hero

Workforce Innovation Center Career Board

Leverage our network to build your career. Find companies that you will love to work for that have the benefits and perks you need.

Explore the careers Cincinnati USA Regional Chamber Members have to offer.
87
companies
9,688
Jobs

Senior Audit Manager - (BSA/AML including Sanctions)

Bank of America

Bank of America

Multiple locations
Posted on Wednesday, November 15, 2023

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.  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.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Accountable for auditing moderate to complex businesses ranging in scale and scope. Implements and communicates Corporate Audits mission, goals, and strategies. Responsible for developing an audit plan for assigned areas of responsibility including proper assessment and coverage of risks, including emerging risks. Demonstrates critical thinking, strategic mindset and leads and supports change. Executes assigned components of the audit plan in a timely manner, within quality standards and in conformance to audit policies and procedures. Assesses issues for impact to business processes, controls, and strategies, assigns severity ratings and escalates broad themes or trends. Produces quality and timely audit reports that summarize results of an audit to management. Manages business partner relationships for areas of responsibility, primary engagement with line management. Exercises critical thinking and judgment to effectively influence management to improve the control environment. Participates in communication with regulatory agencies. Manages performance of the team, including expense management. Provides effective and frequent coaching and development to assigned audit team. Responsible for development, retention, and personnel management issues. Fosters an inclusive work environment.

Responsibilities

  • Subject matter expertise of BSA/AML and Fraud related risks and a solid business understanding of application of these risks within a large financial institution.  Knowledge of key business segments including retail, banking, capital markets, etc.

  • Plan, perform, and lead BSA/AML Compliance and Fraud audits at the enterprise level as well as other diverse lines of business and specialty areas

  • Subject matter expertise in US financial crime regulations including the Bank Secrecy Act/Anti-Money Laundering, Sanctions (e.g., OFAC)

  • Support the execution of the annual BSA independent audit as well as regulatory and partner exams by creating presentation materials and providing timely responses to inquiries.

  • Manage staff during audit engagements and provide feedback on work performed.

  • Design and perform compliance audit procedures, including identifying and defining issues, reviewing and analyzing evidence, and documenting processes.

  • Challenge LOB to ensure that the remediation is comprehensive and sustainable

  • Leverage risk mindset and influence LOB leaders to drive proper remediation of regulatory gaps

  • As required, engage with regulators to walk through validation work

  • Develop test plans designed to address the risk and root cause of the issue

  • Reviewing the work performed by their team including coaching associates

  • Work with leadership to effectively prioritize issues that may be past due or high risk

  • Effectively manage time to complete assigned issues within a reasonable timeframe

  • Proactively communicate status, escalate challenges and findings

  • Establish and maintain business partner relationships

  • Actively support peers and broader team during issue validation and other work

Required Skills & Experiences

  • Bachelors’ Degree or equivalent years of experience

  • Minimum 10-15 years in Financial Crimes related roles.

  • Audit, Risk or Compliance experience in Financial Institutions.

  • Strong understanding of technology, general controls, and other controls

  • Sound organizational, analytical, oral, and written communication skills including ability to effectively write reports, present to management and various regulators.

  • Ability to work in a matrix reporting structure.

  • Ability to successfully communicate to influence management and lead change on both strategic and tactical initiatives.

  • Excellent interpersonal skills.

  • Ability to effectively interact with diverse teams.

  • Sound organizational, analytical, oral, and written communication skills including ability to effectively document issue validation

  • Understanding of audit practices and methodologies as well as rules for professional and ethical conduct.

  • Ability to think critically and apply audit and technical expertise.

Desired Skills and Experience

  • Certified Anti-Money Laundering Specialist (CAMS) or Certified Fraud Examiner (CFE)

  • Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Certified Regulatory Compliance Manager (CRCM),

  • Audit / Assurance or operational experience in large scale enterprise environment / financial institution.

Job Code Summary:

Accountable for auditing moderate to complex businesses ranging in scale and scope. Implements and communicates Corporate Audits mission, goals and strategies. Responsible for developing an audit plan for assigned areas of responsibility including proper assessment and coverage of risks, including emerging risks. Demonstrates critical thinking, strategic mindset and leads and supports change. Executes assigned components of the audit plan in a timely manner, within quality standards and in conformance to audit policies and procedures. Assesses issues for impact to business processes, controls and strategies, assigns severity ratings and escalates broad themes or trends. Produces quality and timely audit reports that summarize results of an audit to management. Manages business partner relationships for areas of responsibly; primary engagement with line management. Exercises critical thinking and judgment to effectively influence management to improve the control environment. Participates in communication with regulatory agencies. Manages performance of the team, including expense management. Provides effective and frequent coaching and development to assigned audit team. Responsible for development, retention and personnel management issues. Fosters an inclusive work environment.

Shift:

1st shift (United States of America)

Hours Per Week: 

40