Global Financial Crimes Specialist

Bank of America

Bank of America

Accounting & Finance
Charlotte, NC, USA · New York, NY, USA · Jersey City, NJ, USA · United States · Remote
Posted on Wednesday, May 22, 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:

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.

The Global Financial Crimes (“GFC”) Specialist role will support the execution of the Company’s Global Financial Crimes Risk program. The role will be focused on reviewing activity in Global Markets – Bank of America Securities (“BofAS), and Global Wealth Investment Management – Merrill Lynch, Pierce, Fenner & Smith (“MLPFS”) as well as Bank of America Private Bank and Consumer Investments/Merrill Edge. The team will focus on detecting, escalating and reporting potential suspicious activity to meet BSA regulatory expectations as well as support internal policy requirements., The candidate will use various tools and data analysis to identify, escalate and mitigate risks associated with Anti-Money Laundering (“AML”), such as insider trading, market manipulation and other specified unlawful activities under the Bank Secrecy Act (“BSA”).

The GFC Specialist will engage with Global Financial Crimes Risk Managers, Financial Crimes Investigators, Compliance and Operational Risk (“C&OR”) officers and Control Partners to identify potential trends and themes to further develop and enhance our financial crimes oversight.
Activities this role performs include, but are not limited to:


  • 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
  • Identify potential insider trading and market abuse/market manipulation through surveillances and analysis of trading activity
  • Executing monitoring routines and evaluating test results to identify potential trends, patterns or gaps in GFC oversight of the financial crimes program
  • Conducting risk assessments and threat assessments to identify new or emerging financial crimes risks

Required Qualifications:

  • College degree OR equivalent working experience in Self-Regulatory Organization/Government Entity experience
  • Ability to use Microsoft Excel (VLOOKUP and Pivot tables) and Power Point applications

Desired Qualifications:

  • Ability to analyze data using SQL
  • CAM Certification
  • Audit and/or Economic Sanctions experience
  • CFE Certification
  • Investigations skills and strong interest in data analytics
  • Proficient with large data sets and ability to manipulate data for presentations to Senior Leadership
  • Series 7, 63 or Securities Industry Essentials (SIE) Exam


  • Regulatory Compliance
  • Monitoring, Surveillance, and Testing
  • Critical Thinking
  • Risk Management
  • Issue Management
  • Policies, Procedures, and Guidelines Management
  • Written Communications
  • Talent Development
  • Coaching
  • Reporting


1st shift (United States of America)

Hours Per Week: