Description
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.
This second line role within Global Financial Crimes Compliance will play a critical role in supporting the Bank's Anti-Money Laundering (AML) and Financial Crime Compliance program.
The role works closely with the MLRO to investigate into complex financial crimes cases that may require reporting of suspicious activity.
The role is also responsible for conducting post-investigation reviews and case closure assessments to identify root causes, emerging financial crime risks, control gaps, and thematic trends.
Insights from these reviews will be used to recommend enhancements to AML controls, monitoring scenarios, customer due diligence processes, and risk management practices to strengthen the effectiveness of the AML program.
The role also includes managing and investigating into complex financial crime cases escalated to the MLROs, assess suspicious activity, and prepare and submit Suspicious Transaction Reports (STRs) to the relevant regulatory and law enforcement authorities.
In addition, the role will support broader AML risk management and governance activities in Asia Pacific (APAC), including financial crime risk assessments, regulatory change implementation, policy and procedure enhancements, management reporting, and regulatory examination support.
The successful candidate will work closely with business, operations, compliance, and regional stakeholders to ensure financial crime risks are appropriately identified, assessed, managed, and escalated, while contributing to the continuous improvement of the Bank's AML and Financial Crime Compliance framework.
Responsibilities:
- Conduct end-to-end investigations of AML and financial crime cases escalated to the MLRO.
- Assess suspicious activity and determine reportability in accordance with applicable laws, regulations, and internal policies.
- Draft, review, and file STRs with relevant authorities in a timely and accurate manner.
- Provide guidance and challenge to stakeholders on financial crime risk matters, investigation outcomes, and reporting obligations.
- Conduct post-investigation reviews and case closure assessments to identify root causes, control weaknesses, emerging risks, and thematic financial crime trends.
- Recommend and support implementation of enhancements to AML controls, transaction monitoring, customer due diligence processes, and investigation procedures based on lessons learned from completed cases.
- Track and report recurring themes, risk indicators, and regulatory concerns arising from investigations to support MLRO oversight and ongoing program improvement.
- Support AML risk management activities, including Customer Risk Assessments (CRA), enterprise financial crime risk assessments, and thematic reviews.
- Monitor emerging AML, sanctions, fraud, and financial crime risks and recommend appropriate mitigating actions.
- Support regulatory examinations, internal audits, and responses to regulatory inquiries.
- Assist in the development, enhancement, and implementation of AML policies, procedures, controls, and governance frameworks.
- Prepare management reporting and risk metrics to support MLRO oversight and decision-making.
- Partner with local, regional, and global stakeholders to ensure compliance with regulatory requirements and enterprise financial crime standards.
- Escalating financial crimes concerns to the Global Financial Crimes Manager or Executive.
Required Skills:
- 10+ Years of relevant work experience in Anti-Money Laundering, Fraud and/or Economic Sanctions
- Ability to read and interpret regulatory guidance
- Strong written and verbal communication skills and the ability to communicate and work with all levels within the organization
- Sound risk management skills and an ability to apply discernment, take decisions when required and to escalate concerns when necessary
- Must possess excellent time-management, problem solving, and critical thinking capabilities
- Ability to handle multiple projects in a dynamic environment Proficiency with MS Office programs – including strong Excel expertise and Copilot
- Ability to work across a matrix organization
Desired Skills:
- Subject matter knowledge and experience in financial crimes compliance
- Certified Anti-Money Laundering Specialist (CAMS) certification;
- Understanding of Banking products and Financial Crimes vulnerabilities
- Bachelor's Degree