Global Financial Crimes Specialist – Global Economic Sanctions
| Company | Bank of America |
|---|---|
| Location | Charlotte, NC, USA, New York, NY, USA |
| Salary | $75000 – $106200 |
| Type | Full-Time |
| Degrees | Bachelor’s |
| Experience Level | Senior |
Requirements
- Minimum of 5 years of relevant experience
- Degree required: Bachelor’s degree in Finance, Business, Law, International Relations, or a related field (Master’s or JD preferred) or equivalent experience
- 3+ years of experience in financial crimes compliance, sanctions compliance, or a related risk management role within the financial services industry.
- Strong knowledge of U.S. and international sanctions laws, including OFAC regulations, EU and UK sanctions, and other relevant global frameworks.
- Experience advising on sanctions risk in a complex financial institution.
- Familiarity with sanctions screening tools, investigative techniques, and risk assessment methodologies.
- Strong analytical and problem-solving skills, with the ability to assess complex issues and provide clear recommendations.
- Excellent written and verbal communication skills, with the ability to interact effectively with stakeholders at all levels.
- Relevant certifications (e.g., CAMS, CGSS, or similar) are a plus.
Responsibilities
- Provide guidance on sanctions-related matters, including compliance with OFAC, EU, UK, and other global sanctions regimes.
- Assess and advise on sanctions risks related to transactions, clients, products, and services.
- Conduct sanctions risk assessments and escalate potential sanctions violations to senior compliance leadership as needed.
- Support the development, implementation, and enhancement of sanctions compliance policies, procedures, and controls.
- Advise internal stakeholders, including business units and operations teams, on sanctions-related regulatory requirements and best practices.
- Review and analyze alerts, transactions, and investigations related to potential sanctions violations.
- Assist in regulatory inquiries, audits, and examinations related to sanctions compliance.
- Monitor and interpret regulatory developments, enforcement actions, and industry trends to enhance the bank’s sanctions compliance framework.
- Collaborate with other compliance, legal, and risk management teams to ensure a coordinated approach to sanctions compliance.
- Contribute to training programs and awareness initiatives to promote a strong sanctions compliance culture across the organization.
- 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 requirements, and challenging the implementation plan as needed.
- Contributes to risk coverage plans, executes independent risk monitoring, testing, and risk assessments.
- Supports with escalating financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees.
- Assists in the identification, aggregation, reporting, and escalation of the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes.
- Assists in the review of internal and external operational loss events, including the development of remediation plans to strengthen controls and providing oversight to ensure they are addressed appropriately.
Preferred Qualifications
- Financial Services and/or related government entity