Team Leader

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*

The Sanctions Review team performs sanctions screening in the FircoSoft system for payment entities, settlements, and trade transactions across Asia, EMEA, and the US at the enterprise level.
Payments created manually through GBS, FPS, or STP, along with trade transactions, are routed through FircoSoft and RLSU filtering channels for sanctions review.

Job Description*

The Sanctions Review team reviews all transactions in coordination with GES and completes assessments in the FircoSoft application. The team also investigates requests from the Global Economic Sanctions team for additional transaction information.

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 and ensure timely resolution & control
• In case of any error on releasing the transaction, take all measures to inform GES proactively
• In case of any error on releasing the transaction, seek help from the branch / Operation teams to recall the funds such that the funds do not reach the beneficiary / beneficiary bank
• Identify and address knowledge gaps in the process across profiles
• Assist and adhere to any audit schedules applicable
• Comply with the CTQ (Critical to Quality)
• Must be fully conversant with Windows based IT systems, eg, Word, Excel, PowerPoint, Outlook and Access

Requirements*

Education* - Graduate (B.Com)

Certifications If Any

Experience Range* 5-8 years of experience

Mandatory skills* Experience in Sanctions Review process, Strong Payments knowledge (Swift) and good communication skills.

Desired skills* Strong ability to conduct detailed research, with preferred exposure to the FircoSoft application

Work Timings*

Staggered Night Shifts - 5:30 PM to 5:30 AM (Any 9 Hours shift on rotation basis).

Job Location* - Chennai