Director, Global Financial Crimes Manager

2 days ago

Kuala Lumpur, Kuala Lumpur, Malaysia Bank of America Full time

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 is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

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

Job Description:

This position is for a Global Financial Crimes Manager to serve as the Money Laundering Reporting Officer (MLRO) for Malaysia. The company's local and global regulators require that the Firm in Malaysia has a central contact point for AML/CTF issues and suspicious activity filing in Malaysia. The MLRO for Malaysia, under supervision, is responsible for implementing both the global Financial Crimes Policy and any local requirements.

The MLRO will be responsible for developing and maintaining all jurisdictional and policy requirements for financial crimes in country, in accordance with the requirements of Company's Global Financial Crimes Policy, to include the maintenance of the inventory of laws, rules and mentorship which form the jurisdiction's legal framework relating to financial crimes compliance.

Responsibilities:

The Global Financial Crimes Compliance ("GFC") Manager under supervision, assists Global Financial Crimes Compliance executives and managers in any of the following activities in support of the identification, escalation and timely mitigation of compliance risks in alignment with the Compliance Risk Management (" CRM") Program and the Financial Crimes Global Policy:

  • Identifying relevant regulatory change, updating the Malaysia Country Standard, and notifying relevant stakeholders of the change and potential impact.
  • Conducting financial crimes risk assessments when required by either GFC or local regulatory requirements.
  • Identifying, building and executing appropriate monitoring and testing activities.
  • Identifying and reporting any matter relating to the implementation or execution of the Company's Financial Crimes Compliance Policy and Standards, as applicable, to the Financial Crimes APAC Executive and Country Management Team.
  • The provision of meaningful management of information, including review and production of Key Risk Indicators and Key Performance Indicators.
  • Execute governance and management routines.
  • Leading the completion and timely submission of any regulatory reporting required under the legal framework of the jurisdiction.
  • Lead or handle, as applicable, any internal Corporate Audit or regulatory examination conducted by a regulator in the jurisdiction for which the MLRO is responsible, in line with the Company's Regulatory Exam Standards.
  • Leading and overseeing the GFCC training curriculum for the legal entities in Malaysia.
  • Specific Accountabilities relating to Investigations. MLROs are accountable for analysing, investigating and resolving any investigative case assigned to them, as defined by regional or local practices, and making any necessary regulatory reporting.

Required Skills:

  • At least ten (10) years' experience in a similar or related role in a financial institution, legal or consultancy firm or with a regulatory authority.
  • Anti-money laundering/financial crimes experience in a financial institution or government position in a Financial Services institution and/or related government entity is strongly desired.
  • Excellent written and verbal communication skills and solid influencing capability across all levels of management including very senior management and board levels and with regulators in Malaysiaese or elsewhere in Asia.
  • An established network in the Malaysian regulatory and AML community.
  • Excellent relationship management skills.
  • Can make decisions in a rapidly changing environment.
  • Ability to self-identify priorities, deliver to deadline and handle challenging demands and partners.
  • Great teammate, willing to interact and discuss issues in a team environment, and take pride in your work.
  • Sound risk management skills and an ability to apply discernment, take decisions when required and to raise when necessary.
  • A flexible and solution driven perspective, able to solve problems and a determination to seek answers to complex issues.
  • The ability to synthesize laws, rules and regulations into practice.

Desired Skills:

  • CAMS Certification.
  • Experience in dealing with regulators.
  • Genuine interest in the securities markets and banking world, regulation and changing legislation.
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