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. 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. We're 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*

Currency Reporting unit is responsible for filing of Currency Transaction Report & Designation of Exempt Person along with saving Monetary Instrument logs. CRU is involved in monitoring of cash activity and perform customer due diligence to fulfil Bank Secrecy Act requirements. Currency Reporting Unit performs following functions:

CTR Large Currency Reporting - Files Currency Transaction Report to comply with Bank Secrecy Act which requires every financial institution to report all cash transactions greater than $10,000.00 to FinCEN. This may be single or aggregated transactions that occur on the same business day for the same individual/ business. Such transactions include, but are not limited to, deposits, withdrawals, purchases of negotiable instruments, wire transfers (funded by cash), currency exchanges, loan proceeds.
Monetary Instrument Sales – Reviews & files Monetary Instrument Purchase Logs for customers who perform cash purchase of Monetary Instruments between $3,000 and $10,000.

Job Description*

Research & validate the reporting status of the transaction received through OneSumX application every day
Resolve any missing/incomplete information on the transaction required to be filed with the regulator
Update transaction details along with customer information on the OneSumX application as per procedures
Financial Center outreach to source missing/incomplete information along with issuing errors to the Tellers
Status the transaction as per procedure

Responsibilities*

Identify, research and status records captured by the system
Request CTR/MIPL information as necessary from banking centres
Mark Error to Financial Centres for incomplete/missing CTR information
Status transactions captured by the system and records input by banking center associates
Report potential suspicious activity when it is discovered

Requirements*

Education*

Commerce Graduates (preferably Hons.)/ Finance Graduates

Certifications If Any

Experience Range*

1 to 6 Years (External)

Foundational skills*

Communication Skills – Written & Verbal
BSA knowledge relative to AML
Knowledge of AML/KYC
Knowledge of Banking domain
Strong attention to detail

Desired skills:

Attention to details
Computer literate and have intermediate knowledge of Excel
Team Player
Willing to work on rotational shifts

Work Timings*

12:30 - 21:30 (Mon to Fri)

Job Location*

Gurugram

Senior Team Member