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Bank of America AML Process Transformation & Quality Assurance - NYC in New York, New York

AML Process Transformation & Quality Assurance - NYC

New York, New York

Job Description:

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with

leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all

Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of

financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset

classes, making us a global leader in corporate and investment banking, sales and trading.

Business Overview

We believe Bank of America can do more for our clients than any other financial services firm. We understand the challenges our

clients face around the world, and we use the full resources of our company to help them achieve their goals. Our solutions span

the complete range of advisory, capital raising, banking, treasury and liquidity, sales and trading, and research capabilities.

Job Description

Responsible for managing the delivery of transformation and change into GCIB AML teams globally to ensure consistency of

approach across People, Process, Control Management and Technology. The incumbent will have strong alignment to regional

GCIB AML Outreach Leaders as well as the wider GCIB frontline team supporting:

Process & Accuracy

 Understanding and responsibilities for implementation of re-designed Client Due Diligence and Refresh process

 Drive consistency in processes globally while allowing for Regional process variations as needed per Business setups, laws

or regulations

 Cross functional alignment of key / common tasks and initiatives

 Streamline implementation design by reducing or eliminating non value add work such as manual workarounds

Quality Assurance

 Review and monitoring of quality at critical Refresh stages i.e. RMT quality and Document Collection quality

 Design and implement best practices, introduce and track control points for quality

 Identify and Escalate thematic issues on quality, lead remediation for such issues in their respective region and

coordinate with global team members, GBAM AML and GFC partners

Client Experience Improvement

 Enable Outreach and banking teams on delivering best in class customer experience on KYC processes and ensuring these

are adopted globally within GCIB AML

 Ensure the target model enables a differentiated, holistic, consistent and relationship based experience with a strong

focus on “client satisfaction”

 Focus on reducing redundant or manual steps in designed processes

Risk

 Ensure target state adheres to policy ensuring we are compliant and can support the GBAM AML initiatives

 Each transition and implemented change should be fit for purpose with defined procedures, controls and a clearly

defined process

People

 Ensure staff education and their knowledge and experience remains current, with Client Outreach and GCIB frontline

teams trained on any change to process, policies or procedures

 Be “Process Champion” for respective region on Quality Assurance

2

Responsibilities will include:

 Ensures all change is delivered consistently globally – regional process variation, unless specifically required and

evidenced by law or regulation will not be permitted

 Stay connected to have a deep understanding of current state processes in GCIB AML Client Outreach, frontline’s AML

responsibilities & GCIB AML processes connected with Refresh

 Improve effectiveness of GCIB AML Client Outreach team and frontline by enhancing the due diligence up front to

understand global operational impacts, driven by change and what is required to successfully implement required

changes

 Owns readiness for all change affecting GCIB AML Client Outreach teams and frontline, implementing process

improvement recommendations and procedural updates derived from changes to policy, technology adoption, process

enhancements and remediation of control weaknesses / gaps

 Deliver high quality services for GCIB AML Client Outreach team measured through pre-defined KPIs and stakeholder

feedback. Proactively Identify opportunities to develop and implement new QA processes on KPIs, metrics and reporting.

Continually seeks to improve the operational experience, efficiency and quality standards globally

 Support audit issue and regulatory issue remediation, to ensure successfully delivered and evidence satisfies

requirements

 Monitors change performance; recommends enhancements and monitors upcoming change roadmap

 Plan and conduct monitoring and testing activities on GCIB AML Client Outreach team, that reflect enterprise and

country level requirements and provide results to management

 Executes and integrates new capabilities as driven by global objectives

 Attend regular management and team meetings to provide updates on status of projects, initiatives and change roadmap

 Ensure GCIB AML Client Outreach team procedures are maintained and remain up to date, performing training when

changes to policy or procedure

 Collaborate with GBAM AML and Accenture Team to share best practice, identify areas of improvement and ensure

consistency with global support model

 Enhance the workplace through leadership, employee engagement and personnel development. Builds a culture of

teamwork and collaboration focused on goals delivery

Skills Requirement:

 Good understanding of AML CDD operations environment and global / jurisdictional regulations

 Knowledge of industry policy and standards

 Proven focus on improving Operational efficiency through working across multiple stakeholders, understanding global

processes and ability to provide practical & consistent solutions

 Effective interpersonal and communication skills

 Proven stakeholder relationship/influence management skills to achieve swift adoption through close partnership

 The ability to find ways of solving or pre-empting problems

 Ability to multi-task, plan and function in a self-directed environment

 Understands and respects cultural differences

 Must be able to work in a matrix organization as well as manage interactions as all levels

 Program / Project management experience

 Ability to handle multiple competing priorities in a fast-paced environment

 Capable continuous process improver

 Strong Risk awareness (Inc. Operational, Compliance, Business & Reputational)

Job Band:

H5

Shift:

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with

leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all

Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of

financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset

classes, making us a global leader in corporate and investment banking, sales and trading.

Business Overview

We believe Bank of America can do more for our clients than any other financial services firm. We understand the challenges our

clients face around the world, and we use the full resources of our company to help them achieve their goals. Our solutions span

the complete range of advisory, capital raising, banking, treasury and liquidity, sales and trading, and research capabilities.

Job Description

Responsible for managing the delivery of transformation and change into GCIB AML teams globally to ensure consistency of

approach across People, Process, Control Management and Technology. The incumbent will have strong alignment to regional

GCIB AML Outreach Leaders as well as the wider GCIB frontline team supporting:

Process & Accuracy

 Understanding and responsibilities for implementation of re-designed Client Due Diligence and Refresh process

 Drive consistency in processes globally while allowing for Regional process variations as needed per Business setups, laws

or regulations

 Cross functional alignment of key / common tasks and initiatives

 Streamline implementation design by reducing or eliminating non value add work such as manual workarounds

Quality Assurance

 Review and monitoring of quality at critical Refresh stages i.e. RMT quality and Document Collection quality

 Design and implement best practices, introduce and track control points for quality

 Identify and Escalate thematic issues on quality, lead remediation for such issues in their respective region and

coordinate with global team members, GBAM AML and GFC partners

Client Experience Improvement

 Enable Outreach and banking teams on delivering best in class customer experience on KYC processes and ensuring these

are adopted globally within GCIB AML

 Ensure the target model enables a differentiated, holistic, consistent and relationship based experience with a strong

focus on “client satisfaction”

 Focus on reducing redundant or manual steps in designed processes

Risk

 Ensure target state adheres to policy ensuring we are compliant and can support the GBAM AML initiatives

 Each transition and implemented change should be fit for purpose with defined procedures, controls and a clearly

defined process

People

 Ensure staff education and their knowledge and experience remains current, with Client Outreach and GCIB frontline

teams trained on any change to process, policies or procedures

 Be “Process Champion” for respective region on Quality Assurance

2

Responsibilities will include:

 Ensures all change is delivered consistently globally – regional process variation, unless specifically required and

evidenced by law or regulation will not be permitted

 Stay connected to have a deep understanding of current state processes in GCIB AML Client Outreach, frontline’s AML

responsibilities & GCIB AML processes connected with Refresh

 Improve effectiveness of GCIB AML Client Outreach team and frontline by enhancing the due diligence up front to

understand global operational impacts, driven by change and what is required to successfully implement required

changes

 Owns readiness for all change affecting GCIB AML Client Outreach teams and frontline, implementing process

improvement recommendations and procedural updates derived from changes to policy, technology adoption, process

enhancements and remediation of control weaknesses / gaps

 Deliver high quality services for GCIB AML Client Outreach team measured through pre-defined KPIs and stakeholder

feedback. Proactively Identify opportunities to develop and implement new QA processes on KPIs, metrics and reporting.

Continually seeks to improve the operational experience, efficiency and quality standards globally

 Support audit issue and regulatory issue remediation, to ensure successfully delivered and evidence satisfies

requirements

 Monitors change performance; recommends enhancements and monitors upcoming change roadmap

 Plan and conduct monitoring and testing activities on GCIB AML Client Outreach team, that reflect enterprise and

country level requirements and provide results to management

 Executes and integrates new capabilities as driven by global objectives

 Attend regular management and team meetings to provide updates on status of projects, initiatives and change roadmap

 Ensure GCIB AML Client Outreach team procedures are maintained and remain up to date, performing training when

changes to policy or procedure

 Collaborate with GBAM AML and Accenture Team to share best practice, identify areas of improvement and ensure

consistency with global support model

 Enhance the workplace through leadership, employee engagement and personnel development. Builds a culture of

teamwork and collaboration focused on goals delivery

Skills Requirement:

 Good understanding of AML CDD operations environment and global / jurisdictional regulations

 Knowledge of industry policy and standards

 Proven focus on improving Operational efficiency through working across multiple stakeholders, understanding global

processes and ability to provide practical & consistent solutions

 Effective interpersonal and communication skills

 Proven stakeholder relationship/influence management skills to achieve swift adoption through close partnership

 The ability to find ways of solving or pre-empting problems

 Ability to multi-task, plan and function in a self-directed environment

 Understands and respects cultural differences

 Must be able to work in a matrix organization as well as manage interactions as all levels

 Program / Project management experience

 Ability to handle multiple competing priorities in a fast-paced environment

 Capable continuous process improver

 Strong Risk awareness (Inc. Operational, Compliance, Business & Reputational)

Shift:

1st shift (United States of America)

Hours Per Week:

40

Learn more about this role

Full time

JR-21022427

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Gweneth Leuther Karas

Referral Bonus:

0

Bank 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/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .

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 .

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