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 role is responsible for supporting the execution and strengthening of the Bank’s Financial Crimes Compliance framework across Anti-Money Laundering (AML), Economic Sanctions, and Fraud Risk Management. The position has primary accountability for China coverage, including governance, regulatory alignment, and risk oversight, while supporting broader Asia Pacific (APAC) initiatives and regional programs. The role contributes to the development and implementation of enterprise-wide fraud governance, ensuring alignment with global standards while addressing local regulatory expectations across key China locations. The role partners closely with Global Financial Crimes (GFC) executives, regional leadership, and in-country stakeholders to proactively identify, assess, and escalate compliance and operational risks, and to drive timely and effective mitigation actions. Responsibilities are performed in alignment with the Compliance and Operational Risk Management (CORM) Program, Global Financial Crimes and Compliance Enterprise Policies, and Enterprise Fraud Risk Management Standards. This role also contributes to regional and global fraud governance frameworks and processes, ensuring China-specific regulatory requirements are appropriately represented while maintaining alignment with enterprise standards.
Responsibilities:
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Support execution of the Financial Crimes Compliance program across Asia Pacific, with primary coverage responsibility for China and broader regional contribution across North Asia including regulatory change, policy and procedure governance, risk assessments, issue management, monitoring and testing, and global/regional initiatives.
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Maintain and enhance the China financial crimes governance framework, with particular focus on anti-fraud and AML controls, ensuring alignment with local regulatory expectations (including NFRA LRRs), regulatory intent, and Enterprise Financial Crimes standards
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Support China branches in interpreting and operationalizing AML, sanctions, and fraud regulatory requirements, ensuring effective integration into governance, policies, and control frameworks
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Support the review and periodic update of China AML and anti-fraud standards, policies, and procedures, incorporating evolving financial crimes typologies, regulatory developments, and global policy changes
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Conduct financial crimes risk assessments (including AML and fraud) and perform independent second-line monitoring to assess and challenge control effectiveness, ensuring alignment with regulatory requirements and the Bank’s risk appetite
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Act as a second line of defense, providing independent advisory, effective challenge, and oversight to Front Line Units (FLUs) and control functions on the design, implementation, and effectiveness of AML, sanctions, and fraud risk management practices and controls
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Monitor and assess financial crimes-related regulatory developments in China, including AML/CFT and fraud related requirements and conducting impact assessments to ensure timely implementation and adherence to the China LRRs.
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Coordinate and support regulatory engagement activities, including AML and fraud-related submissions, surveys, reporting, inspections, and supervisory interactions
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Review and provide effective challenge on financial crimes assurance activities, including FLU-led AML and fraud risk assessments (e.g., new product reviews, customer risk assessments, thematic self-assessments) and control function reviews
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Perform independent second-line review and challenge of AML and fraud-related investigations, including suspicious activity reviews and escalations, ensuring quality, consistency, and appropriateness of outcomes
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Provide risk oversight and challenge on financial crimes-related system enhancements, including transaction monitoring, name screening, and fraud detection platforms (e.g., Anti-Fraud Uniform Platform), ensuring alignment with compliance risk management standards
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Deliver transparent and timely reporting on financial crimes risk matters (e.g., AML alerts, suspicious activity trends, fraud losses, control issues, key risk indicators, significant events), ensuring appropriate escalation to GFC and local governance forums
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Contribute to risk coverage plans and execute independent monitoring, testing, and thematic risk assessments across AML and fraud risk areas
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Support the identification, aggregation, reporting, and escalation of financial crimes issues, including AML and fraud-related thematic analysis and oversight of FLU/control function remediation efforts
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Review and challenge remediation plans and control enhancements, providing oversight to ensure AML and fraud issues are addressed effectively and sustainably
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Support continuous improvement of financial crimes risk management processes and controls, contributing to both China-specific enhancements and broader regional/global governance initiatives
Requirements:
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Subject matter expertise in fraud risk management, including fraud governance, detection, typologies, investigations, and control frameworks, with demonstrated experience in designing, overseeing, and enhancing fraud risk programs
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Strong working knowledge of Anti-Money Laundering (AML) and sanctions frameworks, with the ability to effectively integrate AML considerations into broader financial crimes risk management
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Proven experience in second-line risk management, providing independent oversight, credible challenge, and advisory across fraud and broader financial crimes disciplines
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Strong understanding of China fraud regulations and broader Asia Pacific regulatory frameworks, with particular focus on China AML/CFT and sanctions requirements
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Ability to interpret and translate regulatory requirements into practical governance and controls
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Strong communication and stakeholder management skills with the ability to influence both local and regional stakeholders
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Demonstrated critical thinking and analytical capability, with the ability to assess complex risk scenarios, challenge assumptions, and provide sound, risk-based judgment
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Strategic mindset with the ability to balance China regulatory priorities with broader APAC alignment, ensuring effective integration of local requirements within regional and global frameworks
