Global Financial Crimes Specialist - Emerging Risks and Public Policy

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!

This job is responsible for supporting the execution of substantive money laundering, economic sanctions and fraud compliance and operational risk practices. Key responsibilities include assisting Global Financial Crimes executives and managers with activities that support the identification, escalation and timely mitigation of compliance and operational risks in alignment with the Compliance and Operational Risk Management (CORM) Program, the Financial Crimes and Global Compliance - Enterprise Policies and the Enterprise Fraud Risk Management Standards.

The Global Financial Crimes Specialist - Emerging Risks and Public Policy position is an individual contributor role that will help lead the work of the Emerging Risks and Public Policy team. As part of the Anti-Money Laundering Act of 2020 (AML Act), the U.S. government has issued AML priorities. The AML Act requires that banks incorporate these priorities into their program and that supervisors examine banks based on how they have done so. Through its engagement with law enforcement, supervisory agencies, and industry counterparts, the Specialist will play a critical role in helping the Bank to understand emerging illicit finance trends as well as key threats in the priority areas, proactively sharing intelligence both internally and externally, and ultimately helping the Bank to demonstrate that it has been effective in providing highly useful information to law enforcement agencies. Additionally, the Emerging Risk and Public Policy Specialist may serve as an escalation point for other groups in the Bank for non-routine law enforcement related requests, support or participate in the Bank’s work in various public private partnerships, and develop and execute training for other groups across the Bank. 
 

Responsibilities:

• Conducting priority emerging risk reports and/or priority threat assessments and ensuring work that is a product of law enforcement engagement is fed into emerging risk reports and/or priority threat assessments, as well as, sharing the results of this work with relevant groups across the Bank and beyond, as appropriate. 

• Supporting proactive engagement with law enforcement to understand the latest trends and typologies in priority and other areas, escalating significant suspicious activity identified by the Bank, and obtaining feedback on the Bank’s work. 

• Working closely with the GFC financial crimes investigations teams to identify investigations within the AML priorities as well as emerging financial crimes risks. 

• Analyzing internal referrals and Suspicious Activity Reports (SARs) potential risks for relevant groups across the Bank, as well as public sector counterparts and industry groups, as appropriate. 

• Helping develop and execute training related to emerging risks and priority threats. 

• Supporting engagement with industry associations or other networking groups related to combatting financial crime and terrorist financing and participating in public-private sector partnerships. 

• Supports 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

• Assists in the production of independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders

• Assists in the monitoring of 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 require