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Global Financial Crimes Manager - Economic Sanctions

New York, New York;, ; Tampa, Florida

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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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

This job is responsible for executing substantive economic sanctions compliance and operational risk practices. Key responsibilities include working directly or through compliance officers for the Front Line Units (FLUs) and Control Functions (CFs) to complete compliance, policy, operational risk management requirements.

Bank of America is seeking a highly motivated and detail-oriented professional to join our Global Financial Crimes team as a Global Financial Crimes Manager – Economic Sanctions. This individual contributor role will be responsible for providing subject matter expertise and advisory support on sanctions compliance matters to ensure the bank’s adherence to regulatory requirements and internal policies.

Responsibilities:

+ Provide guidance on sanctions-related matters, including compliance with OFAC, EU, UK, and other global sanctions regimes

+ Assess and advise on sanctions risks related to transactions, clients, products, and services

+ Conduct sanctions risk assessments and escalate potential sanctions violations to senior compliance leadership as needed

+ Support the development, implementation, and enhancement of sanctions compliance policies, procedures, and controls

+ Advise internal stakeholders, including business units and operations teams, on sanctions-related regulatory requirements and best practices

+ Review and analyze alerts, transactions, and investigations related to potential sanctions violations

+ Assist in regulatory inquiries, audits, and examinations related to sanctions compliance

+ Monitor and interpret regulatory developments, enforcement actions, and industry trends to enhance the bank’s sanctions compliance framework

+ Collaborate with other compliance, legal, and risk management teams to ensure a coordinated approach to sanctions compliance

+ Contribute to training programs and awareness initiatives to promote a strong sanctions compliance culture across the organization

+ Advise and direct the development and maintenance of financial crimes owned policies and standards, and review relevant FLU/CF-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed

+ Produce and/or oversee independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior Leaders

+ Monitor the changes in sanctions laws and regulations, 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

+ Participate in industry forums and monitor regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers to identify and mitigate emerging risks

+ Escalate sanctions-related compliance and operational risks and issues to appropriate governance routines, management/board level committees

+ Identify, aggregate, report, escalate, inspect, and challenge the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to sanctions

Required Qualifications:

+ Minimum of seven years of relevant experience

+ 5+ years of experience in sanctions compliance or a related risk management role within the financial services industry

+ Strong knowledge of U.S. and international sanctions laws, including OFAC regulations, EU and UK sanctions, and other relevant global frameworks

+ Familiarity with sanctions screening tools, investigative techniques, and risk assessment methodologies

+ Strong analytical and problem-solving skills, with the ability to assess complex issues and provide clear recommendations

+ Excellent written and verbal communication skills, with the ability to interact effectively with stakeholders at all levels

+ Knowledge of anti-money laundering (AML) and related AML legislation

Desired Qualifications:

+ Bachelor’s Degree in Finance, Business, Law, International Relations, or a related field (Master’s or JD preferred)

+ Experience in financial services and/or a related government entity

+ Relevant certifications (e.g., CAMS, CGSS, or similar)

Skills:

+ Regulatory Compliance

+ Monitoring, Surveillance, and Testing

+ Critical Thinking

+ Risk Management

+ Issue Management

+ Policies, Procedures, and Guidelines Management

+ Strategy Planning and Development

+ Coaching

+ Written Communications

+ Reporting

+ External Resource Management

+ Talent Development

Preferred Technical Skills:

+ Data Analysis, Interpretation & Decisioning

+ Issues Management & Resolution

+ Risk Identification & Assessment

+ Risk Monitoring & Testing

+ Products, Services & Acumen - Line of Business (LoB) - GFC

+ AML Regulatory Knowledge

+ Enhanced Due Diligence

+ Financial Crimes Risk Principles

+ Threat Assessment

+ Legal Expertise

+ Policy Analysis and Development

+ Political Awareness

+ Sanctions Principles

+ Screening Process Adherence

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.