Senior Team Member

Job Description:

Overview

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.

We are a part of the Global Business Services which delivers technology and operations capabilities to Bank of America lines of business (LOB) and enterprise functions.

Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
• BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview

Sanctions Review team currently performs Sanctions Screening in FircoSoft system for all payments entities, settlements and trade transactions for Asia, EMEA & US at Enterprise level.
All the payments whether manually created on GBS, FPS, or STP and Trade transactions passes through Fircosoft and RLSU filtering channels for sanctions review

Job Description

Sanctions Review team performs reviews for all transactions in conjunction with GES and complete the review on FircoSoft application. Team, also performs Investigation for additional information requested by Global Economic Sanctions team

Responsibilities

Review the Global Economic Sanctions hits on Fircosoft for Asia Branches (Except India), EMEA Branches (Except Greece) and US
Investigate the transactions coming in to the queue for additional information required by GES (Global
Economic Sanctions)
Monitor the group mailbox
Investigate the transactions which are rejected for any possible OFAC Sanctions reasons
Be a subject matter expert and train the new joiners in the team
Review the Global Economic Sanctions hits on Fircosoft for printed checks (DPS files)
Escalate the close hits / potential hits to GES or Local Compliance
Process the transactions from the OFAC queues within the currency cut offs
Review and Monitor Sanctions Queues across profiles
Review and Monitor all currency cut offs across branches
Report any escalations immediately and ensure timely resolution
Prepare/Review EOD reports across branches and ensure appropriate monitoring of the same
Prepare monthly process dashboards as per schedule
Report, monitor and escalate any cut off miss / OTD error