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

The purpose of the job is to report and analyze data around completeness and accuracy of the “Know Your Customer” data and information that is collected on our clients and to ensure compliance with Anti-Money Laundering policies and procedures. In addition, this job is to ensure that the appropriate Risk related activities are preformed based on the analysis of that client data and in accordance with AML policies. This information is critical in our efforts to comply with internal risk avoidance efforts and external compliance requirements.

Process Overview

KYC team ensures an environment where particular client is complying with the CDD guidelines. They perform the checks on the population managed by On-boarding teams globally and are responsible to have most updated documentation / information updated for clients maintaining relationship with Bank of America

Job Description

The purpose of the job is to report and analyze data around completeness and accuracy of the “Know Your Customer” data and information that is collected on our clients and to ensure compliance with Anti-Money Laundering policies and procedures. In addition, this job is to ensure that the appropriate Risk related activities are preformed based on the analysis of that client data and in accordance with AML policies. This information is critical in our efforts to comply with internal risk avoidance efforts and external compliance requirements.

Responsibilities

• Effectively manage processes for the client, ensuring a high level of operational delivery to customers. Maintain day to day client relationship activities and provide input, preparation and support to team members
• May provide recommendations to ensure that the process (from preparation to approval) is equipped with the appropriate checks and balances to ensure accuracy.
• Serves as the escalation point for issues regarding client profiles, keeping leadership apprised of potential areas of concern. Collaborates with internal stakeholders from other functions to help coordinate AML/KYC/Prevention procedures and policies in overall compliance strategy
• Communicates with internal stakeholders like Global Financial Crime, MLRO’s and external stakeholders like sales/FLU to resolve any issues in the course of client Onboarding
• Review Complex client structure and provide guidance to the AML Ops team to ensure all requirement are accurately met. Maintain a current understanding of global issues, risk and events that could affect a client risk level.
• 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 associates and address the team’s training deficiencies noted
• Keep Leadership apprised of up to date status of Legal Entities and which may go for potential escalations and Reporting of issues of concern to Operations Support, Senior Leadership
• Oversee the work of Team to ensure it of the highest Quality standards, ensure that the team operates efficiently adheres to Policy & Procedures
• Serve as a first point of contact in an event of any Query comes from regulatory/internal control audit team
• Raise Rebuttal request on the system portal post discussion with team member in case of any incorrect defect marked by Internal Quality Team
• Demonstrate flexibility to manage activities across sites as required and Manage client and cross site team contacts effectively
• Lead/Share insights and subsequent action plans on daily/weekly/monthly calls e.g. operations call, Risk Call, Productivity calls, etc.
• Taking exceptional calls where there is a challenge in obtaining the requirement from client and also help with the 4 – eye check

Requirements

Education : Any Graduate

Certifications : Preferable ACAMS Certification

Experience Range : 6-8 Years Relevant Experience in AML/KYC/CDD in similar function.

Foundational skills : In depth knowledge of AML / KYC requirements. Knowledge of Global Market/Trade Life Cycle / Banking Products is a Plus

Desired skills

• Knowledge of AML/CTF and Sanctions is essential. Must be working in a similar role with in 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.
• Advanced communication and presentations skills
• Problem solving and Decision-making skills
• Focus on quality along with an ability to read, understand and adhere to procedures.
• Should have the appropriate communication skills to deal with the complex and rapidly changing situation
• Participate in most conversations and discussion on variety of topics related to AML/KYC
• Provide support to all the members across sites through mentoring
• Familiarity with Global Banking and market products and knowledgeable of regulatory environment, risk framework, policies & standards.

Work Timings: As per Business requirement (Must be willing to work in Nightshift (6:30pm – 3:30am))

Job Location: Hyderabad