Global Financial Crimes Specialist - Global Markets - U.S. and Global Markets Operations - U.S.

Bank of America

Bank of America

Accounting & Finance, Operations
New York, NY, USA · Charlotte, NC, USA · United States · Remote
Posted on Wednesday, June 19, 2024

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. 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.

This role is responsible specifically for supporting the execution of the Company's Global Financial Crimes (GFC) Program with a focus on reviewing activity in Global Markets – U.S. and Global Markets Operations – U.S. Key responsibilities include working closely with Global Financial Crimes executives and managers to 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 Policy and Standards. This individual will use various tools and data analytics skills to learn to detect, escalate and report potentially suspicious activity and manage the business of money laundering risk. This individual will be trained to identify potential trends and themes to further enhance the GFC’s financial crimes oversight of compliance and operational risk.

• Partner with business, operations and risk management teams to analyze business processes, internal controls, client behavior and transaction trends
• Identify potentially suspicious broker-dealer activity such as insider trading, market abuse/market manipulation and potentially unusual trading activity
• Participate in ad-hoc projects related to regulatory inquiries, trading and market moving news events (corporate scandals, regulatory actions, regulatory developments) and internal escalations
• Engage with the Financial Crimes Analytics Team to assist in the enhancement/development/build of GFC surveillance tools designed to identify/detect potentially suspicious activity associated with regulatory guidance issues by the SEC and FINRA
• Develop and execute monitoring routines and evaluate test results to identify potential trends, patterns or gaps in GFC oversight of the Global Financial Crimes Program
• Perform data analysis to assess front line unit (FLU) controls and identify opportunities improve the FLU control environment
• Conduct risk assessments, threat assessments and process understandings to identify new or emerging financial crimes risks
• Evaluate client selection, transaction monitoring and relationship closure recommendations and learn to communicate findings to senior leaders in order to influence business practices
• Assist in the production of independent financial crimes risk management reporting


  • 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

Required Qualifications
• Bachelors’ degree or equivalent relevant experience.
• 5+ Years working in anti-money laundering compliance, audit, risk or a process/controls focused position.
• Must be a self-motivated worker who is comfortable and effective working with varying levels of guidance.
• Strong personal drive, attention to detail, individual initiative, a sense of urgency and responsiveness, with a desire to grow, learn, and take on increasing levels of responsibility.
• Proven process design and project management skills.
• Proficient in Microsoft Office Products including advanced knowledge of Excel.

Desired Qualifications
• 1+ years of investment experience/work or good knowledge of investments/securities products and services.
• Certifications: ACAMS – Association of Certified Anti-Money Laundering Specialists
• Broker/Dealer industry experience


  • Critical Thinking

  • Monitoring, Surveillance, and Testing

  • Regulatory Compliance

  • Risk Management

  • Issue Management

  • Policies, Procedures, and Guidelines Management

  • Written Communications

  • Coaching

  • Reporting

  • Talent Development


1st shift (United States of America)

Hours Per Week: