Bank of America Corporation
Sr Business Control Specialist - Global Markets Operations
Bank of America Corporation, Charlotte, NC
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!
Job Description:
This job is responsible for driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation.
LOB Job Description:
Manages in scope LOB products, processes or functions related to Global Markets and Live Activity Post Trade Report (LATR) Accounts to ensure they are in compliance with the current Client Due Diligence (CDD) policy and AML guidelines. Serve as secondary contact to department managers for critical change initiatives and provides assistance to department staff where needed. Partner with various operation teams on upcoming enhancements and testing plans, including ongoing success measures, to sustain the change. Accountable for initiatives, current processes or functions although some may have cross-functional or inter-departmental implications. Develop and socialize potential risk mitigation strategies. Effectively communicates with managers, peers and business partners on deliverable, timelines and support needed. Strong time management skills, including the ability to prioritize work and meet deadlines.
Responsibilities:
Required Qualifications:
Desired Qualifications:
Skills:
Shift:
1st shift (United States of America)
Hours Per Week:
40
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:
This job is responsible for driving and executing on internal control discipline and operational excellence within a Line of Business (LOB) or Enterprise Control Function (ECF). Key responsibilities include providing analytical and administrative support for LOB or ECF specific processes and tools to drive adherence to enterprise-wide standards. Job expectations include monitoring and testing controls and implementing quality assurance and quality control processes within the LOB or ECF by evaluating data to help identify, track, and report issues and control improvements for remediation.
LOB Job Description:
Manages in scope LOB products, processes or functions related to Global Markets and Live Activity Post Trade Report (LATR) Accounts to ensure they are in compliance with the current Client Due Diligence (CDD) policy and AML guidelines. Serve as secondary contact to department managers for critical change initiatives and provides assistance to department staff where needed. Partner with various operation teams on upcoming enhancements and testing plans, including ongoing success measures, to sustain the change. Accountable for initiatives, current processes or functions although some may have cross-functional or inter-departmental implications. Develop and socialize potential risk mitigation strategies. Effectively communicates with managers, peers and business partners on deliverable, timelines and support needed. Strong time management skills, including the ability to prioritize work and meet deadlines.
Responsibilities:
- Oversees the design and effectiveness of the risk and control environment to support Client Operational Services and ensure adherence to enterprise-wide standards
- Supports the monitoring and testing of controls by evaluating data to identify issues and control improvements for remediation
- Implements optimized controls and enhanced Quality Assurance (QA) practices to support business continuity efforts
- Conducts and coordinates quality inspection reviews to enhance employee performance and control effectiveness
- Performs QA activities including executing on controls, managing cases, and reporting results
- Executes initiatives by identifying areas of potential testing automation, procedural updates, thematic trends, test script updates, and coaching opportunities to enhance QA program success
- Supports the overall management of and research required for regulatory exams, internal audits, and other monitoring and inspection reviews and evaluates data and information relevant to inspection metrics to support governance activities for dashboard reporting
- Oversight of account level (Markets and LATR) offboarding reconciliation breaks reporting and monitoring routines
- Process requests from business/operations partners specifying actions required to perform KYC for clients in AWARE within SLA (24-48hrs)
- Ensure requests are in compliance with the current CDD policy and AML guidelines to mitigate risks associated with not actioning appropriately
- Supply guidance and customer service for business partners and operations teams regarding status of request
- Communicate actions on specific LOB requests to enable further action or remediation to be completed on the record
- Continuously monitor and update processes and procedures based on LOB/AML/CDD policies as they change due to regional or jurisdictional status
- Operations coordination, planning, and measurement (metrics)
- Reporting-volumes, trends, and reconciliation as needed
- Responsible for triage planning and remediation and escalated issues in Global Financial Crimes Compliance (GFCC)
- Review data entry and information to ensure that account closures comply with guidelines
- Assemble the information from various reports into a consolidate format to send to the Lines of Business (LOBs) for approval
- Serve as the liaison between Client Offboarding Detect and Control (CODC) and the LOB to capture stakeholder decisions directly escalated for account closure decisioning
- Communicate effectively with inter-department groups such as: Global Banking Detect and Control, Global Markets Client Offboarding, Cross Line of Business, AML Restrictions, Bulk Operations Team, Data Quality, and GBS associates
Required Qualifications:
- 3+ years of Global Market and Banking Operations experience
- Presentable and confident.
- Global Markets and experience
- Proficient in Excel
- Excellent oral and written communications skills
- Ability to present to an audience
- Ability to work under pressure in a team environment
- Ability to liaise with all levels of the firm and people with different experiences and backgrounds
- Self-motivated and able to work unsupervised. Candidate will be able to manage own time and know when to escalate
Desired Qualifications:
- Able to manage multiple small projects/initiatives
Skills:
- Controls Management
- Issue Management
- Monitoring, Surveillance, and Testing
- Quality Assurance
- Risk Management
- Analytical Thinking
- Attention to Detail
- Critical Thinking
- Problem Solving
- Written Communications
- Decision Making
- Innovative Thinking
- Prioritization
- Recording/Organizing Information
- Research
Shift:
1st shift (United States of America)
Hours Per Week:
40