Business Support Manager Anti-Money Laundering

Bank Of America Corporation Boston , MA 02298

Posted 4 months ago

Job Description:

Business Overview:

U.S. Trust, Bank of America Private Wealth Management is a leading private wealth management organization providing vast resources and customized solutions to help meet clients' wealth structuring, investment management, banking and credit needs. Clients are served by teams of experienced advisors offering a range of financial products and services, including investment management, financial and succession planning, philanthropic and specialty asset management, family office services, custom credit solutions, financial administration and family trust stewardship.

U.S. Trust is part of the Global Wealth and Investment Management unit of Bank of America, N.A., which is a global leader in wealth management, private banking and retail brokerage. U.S. Trust employs more than 4,100 professionals and maintains 135 offices in 33 states.

Job Description:

As one of the UST Anti-Money Laundering (AML) Business Support Managers you will have responsibility for various aspects of both management and oversight of the AML program. You will work closely with business leaders, operations owners, architecture & strategy, control partners, and technology executives to identify, define, and manage the connect points in the program to deliver the agreed upon strategies and objectives. In addition, as a subject matter expert on AML you must have an acute understanding of the regulatory requirements that can be translated into execution delivery, process transformation and redesign. You will be responsible for aligning stakeholders, managing the messaging and buy-in, and maintaining an oversight framework to provide visibility to executive leadership on the status and delivery across the program. The UST AML manager will report directly to the Head of UST AML.

Key Responsibilities:

  • Manage the end-to-end AML strategy for UST. Will be responsible for process transformation and redesign.

  • Leads the effort across the AML program to deliver an integrated solution roadmap to achieve the agreed upon strategic objectives

  • Works closely with the Head of UST AML to effectively measure and manage AML risks in UST, ensuring adherence to applicable AML laws and regulations with the development and implementation of a business-specific AML Program.

  • Works with the enterprise AML team to develop an effective UST AML program, including programs to provide AML training to appropriate personnel within the business.

  • Collaborates closely with Technology and Operations on the implementation and management of effective policies and processes for the performance of KYC and AML monitoring, as well as the production of relevant AML metrics.

  • Participates meaningfully in global/regional AML initiatives to enhance and/or improve AML controls in UST, as applicable

  • Provide advice and guidance on possible risks, and on the prevention, detection and reporting of suspicious activity as required by BofA AML polices and applicable local law

  • Coordinates and consolidates timely, complete and accurate reporting of UST-specific AML issues, and any other reports as may be required

  • Keeps abreast of new trends and developments in the field of AML, as well as of legal/regulatory changes.

Required Qualifications:

  • Certified Anti-Money Laundering Specialist (CAMS) certification preferred.

  • Strong executive presence and communication skills (verbal and written) are needed to partner with, establish credibility with, and influence senior executives (internal and external) and stakeholders in a heavily matrixed environment.

  • Strong project management skills. Be able to manage multiple resources to completion of quality deliverables in a pressured, time-sensitive environment with multiple competing priorities without having direct authority.

  • Must be highly motivated and tenacious; perseverant and resilient in pursuing objectives despite challenges. Possess mature business judgment and be proactive, well organized and results-oriented.

  • Must be able to understand technical delivery at a detailed level in order to identify connection points, dependencies and risks to plan

  • Must be able to effectively explain (verbal and written) technical delivery to business partners as well as able to translate business strategy into specific goals, tactic and action plans

  • An analytical mindset with the propensity to consider end to end solutions to complex problems

  • Insight to recognize gaps and execution risks and acumen to devise appropriate remediation plans

  • Interpersonal skills to lead a diverse group of constituents which are distributed across functional areas and physical locations

  • Must have ability to work in a fast paced, cross-functional environment

Experience:

  • Minimum five (5) years in the financial services industry

Minimum three (3) years in Compliance and/or AML Compliance and/or legal, audit, risk management role

Education:

  • Bachelors Degree from a recognized university in Accountancy, Banking, Business, Economics or Law.

Posting Date: 09/13/2018

Location: Boston, MA, 100 FEDERAL ST (MA5100), Pennington, NJ, HOPEWELL BLDG. 6, 1600 AMERICAN BLVD, New York, NY, 114 W 47TH ST (NY8114), Charlotte, NC, ONE BANK OF AMERICA CENTER, 150 N COLLEGE ST, - United States

Travel: Yes, 10% of the time

Full / Part-time: Full time

Hours Per Week: 40

Shift: 1st shift


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Business Support Manager Anti-Money Laundering

Bank Of America Corporation