Description

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.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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.

Responsibilities:

• Support execution of the financial crimes program in the Asia Pacific region, including but not limited to regulatory change, financial crimes policies and procedures management, risk assessments, issue management, monitoring and testing as well as any global or regional driven initiatives and projects, with specific focus on North Asia.
• Good understanding of the China Fraud regulations
• Good understanding of regulations in the Asia Pacific region, with specific focus on China AML/CFT/Sanctions regulations.
• Supports the coordination and review of Front-Line Unit escalations on financial crimes inquiries, risks, and concerns, including but not limited to deals, new products and customer due diligence in Asia Pacific region, with specific focus on North Asia.
• Supports the development and maintenance of financial crimes owned policies and standards including Fraud policy, 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, including the development of remediation plans to strengthen controls and providing oversight to ensure they are addressed appropriately.

Required Skills:

• Stakeholder Engagement, across all working levels including senior management
• Regulatory Compliance
• Monitoring, Surveillance, and Testing
• Critical Thinking
• Risk Management
• Issue Management
• Policies, Procedures, and Guidelines Management
• Written Communications
• Talent Development
• Coaching
• Reporting

Minimum Education Requirement:

• University/college degree OR equivalent working experience in Self-Regulatory Organization/Government Entity experience