Senior Business Control Specialist

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. 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!

Job Description:
This job is responsible for driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation.

Line of Business Job Description:

About this Team:

Consumer AML Operations (CAML Ops) provides anti-money laundering (AML) and Bank Secrecy Act (BSA) operational support for Consumer and Small Business (C&SB) with some services extending across multiple lines of business.  Functions are supported to ensure the appropriate completion of critical customer due diligence for AML processes including customer data repair, centralized Refresh of customer due diligence data elements, exiting of customer relationships due to AML reasons, regulatory reporting of cash received in the U.S. including cash aggregation and currency transaction reporting exemption records as required by the BSA. 

Position Summary
The Senior Business Control Specialist will provide oversight and support in executing internal control discipline and operational excellence for the Currency Reporting Unit within the Consumer AML Operations (CAML Ops) Line of Business.  Prepares documentation for the tracking, monitoring, and escalation of risk related issues to management and acts as an ambassador of the risk culture.  Performs validation activities to ensure processes are adequate, effective, and meet control standards.  Provides governance over key controls and status of mitigation and action plans.
  
Focus is on long-term transformational goals in the area of control monitoring for business processes.  Responsible for the support of breakthrough enhancements for business process control monitoring and reporting, regulatory risk, quality assurance integration/synergies, and continuous process improvements. Engages and works closely with production management.  Influences across organizational lines to drive consistency, remove road blocks and take action on key priorities, regulatory requirements, and process improvements.  Displays a risk minded approach to all initiatives.  Provides risk guidance and Subject Matter Expertise.

Responsibilities:

• Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
• Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation
• Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
• Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
• Performs QA activities including executing on controls, managing cases, and reporting results
• Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success
• Supports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting

Additional Responsibilities may include: