Officer, Operations, AML Refresh Operations

Officer, Operations, AML Refresh Operations

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:

The Function

The BANA India Refresh Team are part of Global Banking & Global Markets Operations which ensures the Periodic Refresh or reviews are completed within the stipulated timelines as per their dynamic risk rating. The Team works with refresh analyst globally and ensures the regulations for corporate clients are satisfied. The Team more over acts as a support function and performs processes like Document Gap analysis, Pan validation and Centralized Know your customer (CKYC) uploads to CERSAI Portal. The team also participates in periodic internal and external audits, regulatory submissions and furnish refresh datapoints to relevant stakeholders.

The Role

Full Time Employee to support the AML/CDD, Global Banking and Markets Refresh process. The team covers Periodic Refresh or reviews & CKYC (Centralized KYC) as its core activities and are responsible for completing AML/CDD checks in line with country standards and CIP/CDD procedures.

Role Responsibilities

• Perform document Gap analysis with available documents and ensure it meets the regulation.

• Perform CKYC Process and ensure timeliness.

• Provide support to Periodic Refresh or reviews by conducting Pan validations and other sub processes that might be required to fulfill the checklist.

• Be well versed & ensure any new regulations improvised/altered or added by regulator are put to implementation.

• Partner with colleagues in Banking, Sales, FLU cross regional teams and other groups as needed.

• Partner with MLRO for cases where guidance or relevant approvals are required to help complete refreshes on time.

• Monitor and understand the risks and impacts of non-compliance with KYC processes, including restrictions, closures.

• Participate in internal & external audits which requires deep research and investigation skills.

• Provide support in any remediations which might have tight deadlines.

• Prepare the MIS & Control reports and ensure the various stakeholders queries are answered.

• Challenging the status quo and suggest process streamlining where required.

• Embrace a collaborative and output-oriented culture.

Required Skills

• Postgraduate or equivalent degree.

• 5-7 years’ experience in Anti-Money Laundering (AML)/ Know your customer (KYC).

• Well versed with Country regulations for corporate customer KYC’s.

• Preferred: Certified Anti-Money Laundering Specialist (“CAMS”) or any other AML /KYC certifications.

• Knowledge of AML CDD policy and standards, industry practices in AML CDD, including legal entities in global jurisdictions.

• Initiative: Identify process improvements, demonstrate a "self-starter" behavior and a willingness to help others, and show potential to require minimal supervision.

• Excellent proficiency using Microsoft office products, particularly Microsoft PowerPoint, Excel, Word

• Excellent interpersonal skills for motivation, collaboration and encouragement

• Excellent communication skills to demonstrate collaborations with various groups as and when required.

Experience Level

Entry Level