hero






Assistant Vice President - AML Refresh Operations - Global Banking and Markets Operations

Bank of America

Bank of America

Operations
Taguig, Metro Manila, Philippines · United States · Remote
Posted on Thursday, June 27, 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!

Job Description:

The GB& GM Anti-Money Laundering (AML) team is part of the Global Operations organization and responsible for client AML/KYC refresh globally. The team supports the business in completing AML/KYC due diligence checks as well as maintaining client records. The associate will work within the AML Operations organization to support client AML/KYC Refresh and ensures quality completion, as well as support requests driven out of Audit and Exams on the region. The team covers 12 APAC jurisdictions, EMEA, US & Canada.

The candidate has to be strong, decisive, results oriented individual. He/she should possess a very high attention to detail and execute with high accuracy and timeliness, demonstrating high interest in driving operational excellence, investigations, and internal/external AML/CDD audits exams. Preferred Operational risk and compliance experience.

Key responsibilities include but are not limited to:

  • Review Refresh Requirements for assigned jurisdictions in line with related Client Identification Profile (CIP)/CDD Procedures to ensure adequacy and accuracy before the requirements are sent to Client.
  • Manage Refresh of Clients with multi-jurisdictions booking entities and of complex nature.
  • Escalation and issues management across Sales/ Business, Global Financial Crime Compliance (GFCC) and respective Service and Operations team.
  • Independently liaise with internal teams to support KYC issues and resolution – tactically and/or strategically.
  • Contributes to overall Refresh performance, achieves sustainable refresh quality and drive process improvements.
  • Tracks Annual refresh population and all other KYC related populations with Refresh Manager and in partnership with our Line of Business partners
  • Simplification & continuous improvement of AML/ KYC CDD experience keeping end client in sight.
  • Interact and maintain quality engagement with stakeholders regionally and globally.
  • Point of contact for Business & Management when matters require attention.
  • Provide support on Regulatory Exams, Internal Audits and other reviews conducted
  • Perform drill down and investigation on background and history of refresh cases
  • Participate in monitoring and investigation activities including review of refresh cases in accordance with AML KYC/CDD requirements
  • Involvement in ad hoc projects for new internal processes or industry initiatives.
  • Metrics Reporting & Support creation of key business metrics.
  • Late evening calls can be expected.

Key Requirements

  • Experience in similar role (preferred)
  • Control focused mindset and good understanding of regulatory and reputational risks - (knowledge of Asia Markets requirements a plus)
  • Excellent communications skills and ability to present to an audience.
  • Ability to work under pressure in a team environment.
  • Ability to liaise with all levels of the firm and people with different experiences and backgrounds.