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Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!Job Description:Global Economic Sanctions (“GES”) is responsible for dedicated compliance and operational risk management of processes unique to economic sanctions.The Sanctions Risk Specialist is a function within GES that is responsible for the identification, aggregation, reporting, and escalation of sanction related risks. The Sanctions Risk Specialist is responsible for the execution of risk management responsibilities in areas such as sanctions advisory, issues management, and monitoring and testing from a sanctions compliance and risk perspective. This role is an individual contributor within the Sanctions Technology Oversight Team.The role will provide oversight of the Sanctions tools, data inventory and end-to-end sanctions data testing. As GFC monitoring covers all FLUs within the bank, this role will have the opportunity to gain exposure to multiple Bank products and systems.The Sanctions Risk Specialist may engage in the following processes to evaluate and assess FLU/CF controls, sanctions-specific second line functions and controls, and residual risks related to economic sanctions:Identify, implement, and execute monitoring and testing routines to verify key controls within the sanctions screening technology and operations teamsEvaluate and manage monitoring objectives and pertinent details in ORCITServe as test owner/test owner representative and maintain test plans/scripts in OCP and socializing the information with the appropriate stakeholdersDetermine if Audit Issues or Control Enhancements are warranted based on oversight resultsDraft, own and resolve to completion Audit Issues/CE when warrantedOversee screening technology audit issues related to sanctionsProvide background/summary of key matters identified via oversight functions to GFC managementCommunicate results to key stakeholders, respond to auditors and regulators, prepare presentation to regional and global risk committees and conduct risk analysis and research on economic sanctions related mattersExecute or assist in executing economic sanctions periodic and/or targeted risk assessmentsProvide priority, business requirements and guidance on technology changes to sanctions technology teamsEstablish, maintain and oversee FLU/CF inventory data feeds to sanctions filtersProvide guidance and oversee new lists within the sanctions screening technologyMaintain and oversee lists applicability, in consultation with Money Laundering Reporting Officers, within the sanctions screening technologyReview and provide approval of new rules, in consultation with Money Laundering Reporting Officers, within the sanctions screening technologySkills:Critical ThinkingMonitoring, Surveillance, and TestingRegulatory ComplianceRisk ManagementPolicies, Procedures, and Guidelines ManagementWritten CommunicationsReportingRequired Qualifications:Minimum 5 years of business and/or functional experience in financial services industry, risk management, financial crimes, testing, or experience in a related fieldMinimum 3 years of experience in economic sanctionsMinimum 3 years of experience in monitoring, testing, and/or quality assurance/quality control experienceBachelor’s degree or equivalent work experienceDesired Qualifications:Financial Services and/or related government entityAbility to handle multiple projects in dynamic environment and global team settingExcellent business stakeholder management and communication skillsStrong Excel skillsShift:1st shift (United States of America)Hours Per Week:40
