Global Financial Crimes Specialist

About this role

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description: This job is responsible for supporting and leading the execution of substantive economic sanctions, regulatory reporting, and operational risk practices. Key responsibilities include assisting Global Financial Crimes executives and managers with activities that support the identification, escalation, and timely mitigation of compliance and operational risks in alignment with the Compliance and Operational Risk Management Program (CORM), the Financial Crimes and Global Compliance Enterprise Policies, the Enterprise Fraud Risk Management Standards, and applicable regulatory reporting obligations.

This role will serve as a lead subject matter expert for sanctions-related Non-Financial Regulatory Reporting, including regulatory reporting obligations to the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC). The individual will be responsible for providing leadership, oversight, and credible challenge across OFAC regulatory reporting processes, controls, governance routines, issue management, regulatory interpretation, and audit or examination engagement. The role requires strong sanctions knowledge, regulatory reporting experience, sound risk-based judgment, and the ability to influence outcomes across Legal, Operations, Technology, Audit, Regulatory Relations, Front Line Units, Control Functions, and senior management stakeholders.

The successful candidate must demonstrate strong leadership, executive communication, ownership, and the ability to manage complex reporting obligations with strict regulatory deadlines. This includes ensuring OFAC regulatory reporting processes are timely, accurate, complete, well-controlled, and supported by appropriate documentation, procedures, metrics, and governance.

Responsibilities: • Supports the development and maintenance of financial crimes-owned policies and standards, and reviews relevant Front Line Unit and Control Function-owned policies and standards to ensure regulatory requirements and operational risks are appropriately addressed. • Assists in the production of independent financial crimes risk management reporting to Global Compliance and Operational Risk senior leaders and Front Line Unit and Control Function senior leaders. • Serves as a lead subject matter expert for sanctions-related Non-Financial Regulatory Reporting, including reporting obligations to the Office of Foreign Assets Control. • Provides oversight and leadership for OFAC regulatory reporting processes, including blocked property reports, rejected transaction reports, unblocking reports, annual reporting, and other sanctions-related regulatory filings, as applicable. • Supports the timely, accurate, and complete submission of OFAC regulatory reports through effective process oversight, control monitoring, documentation, and escalation routines. • Assists in the monitoring of changes in regulations applicable to Global Financial Crimes, including advising business leaders, directing the appropriate areas to implement or amend policies, standards, procedures, and processes to address regulatory requirements, and challenging implementation plans as needed. • Partners with Legal, Regulatory Relations, Operations, Technology, Audit, Compliance Testing, and business stakeholders to assess regulatory developments, reporting obligations, process impacts, and control expectations related to OFAC reporting. • Supports the escalation of financial crimes-related compliance, regulatory reporting, and operational risks and issues to appropriate governance routines and management or board-level committees. • Assists in the identification, aggregation, reporting, escalation, remediation, and thematic analysis of Front Line Unit and Control Function-owned issues and control enhancements related to financial crimes and regulatory reporting. • Leads or supports root cause analysis, remediation planning, and control enhancement efforts related to OFAC reporting errors, late filings, process failures, control gaps, or regulatory reporting breaches. • Coordinates responses to Internal Audit reviews, regulatory examinations, Compliance Testing, and risk management inquiries related to sanctions regulatory reporting processes, controls, documentation, and governance. • Develops and presents regulatory reporting metrics, key risk indicators, governance materials, issue updates, and management-level reporting related to OFAC reporting performance, risks, and control effective

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