GFC Specialist - Economic Sanctions

Back to search results GFC Specialist - Economic Sanctions Charlotte, North Carolina; Tampa, Florida Additional locations Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge Refer a friend Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge 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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits.We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.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.Global Economic Sanctions ("GES") is responsible for dedicated compliance and operational risk management of processes unique to economic sanctions.The Sanctions Risk Specialist is a function within GES that is responsible for the identification, aggregation, reporting, and escalation of sanction related risks. The Sanctions Risk Specialist is responsible for the execution of risk management responsibilities in areas such as sanctions advisory, issues management, and monitoring and testing from a sanctions compliance and risk perspective. This role is an individual contributor within the Sanctions Technology Oversight Team.The role will provide oversight of the Sanctions tools, data inventory and end-to-end sanctions data testing. As GFC monitoring covers all FLUs within the bank, this role will have the opportunity to gain exposure to multiple Bank products and systems. The Sanctions Risk Specialist may engage in the following processes to evaluate and assess FLU/CF controls, sanctions-specific second line functions and controls, and residual risks related to economic sanctions: Responsibilities:Provide oversight of sanctions compliance tools used in transactions and customer screening, including tool performance monitoringSupport governance around onboarding of new screening lists, screening list rules and list applicability across sanctions screening technologyCollaborate on data mapping, lineage tracing, and integrity checks across sanctions screening systemsParticipate in governance around changes to sanctions compliance tools, including documentation updates, requirement gathering, and system enhancement discussionsMonitor, test, and report on tool performance metrics and key controlsCoordinate with compliance, technology, and operations teams to support regulatory and audit requests with sanctions screening technologySupports the development and maintenance of financial crimes owned policies and standards, and reviews relevant Front Line Units/Control Functions-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressedAssists in the production of independent financial crimes risk management reporting to Global Compliance & Operational Risk (GC&OR) Senior Leaders and FLU/CF Senior LeadersAssists 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 neededContributes to risk coverage plans, executes independent risk monitoring, testing, and risk assessmentsSupports with escalating financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committeesAssists in the identification, aggregation, reporting, and escalation of the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimesAssists in the review of internal and external operational loss events, including the development of remediation plans to strengthen controls and providing oversight to ensure they are addressed appropriatelyRequired qualifications:Minimum of 5 years of relevant experience in financial services industry, risk management, financial crimes, testing, or related fieldBachelor's degree or equivalent experienceDesired qualifications:Experience in managing sanctions program issues and metricsAbility to handle multiple compliance projects in a dynamic environment with competing priorities across a global team settingExcellent business stakeholder management and communication skillsFinancial Services and/or related government entitySkills:Critical ThinkingMonitoring, Surveillance, and TestingRegulatory ComplianceRisk ManagementIssue ManagementPolicies, Procedures, and Guidelines ManagementWritten CommunicationsCoachingReportingTalent DevelopmentShift:1st shift (United States of America)Hours Per Week: 40 Learn more about this role Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge Refer a friend Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge Full time JR-26032720 Manages People: No Travel: Yes, 5% of the time Age requirement: Must at least be 18 years of age. Share: Save job Job saved