Job Description:
About Us
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.
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Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
Job Description
The purpose of the job is to report and analyze data around completeness and accuracy of the "Know Your Customer" data and information that is collected on our clients and to ensure compliance with Anti-Money Laundering policies and procedures. In addition, this job is to ensure that the appropriate Risk related activities are preformed based on the analysis of that client data and in accordance with AML policies. This information is critical in our efforts to comply with internal risk avoidance efforts and external compliance requirements.
Responsibilities
- Effectively manage processes for the client, ensuring a high level of operational delivery to customers. Maintain day to day client relationship activities and provide input, preparation, and support to team members.
- May provide recommendations to ensure that the process (from preparation to approval) is equipped with the appropriate checks and balances to ensure accuracy.
- Serves as the escalation point for issues regarding client profiles, keeping leadership apprised of potential areas of concern. Collaborates with internal stakeholders from other functions to help coordinate AML/KYC/Prevention procedures and policies in overall compliance strategy.
- Communicates with internal stakeholders like Global Financial Crime, MLRO's and external stakeholders like sales/FLU to resolve any issues during client Onboarding.
- Review Complex client structure and provide guidance to the AML Ops team to ensure all requirement are accurately met. Maintain a current understanding of global issues, risk and events that could affect a client risk level.
- Provide on-the-ground expertise on Client Due Diligence requirements (global jurisdictions) as well as Quality Assurance Process. Day to day ongoing coaching deliver and Review QA/QC results from Quality Control team associates and address the team's training deficiencies noted.
- Keep Leadership apprised of up-to-date status of Legal Entities, and which may go for potential escalations and Reporting of issues of concern to Operations Support, Senior Leadership
- Oversee the work of Team to ensure it of the highest Quality standards, ensure that the team operates efficiently adheres to Policy & Procedures
- Serve as a first point of contact in an event of any Query comes from regulatory/internal control audit team.
- Raise Rebuttal request on the system portal post discussion with team member in case of any incorrect defect marked by Internal Quality Team
- Demonstrate flexibility to manage activities across sites as required and Manage client and cross site team contacts effectively.
- Lead/Share insights and subsequent action plans on daily/weekly/monthly calls e.g., operations call, Risk Call, Productivity calls, etc.
- Taking exceptional calls where there is a challenge in obtaining the requirement from client and help with the 4 - eye check.
Requirements
Foundational skills
Knowledge on AML KYC & basics of Client due diligence
Knowledge on Banking & markets
Basic Understanding of Enhanced due diligence
Strong Communication Skills
Good Email Writing Skills
Desired skills
Familiarity with Global Banking and market products an advantage Knowledgeable of regulatory environment, risk framework, policies & standards.
Technical skills in excel.
Job Location
Hyderabad
Campus Hiring Eligibility for students is as listed below:
- Final year Graduates from the Class of 2024 ONLY
- Must Have Specialization in Finance ONLY
- Must have scored 60% in the last semester OR CGPA of 6 on a scale of 10 in the last semester.
- No Active Backlogs in any of the semesters
- Students should be willing to join any of the roles/skills/segment.
- Students should be willing to work in any shifts.
- Students should be willing to work in any locations namely - Mumbai, Chennai, Gurugram, Gandhinagar (GIFT), Hyderabad.