Job Description

: Your background

• Position requires knowledge of economic sanctions regulations and banking products. Strong ability to analyze and communicate in writing and verbally is necessary.
• University degree, prior sanctions experience.
• English
• Day shift, and regular nighttime meetings to connect with US team. Will occasionally need to work longer hours when geopolitical events result in new or changing sanctions regulations.

What you can expect The BofA economic sanctions risk management team oversees the company’s compliance with economic sanctions regulations globally. Whether triggered by massive geopolitical events or targeted to disrupts narcotics or weapons proliferation rings, economic sanctions are being increasingly used by governments as an integral part of their foreign policy. This team ensures that the Bank of America implements those sanctions correctly and manages related sanctions risks. We are a global team based in Singapore, London, and various cities in the United States, and work across every business and support function in the company. What you will do

• The Sanctions Intelligence and Enhanced Due Diligence (EDD) team oversees Front Line Units’ enhanced due diligence of entity clients who do business with sanctions targets.

Policies and Standards

• Maintain the sanctions enhanced due diligence questionnaires for entity relationships and Global Banking and Global Markets deals

Escalations

• Review sanctions enhanced due diligence entity onboarding & refresh and escalations where Front Line Units have identified sanctions exposure
• Conduct reviews of corporate events, conferences and research involving activity based sanctioned entities
• Provide guidance on vendor and third party sanctions matters

Monitoring and Testing

• Develop and execute monitoring and testing routines to verify Front Line Unit controls within the sanctions enhanced due diligence processes are performing as expected
• Issues
• Determine if issues or control enhancements are warranted based on monitoring or testing observations
• Draft Risk identified issues when warranted
• Metrics and Reporting
• Provide input into regional executive level reporting on key sanctions enhanced due diligence matters
• Risk Assessment
• Provide risk management teams with sanctions enhanced due diligence specific content in periodic and targeted risk assessments
• Conduct risk analyses on entity clients impacted by specific sanctions regulatory changes

Training

• Provide training and education to Front Line Units & Control Functions on sanctions enhanced due diligence best practices

About Bank of America Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading. Connecting Asia Pacific to the world Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies. Job Band: H5 Shift: Hours Per Week: 40 Weekly Schedule: Referral Bonus Amount: 0