Consultant-Data Mining/Whse - AVP: Sanctions Screening Center of Excellence

Key Skills

Microsoft-Excel, Java Programming, Python Programming, SQL, Aartificial intelligence, Machine learning techniques, Writing, Data Mining, Powerpoint, Effective communication skills, Data management

Job Description

Center of Excellence for Economic Sanctions Screening is part of Global Payment Operations (GPO). GPO is the central hub for Bank of America in playing a monumental and mission critical role in establishing, servicing, supporting and monitoring two of the most widely used electronic payment processing vehicles – Wire and ACH – in the financial services arena worldwide. Globally, we process more than 500K wire payments valued at > $1.38T processed daily, International ACH Average of 505K payments valued at >$6.5B processed daily and US ACH Average of 20M ACH payments valued at $68B processed daily. Additionally, GPO is also accountable for the CoE that reviews all of Bank of America’s customers and transactions to ensure compliance with Bank of America’s Economic Sanctions Program. CoE serves all eight lines of business across Bank of America, delivering global, regional and local capabilities through secure, fast and reliable technology, and people with the knowledge and experience to deliver timely and accurate review of all sanctions alerts across all products of Bank of America. Team also has the responsibility to provide support to client facing teams and clients where needed to educate on compliance program, help front line unit’s drive to improve quality of data that defines the customer and their day-to-day banking transactions. We are responsible for scanning on average 6M sanction transactions and reviewing on average 22K sanction alerts daily.

In general, the role of the Sanctions CoE Data Mining Consultant is as follows:

• Primary responsibility is to create / update business rules to minimize the false-positive Sanctions alerts to improve efficiency and effectives of the CoE’s alert review process.
• Manage the multiple on-going initiatives by attending calls from various projects, understand the Sanctions needs from the projects, Provide requirements to the projects and track the status of these projects.
• Analyze alerts on a daily basis to chalk out strategies to reduce the false-positives, using different pattern matching and trending techniques
• Assist in on-boarding new applications / Clients into the Sanctions screening platform requiring detailed discussions with various lines of businesses in understanding the nature and type of data received from and assist in data mapping into standard formats acceptable for Sanctions screening
• Ability to query & analyze the data required for ad hoc requirements on the fly and generate reports for the team to use.
• Work with technology teams for requirements / testing and implementing changes to improve / automate CoE processes.

Required Qualifications:

• Bachelor's degree in Computer Science, Data Management, Statistics or related fields
• Awareness of AI / Machine learning concepts and ability to implement such strategies
• Demonstrated experience in Data Analytics and interpretation of large volumes of Data
• Scripting experience with any language like Python, Java, VB
• Analytical and detail oriented.
• Demonstrated strong oral and written communications skills.
• PC proficiency and excellent Keyboarding/Typing skills.
• Ability to work independently, as well as, within a team.
• Overtime as required

Desired Qualifications:

• Advanced knowledge in SQL and using tools like TOAD
• Knowledge of Economic Sanctions programs requirements
• Experience in Global Banking & Markets business process is a plus
• Experience in Sanctions screening applications like Fircosoft
• Has good data transformation / formatting experience and be able to work with data in different formats
• Good logical thinking capabilities with a technical mind-set
• Advanced knowledge in using Microsoft Excel and MS Access
• Good Knowledge in using Microsoft products Word, Outlook, Power-point and Visio
• Team player attitude, enthusiasm and commitment
• Ability to prioritize, use own initiative, make quick decisions, be flexible and work independently
• Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.