Director, Global Financial Crimes Compliance Manager
Bank Of America / Merrill Lynch
May 16, 2018
About Bank of America Merrill Lynch:
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.
Connecting Asia Pacific to the World
Our Asia Pacific team is spread across 23 offices in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region's leading financial services companies.
Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion mission.
Bank of America Merrill Lynch is an equal opportunities employer.
The Global Financial Crimes Compliance (GFCC) Manager is responsible for engaging in activities to contribute to the independent compliance oversight of Front Line Unit ("FLU") and Control Function ("CF") performance and any related third party/vendor relationships in alignment with the Compliance Risk Management ("CRM") Program and the Global Compliance Enterprise Policy (GC Policy). As a member of a FLU or CF compliance officer team, the Compliance Manager demonstrates and applies business acumen to promote a culture of compliance and the identification, escalation and timely mitigation of compliance risks. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CRM Program objectives, balancing business strategy with appropriate controls.
The Global Financial Crimes Compliance (GFCC) Manager is accountable for contribution to the requirements in the GC Policy aligned to compliance officers, including but not limited to the following activities:
Assist the Compliance Executive in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective process and controls so that their day to day activities operate in a compliant manner.
Engage other compliance officers, Enterprise Areas of Coverage roles, and horizontal function roles to provide oversight of FLU and CF activities.
Conduct compliance risk assessments of FLU and CF.
Contribute to monitoring and testing coverage plans and related metrics for Front Line Unit ("FLU") or Control Function ("CF").
Monitor and test the effectiveness of the front line unit and control function compliance risk controls.
Identify aggregate, report and escalate compliance risks, issues and control enhancements.
Execute governance and management routines.
Identify compliance training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF and third party participation.
Assist business leaders in preparations for regulatory exams and audits for FLU/CF and related Enterprise Areas of Coverage.
Inspect that commitments made regarding actions in response to Matters Requiring Attention ("MRAs") and other actions are completed.
Escalate regulatory relations concerns to Compliance Executive.
The Compliance Manager reviews team deliverables to support consistent quality of activities, processes and outputs.
This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a small team, or may act as an individual contributor. This role may have Money Laundering Reporting Officer responsibilities.
Minimum Years Business & Functional Experience: 12 to 15 Years
Assesses Compliance Risk in the activities of a FLU/CF or the Company
Drives Accountability for Compliance Risk Mitigation
Communicates and Escalates Compliance Risk and partners with EAC teams to escalate EAC risks as applicable
Provides expertise and insight regarding applicable laws, rules, regulations and regulatory guidance to manage compliance risk
Degree Required: Bachelor's or equivalent experience
Certifications: CAMS is preferred
Anti-money laundering/financial crimes experience in a financial institution or government position in a Financial Services institution and/or related government entity is desired
Solid knowledge of AML typologies
Analytical, organized and possess decision making skills