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 sits within the front line Business Controls team in Global Payment Solutions (GPS) and is responsible for leading and designing the strategy related to financial crimes compliance within the GPS business. Key responsibilities include ensuring capabilities are in place to drive the day-to-day execution of the Operational Risk Management Framework, including the implementation of LOB specific processes and tools to drive adherence to regulatory requirements and enterprise-wide standards & policies related to financial crimes. Job expectations include providing oversight and establishing effective quality assurance and control processes.

Required skills: Must have these skills to be minimally qualified

* Minimum of 10 years experience in the payments industry, international, and GFC experience

Responsibilities:

• Engages with stakeholders to identify issues related to financial crimes and assures action plans & control improvements for issue resolution
• Demonstrates broad understanding of the GPS business including International payments and new payments rails like real time payments, pay by bank, pay to card and virtual accounts management.
• Work closely with control partners in Compliance to ensure two-way communication of business capabilities and regulatory adherence
• Have good understanding of regulatory requirements related to economic sanctions and AML screening of transactions and relationships
• Provide oversight on fraud monitoring including understanding and compliance with regulatory requirements across the globe where GPS provides services
• Have basic understanding of payment related data flows and associated data quality challenges vis-à-vis Banking Secrecy Act (BSA) and travel rule requirements
• Oversees the assessment of the design and effectiveness of the risk and control environment to ensure adherence to enterprise-wide standards
• Oversees the implementation of optimized controls and enhanced Quality Assurance (QA) practices to support business efforts
• Oversees GPS responses for regulatory exams, internal audits, and other monitoring and inspection reviews related to financial crimes
• Active participation in the key governance forums including Business Control Forums, Regulatory Initiative forums, Product & Sales level governance forums
• Acts as an ambassador of the risk culture, monitoring and reporting on the Line of Business or Enterprise Control Function's Operational Risk Profile
• Bachelor's degree preferred or relevant work experience

Required Skills:

• Controls Management
• Payments product knowledge
• Financial Crimes regulatory requirements
• Oral Communications
• Risk Management
• Stakeholder Management
• Strategy Planning and Development
• Continuous Improvement
• Drives Engagement
• Influence
• Strategic Thinking
• Data and Trend Analysis
• Decision Making
• Problem Solving
• Quality Assurance

This job is responsible for leading a function dedicated to designing a strategy to drive internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include ensuring capabilities are in place to drive the day-to-day execution of the Operational Risk Management Framework, including the implementation of LOB and ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include providing oversight and establishing effective quality assurance and control processes.

Responsibilities:

• Engages with stakeholders to identify issues and control improvements for remediation and ensures issue resolution
• Acts as an ambassador of the risk culture, monitoring and reporting on the Line of Business or Enterprise Control Function's Operational Risk Profile
• Oversees the assessment of the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
• Oversees the implementation of optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
• Ensures timely execution of QA activities including control execution, case management, and results reporting
• Oversees all operations front line unit responses for regulatory exams, internal audits, and other monitoring and inspection reviews

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.

• Opportunity & Inclusion Champion: Breaks down barriers to create a more inclusive environment that supports company Great Place to Work goals.
• Manager of Process & Data: Challenges end-to-end process efficiency and effectiveness, champion data driven decision-making and removes obstacles to optimize operations.
• Enterprise Advocate & Communicator: Contributes to enterprise strategy and influence messaging to connect team contributions to business purpose, results, and success.
• Risk Manager: Inspects and challenges risk controls, governance and culture to ensure the timely identification, escalation, debate and remediation of risk across the organization.
• People Manager & Coach: Coaches to sustain and elevates organizational performance while differentiating to ensure pay for performance.
• Financial Steward: Efficiently allocates and manages resources across the organization to drive short and long term profitability.
• Enterprise Talent Leader: Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs.
• Driver of Business Outcomes: Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage.

Skills:

• Controls Management
• Oral Communications
• Risk Management
• Stakeholder Management
• Strategy Planning and Development
• Continuous Improvement
• Drives Engagement
• Influence
• Strategic Thinking
• Talent Development
• Data and Trend Analysis
• Decision Making
• Problem Solving
• Quality Assurance

Shift:

Hours Per Week: 

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