Bank of America
Operations Consultant - Sanctions Screening Center of Excellence
Bank of America, Newark, New Jersey, us, 07175
Job Description
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
This job is responsible for the day-to-day resolution of complex problems and the research and execution of complex transactions for a single site/business unit or smaller business unit(s). Key responsibilities include strategically advising upon the design, development, and implementation of products, systems, and services using discretion within the project management methodologies.
Responsibilities
Advises on the design, development, and implementation of complex products, systems, and services in an operations environment using discretionary judgment
Advises on projects and directs activities of a team related to special initiatives
Advises as a technical expert in assigned area, providing an understanding of the business unit's operations processes and implications on other groups within the operations function
Consults on present-state, develops alternative future-state approaches, and facilitates implementations by creating a clear and coherent approach to guide effective program/initiative setup, execution, and control
Identifies and recommends responsibilities and accountabilities for key programs/projects
Perform sanctions reviews on a variety of different Transactions
Ensure compliance with regulators such as OFAC (Office of Foreign Assets Control)
Monitor queue volumes and priorities
Communicate with different Lines of Business to retrieve information or advise of adverse decisions
Required Qualifications
2+ year experience in Operations or Compliance
Experience & knowledge of economic sanctions program requirements and disposition of sanctions alerts or extensive background with wires and/or ACH experience
Experience in client due diligence and KYC
Highly organized individual - Demonstrates a bias for action and a commitment to achieving sustainable results. Makes timely and fact based decisions
Analytical and detail oriented.
Ability to work under pressure, meet deadlines and navigate change
Ability to work independently, as well as, within a team.
Strong risk framework and approach.
Ability to prioritize, use own initiative and be flexible
Good oral and written communications skills.
PC proficiency and excellent Keyboarding/Typing skills.
Overtime as required
Desired Qualifications
Experience in Global Banking & Markets business process
Knowledge of Excel, Word, Outlook
Team player attitude, enthusiasm and commitment
Monitor work flow and team progress, provide feedback to manager/team
Monitor escalations received from Lines of business and response in timely manner
Coordinate with other sites/regions to ensure daily SSCOE goals are met
Provide training to new hires and up skill training to existing associates
Ensure existing training is updated appropriate to adjust for changes in environment over time
Minimum Education Requirement: Bachelor’s degree or equivalent work experience
Line of Business Specific Description About Sanctions Screening Center of Excellence: The Center of Excellence for economic sanctions monitoring is part of Global Payment Operations (GPO). GPO is the central hub for Bank of America in playing a monumental and mission critical role in establishing, servicing, supporting and monitoring two of the most widely used electronic payment processing vehicles – Wire and ACH – in the financial services arena worldwide. GPO is also accountable for the SSCoE (Sanctions Screening Center of Excellence) that reviews all of Bank of America’s customers and transactions to ensure compliance with Bank of America’s Economic Sanctions Program. SSCoE serves BAML’s eight lines of business, delivering global, regional and local capabilities through secure, fast and reliable technology, and people with the knowledge and experience to deliver timely and accurate review of all sanctions alerts across all products of Bank of America. Team also has the responsibility to provide support to client facing teams and clients where needed to educate on compliance program, drive better quality of data defining the customer and their day-to-day banking transactions.
Skills
Customer and Client Focus
Problem Solving
Risk Management
Adaptability
Attention to Detail
Collaboration
Critical Thinking
Issue Management
Analytical Thinking
Decision Making
Oral Communications
Presentation Skills
Shift:
1st shift (United States of America)
Hours Per Week:
40
#J-18808-Ljbffr
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
This job is responsible for the day-to-day resolution of complex problems and the research and execution of complex transactions for a single site/business unit or smaller business unit(s). Key responsibilities include strategically advising upon the design, development, and implementation of products, systems, and services using discretion within the project management methodologies.
Responsibilities
Advises on the design, development, and implementation of complex products, systems, and services in an operations environment using discretionary judgment
Advises on projects and directs activities of a team related to special initiatives
Advises as a technical expert in assigned area, providing an understanding of the business unit's operations processes and implications on other groups within the operations function
Consults on present-state, develops alternative future-state approaches, and facilitates implementations by creating a clear and coherent approach to guide effective program/initiative setup, execution, and control
Identifies and recommends responsibilities and accountabilities for key programs/projects
Perform sanctions reviews on a variety of different Transactions
Ensure compliance with regulators such as OFAC (Office of Foreign Assets Control)
Monitor queue volumes and priorities
Communicate with different Lines of Business to retrieve information or advise of adverse decisions
Required Qualifications
2+ year experience in Operations or Compliance
Experience & knowledge of economic sanctions program requirements and disposition of sanctions alerts or extensive background with wires and/or ACH experience
Experience in client due diligence and KYC
Highly organized individual - Demonstrates a bias for action and a commitment to achieving sustainable results. Makes timely and fact based decisions
Analytical and detail oriented.
Ability to work under pressure, meet deadlines and navigate change
Ability to work independently, as well as, within a team.
Strong risk framework and approach.
Ability to prioritize, use own initiative and be flexible
Good oral and written communications skills.
PC proficiency and excellent Keyboarding/Typing skills.
Overtime as required
Desired Qualifications
Experience in Global Banking & Markets business process
Knowledge of Excel, Word, Outlook
Team player attitude, enthusiasm and commitment
Monitor work flow and team progress, provide feedback to manager/team
Monitor escalations received from Lines of business and response in timely manner
Coordinate with other sites/regions to ensure daily SSCOE goals are met
Provide training to new hires and up skill training to existing associates
Ensure existing training is updated appropriate to adjust for changes in environment over time
Minimum Education Requirement: Bachelor’s degree or equivalent work experience
Line of Business Specific Description About Sanctions Screening Center of Excellence: The Center of Excellence for economic sanctions monitoring is part of Global Payment Operations (GPO). GPO is the central hub for Bank of America in playing a monumental and mission critical role in establishing, servicing, supporting and monitoring two of the most widely used electronic payment processing vehicles – Wire and ACH – in the financial services arena worldwide. GPO is also accountable for the SSCoE (Sanctions Screening Center of Excellence) that reviews all of Bank of America’s customers and transactions to ensure compliance with Bank of America’s Economic Sanctions Program. SSCoE serves BAML’s eight lines of business, delivering global, regional and local capabilities through secure, fast and reliable technology, and people with the knowledge and experience to deliver timely and accurate review of all sanctions alerts across all products of Bank of America. Team also has the responsibility to provide support to client facing teams and clients where needed to educate on compliance program, drive better quality of data defining the customer and their day-to-day banking transactions.
Skills
Customer and Client Focus
Problem Solving
Risk Management
Adaptability
Attention to Detail
Collaboration
Critical Thinking
Issue Management
Analytical Thinking
Decision Making
Oral Communications
Presentation Skills
Shift:
1st shift (United States of America)
Hours Per Week:
40
#J-18808-Ljbffr