Senior Analyst/Assistant Vice President - AML Refresh Quality Governance and Audit Exams - GB&GM Operations

Bank of America

Bank of America

IT, Operations, Quality Assurance
Singapore · United States · Remote
Posted on Wednesday, June 12, 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!

Your background

  • Knowledge of end-to-end CDD AML/KYC Corporate Experience

  • Experience in operational, risk, audit and compliance roles (preferred)

  • Control focused mindset and good understanding of regulatory and reputational risks

  • Excellent communications skills and ability to present to audience

  • Ability to work under pressure in a team environment

  • Ability to liaise with all levels of the firm and people with different experiences and backgrounds

  • Self-motivated

What you can expect

The GB & GM Anti-Money Laundering (AML) Remediation team performs AML Know-Your-Client/Client Due Diligence (KYC/CDD) for Global Banking and Markets clients of Bank of America Merrill Lynch. This team is part of the Refresh organization which oversees the quality aspect of completed Refresh (Periodic review) cases and review refresh cases from Compliance Testing, as well as Audit and Exams in the APAC region. In addition, the Team covers subsequent remediation arising from internal/external audit findings, and/or uplifts in AML Country Regulations.

The successful candidate is a strong, decisive, results oriented individual. He/she should possess high-level attention to details and has a strong risk management discipline with experience running operational risk processes.

What you will do

  • Provide support on Compliance Tests Results reviews, Regulatory Exams, Internal Audits and other reviews conducted.

  • Review monthly published QA results and analyze Failed Requirements and root causes to provide feedback to Refresh Analysts and Managers.

  • Perform drill down and investigation on background and history of refresh cases in accordance to AML KYC/CDD requirements.

  • Support remediation activities from AML KYC/CDD uplifts, regulatory audit exams, etc.

  • Assist with tracking, monitoring and reporting of action plan progress, evidence review and action steps closure

  • Perform data analytics to support senior leadership reporting and identification of thematic issues

  • Contributes to overall Refresh performance, drive process improvements and control performance sustainability

  • Identify and support efforts to automate and improve monitoring of Issue/Control Enhancement remediation

  • Liaise with internal teams to support KYC issues and resolution

  • Involvement in ad hoc projects for new processes or industry initiatives