Senior Auditor - AML

Bank Of America Corporation East Hartford , CT 06108

Posted 2 weeks ago

Job Description:

The Audit Committee of the Board of Directors oversees the effectiveness of the Company's system of internal controls, policies, and processes for managing and accessing risk. Under the delegation of the Audit Committee and in support of the Risk Framework, Corporate Audit provides independent assessments and validation of risks through testing of key processes and controls across the Company including Global Financial Crimes (GFC)/Anti-Money Laundering (AML). To ensure proper identification and escalation of all risks, Corporate Audit employs a comprehensive Issue Management Process comprised of the following components:

  • Issue Identification

  • Issue Documentation & Status Updates

  • Issue Validation

We are currently seeking an experienced professional with GFC/AML and Sanctions experience to focus primarily on the management of issues in these areas. This position is an individual contributor role that will be primarily responsible for managing the GFC/AML/Sanctions issues that are identified by the lines of business, controls functions, Compliance, Risk, Corporate Audit, PwC and regulators.

Specific Responsibilities:

  • Reviewing and discussing proposed issues with business/Compliance/Risk partners, Audit teams and Subject Matter Experts (as needed) to ensure sufficient details are included, severity is appropriate, and root cause has been clearly documented

  • Working with the management team to determine whether issues have broader implications across the company, or rises to the level of a Theme

  • Reviewing proposed Action Plans submitted by business partners to ensure the remediation plan is designed to drive timely resolution, establish accountability and mitigate identified risks

  • Creating and executing detailed Test Plans designed to validate that the businesses and control functions have appropriately remediated the root cause of the issue

  • Monitoring the life-cycle of assigned GFC/AML/Sanction issues to ensure timely resolution

  • Proactively communicating status, results and challenges to the Auditor-In-Charge; maintaining open communication with business partners and other issue contacts; and working effectively in an inclusive team environment

  • Utilizing sound analytical skills and demonstrating product, business and technical expertise to independently execute validation testing for multiple assigned issues while applying effective risk-based audit strategies

  • Applying sound project management skills to effectively complete assignments timely and with a high degree of quality

  • Establishing business partner relationships and exercising judgment and critical thinking to influence them

  • Applying deep and broad business acumen to assigned issues

  • Actively supporting peers as issues are transitioned from the Audit Teams to the Issues Team

Required Skills:

  • Bachelor's degree or equivalent work experience

  • Knowledge of banking products, associated risks and audit techniques

  • Direct experience working with AML in a compliance or audit capacity

  • Sound organizational, analytical, and communication (both written and oral) skills

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

  • Ability to juggle multiple work efforts and quickly change direction, as needed

Desired Skills:

  • Obtained (or working towards) professional designation such as Certified Anti-Money Laundering Specialist (CAMS), Certified Fraud Examiner (CFE), or other relevant business designation

  • Compliance activities regulatory compliance and applicable banking regulations

  • Core elements of a financial services company's AML and Sanctions Compliance Program

  • Compliance risk and control framework

  • Know Your Customers (KYC), OFAC and HMT regulations, Customer Identification Program (CIP)/Customer Due Diligence (CDD)/Enhanced Due Diligence (EDD), Suspicious Activity Report (SAR), Politically Exposed Person (PEP), Trade Finance, Transaction Monitoring

Posting Date: 10/31/2018

Location: East Hartford, CT, 99 Founders PLZ (CT2547), Wilmington, DE, BRACEBRIDGE II, 1020 N FRENCH ST, Boston, MA, 225 FRANKLIN ST (MA1225), Charlotte, NC, 201 N TRYON ST (NC1022), Plano, TX, BUILDING B, 7105 CORPORATE DR, - United States

Travel: Yes, 5% of the time

Full / Part-time: Full time

Hours Per Week: 40

Shift: 1st shift


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Senior Auditor - AML

Bank Of America Corporation