Sanctions Risk SpecialistCharlotte, North Carolina;Dallas, Texas; Jacksonville, Florida; Plano, TexasJob 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!Job Description: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:
Identify, implement, and execute monitoring and testing routines to verify key controls within the sanctions screening technology and operations teams
Evaluate and manage monitoring objectives and pertinent details in ORCIT
Serve as test owner/test owner representative and maintain test plans/scripts in OCP and socializing the information with the appropriate stakeholders
Determine if Audit Issues or Control Enhancements are warranted based on oversight results
Draft, own and resolve to completion Audit Issues/CE when warranted
Oversee screening technology audit issues related to sanctions
Provide background/summary of key matters identified via oversight functions to GFC management
Communicate results to key stakeholders, respond to auditors and regulators, prepare presentation to regional and global risk committees and conduct risk analysis and research on economic sanctions related matters
Execute or assist in executing economic sanctions periodic and/or targeted risk assessments
Provide priority, business requirements and guidance on technology changes to sanctions technology teams
Establish, maintain and oversee FLU/CF inventory data feeds to sanctions filters
Provide guidance and oversee new lists within the sanctions screening technology
Maintain and oversee lists applicability, in consultation with Money Laundering Reporting Officers, within the sanctions screening technology
Review and provide approval of new rules, in consultation with Money Laundering Reporting Officers, within the sanctions screening technology
Skills:
Critical Thinking
Monitoring, Surveillance, and Testing
Regulatory Compliance
Risk Management
Policies, Procedures, and Guidelines Management
Written Communications
Reporting
Required Qualifications:
Minimum 5 years of business and/or functional experience in financial services industry, risk management, financial crimes, testing, or experience in a related field
Minimum 3 years of experience in economic sanctions
Minimum 3 years of experience in monitoring, testing, and/or quality assurance/quality control experience
Bachelor’s degree or equivalent work experience
Desired Qualifications:
Financial Services and/or related government entity
Ability to handle multiple projects in dynamic environment and global team setting
Excellent business stakeholder management and communication skills
Strong Excel skills
Shift:1st shift (United States of America)Hours Per Week:40Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCPEEOSupplementFinalJRFQA508c.pdf) .View the LA County Fair Chance Ordinance .Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
