Global Financial Crimes 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!
 

Job Description:

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.

This role will be responsible for managing a team of Global Financial Crimes Risk Managers and Specialists overseeing the strategic development and implementation of the Global Financial Crimes program for Global Markets - US.  This person will manage a group of subject matter experts and will oversee the day-to-day FLU interaction with Global Markets that covers FICC, Equity and Prime Brokerage.  This person will provide a holistic risk point of view and assign strategic priorities and project work across the team.  This person will be the single point of contact for Audit and Regulatory exams and must be able to navigate across multiple FLU Executives and Senior Leaders.  This person will identify opportunities for efficient and effective practices across the GM FLUs and must also coordinate across GFC and GCOR given the impact of the work across multiple lines of business.  This requires both strategic and tactical level focus on details and the ability to communicate effectively as well as influence and impact partners across the Enterprise.

In this position, this leader will direct independent review and challenge of SPI and drive FLU to satisfy all identified challenges and issues, as well as participate in Regulatory Meetings and Exams representing the GM-US FLU. Additionally, this leader will represent Bank of America Securities in industry forums and attend/report out on regulatory developments that impact GM-US, escalate financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees and evaluate complex matters and recommend action plans to remediate issues.

Responsibilities:

• Set strategic direction and manage a group of subject matter experts for the various GM-US businesses

• Lead team in the identification of financial crimes risk and setting plans to mitigate identified risks

• Work independently to drive execution across the time but also be positioned to coordinate across GFC Risk Managers to drive consistency in practices across the teams

• Direct the development and implementation of financial crimes policies and standards with a particular focus on regulatory changes and developments

• Create and manage GFC Coverage Plan which defines the scope of coverage for GM-US

• Drafts and presents independent financial crimes risk management reporting to GCOR, Senior FLU leaders and legal entity Boards

• Create, Develop, establish and execute GFC, FLU and Enterprise risk tolerance metrics that are reflective of key risks in GM - US

• Monitor and evaluate regulatory changes applicable to Global Financial Crimes focusing specifically on Global Markets

• Lead discussions with the Financial Crimes Analytics Team to set focus for key risks and thematic reviews and set strategic direction for GFC automated detection tools per regulatory guidance issued by SEC/FINRA

• Determine targeted risk assessments, threat assessments and process understandings to be executed by the team focusing on new and emerging financial crimes risk.

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers