Global Financial Crimes Specialist- Global Economic Sanctions

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This team advises and directs 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 specific to sanctions.

This individual is responsible for executing substantive economic sanctions compliance and operational risk practices in any sanctions-related matters requiring input, assisting Global Economic Sanctions (GES) executives. This individual will establish and maintain relationships with key stakeholders within the Front Line Units (FLUs) and Control Functions (CFs), GFC risk executives and managers, and internal audit using effective influence skills; and engage in external regulatory interactions.

Responsibilities:

• Advises and directs 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 specific to sanctions.
• Produces and/or oversees independent sanctions related risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders.
• Monitors the changes in regulations applicable to sanctions, 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.
• Participates in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation, and key influencers to identify and mitigate emerging sanction risks.
• Escalates sanctions related compliance and operational risks and issues to appropriate governance routines, management/board level committees.
• Identifies, aggregates, reports, escalates, inspects, and challenges the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to sanctions.
• Reviews and challenges internal and external operational loss events, including the development of remediation plans to strengthen controls and providing oversight to ensure they are addressed appropriately.
• Draft and maintain sanctions-related Risk Assessments in alignment with the GFC Enterprise Policy, Standard, and Risk Assessment Methodology.
• Input into sanctions related risk assessments and leverage available data and analytical tools during the planning, execution, and oversight of the risk assessment process as applicable.
• Support the drafting and execution of actions plans to prepare for any regulatory deliverables and exams.
• Support the drafting and respond to regulatory partners working with other GES colleagues on voluntary sanctions self-disclosures, subpoenas, and license requests.

What we are looking for:

• Demonstrable sanctions experience
• Demonstrable business and functional experience
• Regulatory Compliance Experience
• Risk Management Experience
• Policies, Procedures, and Guidelines Management
• Strategy Planning and Development
• External Resource Management
• Reporting Experience
• Bachelor’s or equivalent experience

Skills that will help:

• Financial Services and/or related government entity
• JD or advanced degree preferred
• Legal background (law firm or other) valuable

Benefits of working at Bank of America:

• UK Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum
• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
• Access to an emotional wellbeing helpline, mental health first aiders, and virtual GP services.
• Access to an Employee Assistance Program for confidential support and help for everyday matters
• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America: Good conduct and sound judgment is crucial to our long-term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well. We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications, and experience. We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.