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Operations Consultant

2 months ago


Beckenham, Greater London, United Kingdom Bank of America Full time
Job Description:

Job Title: Sanctions Advanced Escalations Specialist

Corporate Title: Up to Vice President

Location: London

Company Overview:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Our company is built on a foundation of responsible growth, which means we deliver for our clients, teammates, communities, and shareholders every day.

We strive to be a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

We believe in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Role Description:

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.

This role 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 of the role include strategically advising upon the design, development, and implementation of products, systems, and services using discretion within the project management methodologies.

Responsibilities:

  • Review sanctions alerts generated on customer or transactional data contents - typically referred to as Relationship Screening and Transactional Screening.
  • Analyse/interpret complex sanctions regulations in decision making of sanctions alerts.
  • Drive meaningful changes and continuous process improvements to ensure CoE is effective in managing economic sanctions compliance risk through an efficient process.
  • Act as the liaison for all economic sanctions compliance matters for client management and key regional clients (where required).
  • Part of strategic direction for functional teams including target operating model for people, process, and technology.
  • Engage in regional and global project initiatives that may impact the functional processes owned.
  • Coordinate with other sites/regions to ensure daily SSCOE goals are met.
  • Monitor escalations received from Lines of business and response in timely manner.

Requirements:

  • Highly organized individual - Demonstrate a bias for action and a commitment to achieving sustainable results. Makes timely and fact-based decisions.
  • Manage the risk reward trade off; follows the proper risk routines to get the right outcomes for the business. Successful candidate MUST have a great risk framework and approach.
  • Demonstrate a commitment for continuous learning; challenges the status quo and is passionate and capable of driving change across the organization.
  • Experience & Knowledge of economic sanctions program requirements and disposition of sanctions alerts or extensive background with GBS, GPP, WTX and/or Wire/ACH experience.
  • Team player attitude, enthusiasm, and commitment.

Benefits of working at Bank of America:

  • Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner.
  • Competitive pension plan, life assurance, and group income protection cover if you become unable to work as a result of a disability or health reasons.
  • 20 days of back-up childcare including virtual tutoring and 20 days of back-up adult care per annum.
  • The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness, etc.
  • Use of a flex fund to use towards benefits.
  • Access to an emotional wellbeing helpline, mental health first aiders, and virtual GP services.
  • Ability to donate to charities of your choice directly through payroll and the bank will match your contribution.
  • Opportunity to access our Arts & Culture corporate membership programme and receive discounted entry to some of the UK and Ireland's most iconic cultural institutions.
  • Opportunity to give back to your community, develop new skills, and work with new groups of people by volunteering in your local area.