Global Financial Crimes Specialist

Bank of America

Bank of America

Accounting & Finance
Charlotte, NC, USA · Atlanta, GA, USA · Dallas, TX, USA · Chicago, IL, USA · Atlanta, GA, USA · Georgia, USA · Pennsylvania, USA · Arizona, USA · Scranton, PA, USA · Texas, USA · Chicago, IL, USA · Illinois, USA · Dallas, TX, USA · United States · Remote
Posted on Tuesday, January 30, 2024

Job Description:

Job Description

The Global Financial Crimes (“GFC”) Specialist, under supervision, assists Global Economic Sanctions executives and managers in support of the identification, escalation and timely mitigation of compliance and operational risks in alignment with the Compliance and Operational Risk Management (“CORM”) Program, and the Economic sanctions and Global Compliance - Enterprise Policies ("GC Policy”). The GFC Specialist contributes to the identification of themes and trends at the front-line unit, control function and enterprise level.

The GFC Specialist assists in engaging other Compliance and Operational Risk (“C&OR”) officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of Front-Line Unit/Control Function (“FLU/CF”) activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The GFC Specialist also assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

Global Economic Sanctions (“GES”) is responsible for dedicated compliance and operational risk management of processes unique to economic sanctions. The GFC Specialist is a function within GES that is responsible for the identification, aggregation, reporting, and escalation of sanction related risks. The GFC Specialist may engage in the following processes to evaluate and assess FLU/CF controls and residual risks related to economic sanctions:

Key Responsibilities:

  • Apply extensive knowledge of economic sanctions laws, rules and regulations to the design, implementation, and management of sanctions risk monitoring, testing, assessment, and analysis of FLU/CF processes.
  • Assists in the identification, aggregation, reporting, escalation, remediation, and thematic analysis of FLU/CF-owned audit Issues and Control Enhancements related to economic sanctions.
  • Assists in the escalation of economic sanctions related compliance and operational risks and Audit Issues to appropriate governance routines, management/board level committees.
  • Assists in the remediation of economic sanctions owned Audit Issues and Control Enhancements to ensure they are addressed appropriately and timely.
  • Assists with development of risk metrics, monitors related performance and breach remediation.
  • Assists in production of independent economic sanctions risk management reporting to Global Compliance & Operational Risk (“GC&OR”) Senior Leaders and FLU/CF Senior Leaders via established governance and management routines.
  • Assists in the review of relevant FLU/CF-owned policies and standards to ensure regulatory requirements and operational risks are sufficiently addressed.
  • Assists in the monitoring of changes in regulations applicable to GFC, including advising business leaders on those changes, directing appropriate areas to implement or amend policies, procedures and/or processes to address regulatory requirements, and challenging the implementation plan as needed.


  • Design, implement, and manage monitoring that identifies and evaluates sanction risks.
  • Evaluate and manage monitoring objectives and pertinent details in ORCIT.


  • Identify and develop point-in-time testing activities to evaluate sanctions risk.
  • Serve as test owner/test owner representative and maintain test plans/scripts in OCP.

Issue Management

  • Determine if Audit Issues or Control Enhancements are warranted based on oversight results.
  • Draft Risk Identified Audit Issues/CE when warranted.

Metrics and Reporting

  • Provide background/summary of reportable exceptions identified through oversight functions.
  • Provide background/summary of key matters identified via oversight functions to GFC management.
  • Communicate results to key stakeholders.

Risk Assessment

  • Execute or assist in executing economic sanctions periodic and/or targeted risk assessments.

Required Skills

  • 3+ years’ experience in economic sanctions
  • Prefer candidates with monitoring, testing, or quality assurance/quality control experience.
  • Ability to handle multiple projects in dynamic environment and global team setting.
  • Excellent business stakeholder management and communication skills.
  • Proficient in MS Office.
  • Prefer candidates with GFC/Economic Sanction application experience (e.g., FircoSoft, ORCIT, PEGA, ORACLE, NetReveal.


1st shift (United States of America)

Hours Per Week: