AML Onboarding Analyst - Business Banking

Bank of America • New York, NY

4d • $60,000 - $115,000 • Onsite

About The Position

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve. Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! Job Description: This job is responsible for providing analytical support in a Global Markets Operations function for one or more operations product areas. Key responsibilities include analyzing and resolving highly complex operations problems and initiatives requiring exceptional handling and coordination of multiple operational and/or product specialists to resolve. Job expectations include managing projects and the introduction of new initiatives, systems, products, services, and processes and coordinating necessary expertise across multiple operations functions and products. Role Overview: The AML Onboarding Analyst supports the onboarding of new Business Banking clients by performing required Anti‑Money Laundering (AML) and Know Your Customer (KYC) checks. The role ensures all customers meet regulatory and internal compliance standards before account opening or product activation.

Requirements

• Attention to Detail
• Critical Thinking
• Data Collection and Entry
• Recording/Organizing Information
• Research
• Fraud Management
• Interpret Relevant Laws, Rules, and Regulations
• Problem Solving
• Quality Assurance
• Risk Management
• Adaptability
• Customer and Client Focus
• Prioritization
• Result Orientation
• Written Communications
• Strong attention to detail and ability to work with accuracy in a regulated environment.
• Good understanding of basic AML/KYC concepts and financial crime risks.
• Strong communication skills for interacting with frontline teams and clients where needed.
• Ability to manage multiple cases simultaneously in a fast‑paced environment.
• Competent with Microsoft Office (Excel, Outlook, Word) and ability to learn onboarding systems.
• Degree or equivalent work experience preferred, ideally in finance, business, law, or a related field.

Nice To Haves

• Prior experience in banking operations, AML, onboarding, or customer due diligence (internships or entry roles welcome).
• Familiarity with business banking clients (SMEs, corporates, partnerships, sole traders).
• Exposure to sanctions, PEP screening tools, or workflow case management systems.
• AML/KYC certifications (e.g., ICA, ACAMS) are a plus but not required for junior roles.

Responsibilities

• Confirms loan documentation for accurate trade settlements
• Partners with Sales Associates, Traders, Research Analysts, trading counterparties, internal and external attorneys, administrative agent banks, and various other internal operations groups
• Manages post-trade management and logistics, settlement pricing, and closing coordination
• Analyzes and resolves highly complex operational problems
• Supports ad-hoc projects for new processes or industry initiatives
• Processes loans end-to-end with accurate data input into various credit and operating systems
• Collect and validate onboarding documentation for business clients (e.g., company registrations, ownership structure, financial statements).
• Perform CDD reviews for low‑ and medium‑risk business clients under supervision.
• Assist with identifying and verifying beneficial ownership (UBOs), directors, and authorized signatories.
• Conduct screening against sanctions lists, PEP lists, and negative news databases using internal systems.
• Escalate potential matches to senior team members or the Financial Crime team for review.
• Apply internal AML/KYC standards and ensure documentation meets quality requirements.
• Support initial risk scoring of customer profiles and identify inconsistencies or missing information.
• Work with Relationship Managers, Business Banking teams, and Compliance to resolve documentation gaps.
• Maintain accurate, up‑to‑date records in onboarding and workflow systems.
• Ensure onboarding cases are completed within agreed SLAs and regulatory timelines.
• Follow standard operating procedures and contribute to continuous improvement initiatives.
• Assist with periodic reviews and housekeeping of customer files where required.

Benefits

• This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
• This role is currently benefits eligible.
• We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Education Level: Associate degree