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Audit Supervisor : Global Financial Crimes - Economic Sanctions

Bank of America

Bank of America

Accounting & Finance, People & HR, Operations
Charlotte, NC, USA · Boston, MA, USA · Concord, NH, USA · Hartford, CT, USA · Providence, RI, USA · Hartford, CT, USA · Boston, MA, USA · Connecticut, USA · Dallas, TX, USA · Texas, USA · Massachusetts, USA · Rhode Island, USA · Wilmington, DE, USA · Delaware, USA · United States · Remote
Posted on Friday, May 24, 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 independently performing test work during highly complex audit activities for Lines of Business (LOBs). Key responsibilities include independently designing and executing audit tests, assessing issues for business impact and recommending severity ratings, and establishing business partner relationships. Job expectations include evaluating the control environment, fostering an inclusive work environment, applying product, business, and technical expertise, and supporting team members with development.

Executes the assigned areas of audit work, providing day to day coaching and guidance to teammates. Executes audit strategy for the sound application of risk based auditing by defining audit scope, audit program, and test procedures. Demonstrates strategic thinking and supports change. Delivers timely audit work within quality standards and conformance to audit policies and procedures. Assesses issues for impact to business processes, controls and strategies, recommends severity ratings and escalation of broad themes or trends. Drafts quality and timely audit issues and reports.. Exercises critical thinking and judgment to effectively influence management to improve the control environment. When leading an audit engagement, is responsible for day to day coaching, mentoring, and performance feedback. Fosters an inclusive work environment.

Responsibilities:

  • Executes audit strategy for the sound application of risk-based auditing by defining audit scope and audit programs, and leverages automation and innovative methods in a timely and high quality manner
  • Exercises sound knowledge of product, business, and technical expertise to effectively challenge management to improve the control environment
  • Assesses impacts to business processes, controls, and strategies to provide recommendations on severity ratings
  • Provides input on draft audit reports and shares audit results with business leaders
  • Supports the development of peers and teams through on-the-job-training and fosters an inclusive work environment
  • Establishes business partner relationships, primarily with line management, to develop business knowledge
  • Uses innovative tools to complete audit activities more efficiently (e.g., testing)
  • Experience with economic sanctions related risks and a solid business understanding of financial services industry, especially those associated with correspondent banking, corporate banking, treasury management and capital markets conducting sanctions reviews.
  • Perform sanctions audits at the enterprise level as well as other diverse lines of business and specialty areas;
  • Experience in US financial crime regulations including OFAC,
  • Support the execution of sanctions audit as well as regulatory and partner exams by creating presentation materials and providing timely responses to inquiries.
  • Design and perform compliance audit procedures, including identifying and defining issues, reviewing and analyzing evidence, and documenting processes;
  • Leverage available data and analytical tools during the planning, fieldwork, and reporting phases of audit delivery;
  • Communicate the results of audit projects to management (written reports/oral presentations);
  • Establish and build working relationships with internal and external management;
  • Perform sanctions risk assessments of business activities, potential risks exposures, and materiality of loss; and
  • Demonstrates experience in managing integrated internal audit and assurance delivery.
  • Effective influence skills in communicating findings. This individual must be an articulate and effective communicator, both verbally and in writing.
  • Strong interpersonal skills for interfacing with all levels of internal and external audit and management.

Required Skills & Experience:

  • Analytical Thinking
  • Audit Planning
  • Internal Audit Review
  • Issue Management
  • Risk Management
  • Attention to Detail
  • Automation
  • Business Acumen
  • Project Management
  • Technical Documentation
  • Coaching
  • Critical Thinking
  • Relationship Building
  • Written Communications
  • Minimum 3 years of audit experience in areas related to AML, sanctions and fraud risk management programs and regulations, banking regulations, local standards, and internal policies, or
  • Minimum 3 years of experience conducting Economic Sanction audits, Risk Management audits, Compliance audits or a combination, or
  • Minimum of 3 years experience in Audit, Compliance, Risk, Business Controls, or other related experience
  • Excellent project management, interpersonal, oral and written communication skills; strong attention to detail and accuracy
  • Exceptional analytical and critical thinking abilities; Able to develop and convey a point of view
  • Professionalism, dependability, integrity and trustworthiness combined with a cooperative attitude. Able to thrive in a dynamic team environment
  • Highly motivated self-starter with ability to multitask and complete assignments within time constraints and deadlines. Individual with desire to learn and teach others, high energy, positive attitude
  • Proficiency in Microsoft Office products

Desired Skills and Experience:

  • Master's Degree in Auditing, Master's Degree in Accounting, Master's Degree in Finance, or Master of Business Administration
  • Certified Anti-Money Laundering Specialist (CAMS), Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Certified Regulatory Compliance Manager (CRCM), or Certified Fraud Examiner (CFE)

Minimum Education Requirement:

  • Bachelor's Degree

Shift:

1st shift (United States of America)

Hours Per Week:

40