Financial Crimes Manager - Crypto​/Digital Assets

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.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

This job is responsible for executing substantive money laundering, economic sanctions and fraud compliance and operational risk practices for Crypto Currency, Digital Assets, and Payments within the Global Payment Solutions business. Key responsibilities include working directly or through the emerging risk, compliance officers for the Front Line Units (FLUs) and Control Functions (CFs) to complete compliance, policy, operational/fraud risk management requirements.

• Advises and directs 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 addressed

• Produces and/or oversees independent financial crimes risk management reporting to Global Financial Crimes senior leadership

• Monitors the 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 needed

• Participates in industry forums and monitors regulatory expectations, emerging legislation and regulation, political scrutiny, litigation and key influencers to identify and mitigate emerging risks

• Escalates financial crimes related compliance and operational risks and issues to appropriate governance routines, management/board level committees

• Identifies, aggregates, reports, escalates, inspects, and challenges the remediation and thematic analysis of FLU/CF-owned issues and control enhancements related to financial crimes

• Reviews and challenges internal and external operational loss events, including the development of remediation plans to strengthen controls and providing oversight to ensure they are addressed appropriately

• Leads discussions with FLU, GCOR and GFC partners to analyze business processes, internal controls, client behavior and transaction trends

• Recommends changes to financial crimes standards, and review relevant Front Line Units/Control Functions-owned procedures (or like documents) to identify potential issues in meeting regulatory requirements and operational risks for resolution

• Contribute to the creation and implementation of GFC Coverage Plan which defines the scope of coverage for GB/GM

• Produces and/or oversees financial crimes risk management reporting to senior leaders within the business and global risk environment

• Establish, monitor and report on GFC and FLU metrics that are reflective of key risks within the areas of coverage

• Monitor regulatory changes applicable to Global Financial Crimes

• Engage with relevant GFC partners to drive thematic reviews of key risk areas and develop/enhance GFC automated detection tools designed to identify potentially suspicious activity as per regulatory guidance

• Advise FLU senior leaders on key regulatory developments in BSA/AML laws, rules and regulations

• Design monitoring and testing routines and reporting to identify potential AML risks and/or control weaknesses

• Evaluates…