Senior Anti-Money Laundering (AML) Analyst

Senior Team Member

Job Description:

About Us

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.  Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being 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.

 Bank of America believes both 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.

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!

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.

Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.

In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview*

The Consumer Anti-Money Laundering (CAML) Negative News team must complete the review and decisioning of Negative News alerts on consumer and small business customers identified by the screening process performed by Politically Exposed Person - Reputation/Negative News Screening for Compliance and News (PEP-REP SCAN) for Material Negative Information directly or closely related to financial crimes or significant reputational risk. The customer must be rated as “high-risk” and reported to Global Financial Crimes (GFC) (as defined in the Customer Due Diligence (CDD) Standard) once the front-line unit (FLU) confirms materiality.

Furthermore, all consumer customers that are determined to have Material Negative News (MNN) as defined within this document, will have their accounts closed unless express approval is obtained to maintain the relationship.

Job Description*

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:

•              Evaluation and review of alerts received

•              Effective communication of alert results and observations

•              Escalation of alerts, as applicable

Responsibilities*

•            Identify the potential match

•            Screening of Negative News & SPF/PEP received on alerts

•            Provide effective communication of alert results

•            Perform account closures, wherever applicable

•            Adherence to the SLA’s – Turnaround Time and Accuracy

•            Identify & report any potential suspicious activity

Requirements*

Education*

Any graduate/PG

 Certifications If Any

ACAMS (Preferred)

Experience Range*

 1 – 3 Years

 Foundational skills*

a. Knowledge of Money Laundering and AML program

b. Knowledge of Banking domain

c. Communication skills – Written & Verbal

d. MS Office – Excel & PowerPoint

Desired skills:

•        A high degree of confidence and ability to interact with senior executives and other control partners

•        Good knowledge of AML / KYC requirements

•        Prior Experience of AML, KYC / Compliance is an added advantage

•        To ensure consistent delivery on Business metrics along with other new responsibilities and setting higher standards of self and Team performance

•        Involve in day to day operations and ensure delivery on SLA/CTQs

•        Ability to exploit opportunities and to improve the end to end process

•        Excellent organization, written and verbal communication and facilitation skills

•        Ability to work in a high pressure and fast changing environment

•        Self-motivated and analytical

•        Adaptable to new systems and environments

•        Highly efficient with the ability to juggle multiple high priority activities concurrently

Work Timings*

12:30 – 21:30

Job Location*

Hyderabad

Experience Level

Senior Level