Job Description:
Overview (Bank overview, GBS India overview, Function Overview)*
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
Process Overview*
Team will be responsible for inline alert reviews to identify AML customer types, such as prohibited types, material negative news, Sr. Political Figures, etc. The activities include, but not limited to:
Job Description*
GBAM AML Operations Associates are responsible for identifying, reviewing, and recommending next steps (no action necessary or escalation) of negative news alerts on behalf of the GBAM LOB as part of the BAC Customer Due Diligence process. Associates must be able to; a) determine if the alert matches our customer and confirm his or her or the entities identity and b) make a determination if the news is material and relevant and escalate for further review and investigation by the GBAM line of business.
Responsibilities*
1. Must have good personal computing, on-line research and analytical ability.
2. Must be detail oriented, an independent thinker, and able to handle multiple cases concurrently requiring multi-tasking skills.
3. Must have excellent written and verbal communication skills and be able to coordinate communications with partners providing comprehensive, clear and concise factual information to collaborate in alert governance process.
4. Attention to detail and accuracy is absolutely critical as quality of research documentation and resulting findings is critical to the integrity of the risk mitigation process.
5. Must possess critical thinking & problem solving skills and being able to evaluate information and make judgments about the value and relevancy of information, drawing conclusions from data gathered as part of investigation and review process to aid the line of business in critical decision making process
6. Must be able to work without close supervision, managing time effectively in order to deliver optimal performance and balance precision & accuracy with timeliness of work product.
7. Possesses expertise in MIS reporting
8. Interact with client on transactional issues
9. Provide subject matter expertise on processes
10 .Assist new hires such that they are productive on the floor in the shortest possible time frame.
11 .Perform miscellaneous duties as assigned by management
Requirements*
Education*
Graduate (any stream)
Certifications If Any
Association of Certified Anti-Money Laundering Specialists (ACAMs)
Experience Range*
7-10 years
Foundational skills*
Relevant experience in AML related processes, Familiarity with Global Banking and market products an advantage Knowledgeable of regulatory environment, risk framework, policies & standards
Desired skills
Should be a team player
Good Analytical Skills
Should exhibit Good grasp of process know how
Excellent written and verbal communication AML & Regulatory knowledge is added benefit Fluent with Excel
Work Timings*
12.30hrs – 21.30hrs
Job Location*
GGM
Job Band:
H7
Shift:
Hours Per Week:
45
Weekly Schedule:
Referral Bonus Amount:
0