GFC are mapped in the Single Process Inventory and operating effectively; identify, measure, and monitor appropriate controls to mitigate risks and enhance for continuous improvement

• May include oversight and execution of the GFC governance framework and/or broader operational functions, including capacity planning, strategic and initiative planning as examples

• Escalate risks timely and appropriately. Develop solutions and deliver mitigating actions in support of risk reduction efforts

• Develop and maintain reports and routines to measure the effectiveness of the GFC Program and control environment

• Lead execution strategies and efforts to address regulatory feedback

Managerial Responsibilities:
 

This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Breaks down barriers to create a more inclusive environment that supports company O&I goals

• Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations

• Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success

• Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization

• Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance

• Efficiently allocates and manages resources across the organization