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
AML On-boarding function delivers support for Global Banking and Markets business with End-to-End AML/KYC On-boarding process. The team is responsible for adherence to client regulatory requirements as part of the Onboarding process.
Job Description
This includes Anti-Money Laundering (AML) Client Reference Screening, Know Your Client (KYC) and other critical non-AML/KYC regulations such as MIFID, QIB, QFC, Dodd Frank, EMIR, HKPI, etc. Additionally, the team works on cross-functional project to support ongoing change process and new regulations.
Responsibilities:
- Strong written and oral communication skills
- Hands on understanding of AML On-boarding process
- Complete AML On-boarding assigned activities and adhere to quality standards and timelines
- Ability to multi-task and manage multiple cases in a fast-paced deadline driven environment.
- Drive process improvement initiatives aimed to improve client experience
- Ensuring that the business is compliant with all Bank policies and local legal requirements globally
- Ensuring that documentation requirements are met and perform Anti-Money Laundering checks on existing clients. This includes independent verification of information supplied by using external research via publicly approved sources.
- Review completed documentation from client and sign off in compliance with local AML regulations
- Following up on all outstanding issues/escalations.
- Provisioning of guidance, advice and training to other teams with the business on an ad-hoc basis
- Liaising with business partners in Global Finance Crimes Compliance, Onboarding, Sales and Local Compliance Officer in Europe
- Maintain a current understanding of global issues, risk and events that could affect client risk level. Ensure all requirements are adhered too.
- Provide on-the-ground expertise on Client Due Diligence requirements (global jurisdictions) as well as Quality Assurance Process. Day to day ongoing coaching deliver and Review QA/QC results from Quality Control team and address training deficiencies
- Timely escalation and follow up of aged cases to provide visibility to Leadership.
- Build relationships with AML Investigations units and effectively communicate and transfer information for case investigation
- Ensure the highest standard of quality is adhered too and drive process efficiency opportunities.
Requirements
Education : Graduate and Preferable MBA
Certifications : Preferably ACAMS Certification
Experience Range : 9 Years of relevant experience in AML/KYC/CDD or related function.
Foundational skills : Hands on understanding of AML / KYC business
- Understanding of Global Markets; Capital Markets
- Understanding of AML Regulations & Requirements
- Understanding of basic AML & Due Diligence terminologies OFAC; SPF/PEP, Negative News, FATF etc.
Desired Skills
- Knowledge of AML/CTF and Sanctions is essential. Must be working in a similar role within the Banking and Capital Markets Industry
- Knowledge of various corporate structures e.g. Funds, Trusts, Partnerships, SPV's, Complex Structures, SPF/PEP, Negative News, etc.
- Familiarity with Global Banking and market products and knowledgeable of regulatory environment, risk framework, policies & standards.
Work Timings: Candidates need to be flexible for shift per business requirement. Current requirement is for late EMEA Shift
Location : Hyderabad 
