Team Leader

Job Description

Team Leader - R Hyderabad, Telangana, India Additional Locations

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: 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. Were 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.

Process Overview

KYC team ensures an environment where the 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 the most updated documentation/information updated for clients maintaining a relationship with Bank of America.

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 performed 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 the overall compliance strategy.
• Communicates with internal stakeholders like Global Financial Crime, MLROs, 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 requirements 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 and review QA/QC results from Quality Control team associates and address the teams training deficiencies noted.
• Keep Leadership apprised of the up-to-date status of Legal Entities which may go for potential escalations and Reporting of issues of concern to Operations Support, Senior Leadership.
• Oversee the work of the team to ensure it meets the highest Quality standards, ensuring that the team operates efficiently and adheres to Policy & Procedures.
• Serve as a first point of contact in the event of any query from the regulatory/internal control audit team.
• Raise rebuttal requests on the system portal post discussion with team members in case of any incorrect defect marked by the 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.
• Handle exceptional calls where there is a challenge in obtaining the requirement from the 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 a 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 within the Banking and Capital Markets Industry.
• Knowledge of various corporate structures e.g. Funds, Trusts, Partnerships, SPVs, Complex Structures, SPF/PEP, Negative News, etc.
• Advanced communication and presentation 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 complex and rapidly changing situations.
• Participate in most conversations and discussions on a 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 the regulatory environment, risk framework, policies & standards.

Work Timings

As per business requirement (Must be willing to work in Nightshift 6:30 PM 3:30 AM).

Job Location

Hyderabad

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