About this role
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. 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!
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
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
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 and USInvestigate the transactions through open search; Bank of America customers to be looked on Interact; OWLS; Lexis Nexis; GESCM to be used to check on prior casesEscalate the close hits / potential hits to the next level (L2)Process the transactions from the OFAC queues within the currency cut offs/application deadlineWork as per the Sanctions Queue allocation and raise any concernsReview and Monitor all currency cut offs across branchesComply with the KPIs and KRIsReport any escalations immediately and ensure timely resolutionMust be fully conversant with Windows based IT systems, e.g., Word, Excel, PowerPoint, Outlook and Access Requirements
Education
Graduate (B.Com)
Certifications If Any
Experience Range- 3-8 years
Foundational skills
Experience In Sanctions Review process, Strong Payments knowledge (Swift),Good Communication SkillsQuick adaptation to changing Regulatory and Sanctions Landscape Desired skills
Ability to conduct deep dive research, Preferred exposure to FircoSoft application Work Timings
Sanctions Screening COE operates 24X7, Shift can be rotational including Night ShiftWillingness to work on Weekends with a rotational week off. Weekly off-fixed / Split off Job Location*: Hyderabad