Global Financial Crimes Manager - Economic Sanctions

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

• 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

• 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)

• 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

• 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