Job Description:

The Global Financial Crimes (“GFC”) Manager executes substantive money laundering, economic sanctions and fraud compliance and operational risk practices relevant to the manager's specific area of responsibility. The GFC Manager is accountable for the requirements of the Global Compliance and Financial Crimes Enterprise Policies, Compliance and Operational Risk Management Program (“CORM Program”), the Global Compliance - Enterprise Policy, the Operational Risk Management – Enterprise Policy (collectively “the Policies”) and the Enterprise Fraud Risk Management Standard and works directly or through compliance officers for the Front Line Units (“FLUs”) and Control Functions (“CFs”) to complete those requirements.

The GFC Manager proactively engages with other Chief Compliance and Operational Risk (“C&OR”) officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role develops and maintains a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The GFC Manager prepares materials for C&OR regulatory exams/audits/inquiries and may provide consultation to business leaders in preparation for FLU/CF regulatory exams/audits/inquiries. The GFC Manager also contributes as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team or may act as an individual contributor.

Activities this role performs include, but are not limited to:

• Produces and/or oversees independent financial crimes risk management reporting to Global Compliance & Operational Risk (“GC&OR”) Senior Leaders and FLU/CF Senior Leaders via established governance and management routines
• Participates in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers (trade associations, PACs, lobbyists, consumer groups, and media) in the EAC subject area to identify and mitigate emerging risks
• Identifies regulatory training needs and provides subject matter expertise to support the development of training curriculum
• Advises and directs the development and maintenance of financial crimes owned policies and standards and the review of relevant FLU/CF-owned policies and standards to ensure that regulatory requirements and operational risks are appropriately addressed
• Monitors the changes in regulations applicable to Global Financial Crimes, including advising business leaders on those changes, 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; ensures a comprehensive regulatory inventory
• Identifies, aggregates, reports, escalates, inspects and challenges the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes
• Escalates financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees
• Responsible for the remediation of financial crimes related C&OR “owned” issues and control enhancements to ensure they are addressed appropriately and timely
• Participates in the development and maintenance of the global financial crimes coverage plan which defines the scope and risk-based focus of the second line’s risk management activities and/or oversees execution of monitoring, testing, and risk assessments, communicate results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
• Reviews and challenges internal and external operational loss events, including development of remediation plans to strengthen controls, and approves where appropriate
• Participates in Scenario Analysis activities for coverage areas and challenges as appropriate
• Ensures metrics are designed to measure key risks and control performance, monitors and reports on metric performance and breach remediation

Additional activities may include:
• Partners in the filing of all regulatory reports for the Company related to Financial Crimes
• This role may have Money Laundering Reporting Officer responsibilities

Required Skills: Minimum Years Business & Functional Experience: 7 Years
Degree Required: Bachelor’s degree or equivalent experience

Desired Skills: Financial Services and/or related government entity

Job Description Summary
The Global Financial Crimes Data Scientist under supervision, assists Global Financial Crimes executives and managers in 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 (GC Policy), and the Enterprise Fraud Risk Management Policy.

Job Description

The Global Financial Crimes (“GFC”) Data Scientist under supervision, assists Global Financial Crimes executives and managers in any of the following activities in support of 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 ("GC Policy”), and the Enterprise Fraud Risk Management Policy:

• Create and maintain a regulatory inventory.
• Update relevant policies to ensure they reflect regulatory requirements for Financial Crimes.
• Conduct risk assessments, scenario analysis, and ops loss analysis
• Contribute to monitoring and testing coverage plans and related metrics.
• Contribute to the identification, collection, validation and recording of internal loss events and “near misses”. Contribute to root cause analyses on internal loss events and develop remediation plans to strengthen controls.
• Contribute to identification, review and documentation of relevant external loss events.
• Monitor and test the effectiveness of the front line unit and control function compliance and operational risk controls.
• Execute governance and management routines.
• Identify aggregate, report and escalate compliance and operational risks, issues and control enhancements.
• Identify compliance and operational risk training needs and inspect Front Line Unit (“FLU”), Control Function (“CF”) and third party participation for Financial Crimes.
• Assist with preparations for and participate in regulatory exams and audits for Financial Crimes.
• Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
• Escalate regulatory relations concerns to GFC Compliance Manager or Executive.

Required Skills:
• 5+ Years 
• Must be a self-motivated worker who is comfortable and effective working with varying levels of guidance
• Proficient in Microsoft Office Products including advanced knowledge of Excel
• SQL (ideally Teradata SQL)
• SAS
• Experience with proprietary BofA ADS environments, such as THOR and BaseView
 

Shift:

Hours Per Week: