BofA to Hire Crypto Policy Expert for its Regulatory Moves

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Bank of America (BofA) has announced that it is accepting applications for a crypto-related position in its institution.

According to a LinkedIn advert posted, the Washington D.C financial institution needs a ‘Public Policy Analysis & Insights Manager – Crypto’ who will monitor and track legislative and regulatory actions. So far, only 27 applications have been submitted based on the LinkedIn post.

The job position which has been open for one week now is for an expert who is capable of identifying the key risks associated with emerging fintech especially, the threats it could pose to the business. Supporting the work of Federal Public Policy and State Government Relations in the aspect of building sustainable relationships will be one of the primary duties of this expert.

The successful applicant will support the company’s leaders and develop a policy framework that will guide policy debates through evidence-based research and sustained stakeholder engagement to respond to and address socioeconomic and environmental challenges of the 21st century. 

Additionally, he will be expected to make sound, data-driven policy recommendations, and solutions that support the company’s dual mandate to drive responsible growth. 

BofA Deepens Roots in Crypto With New Hire

As stated in the job posting “We seek a Policy Analysis & Insights Manager who will identify emerging issues and evaluate the potential impact to the enterprise, with a primary focus on fintech/cyber/AI/crypto/stablecoins/blockchain.”

Encompassing, the candidate stands to be responsible for “analyzing proposed policy measures, developing and executing advocacy strategies that align with business goals, industry coalition building, drafting proposed legislation, amendments, and comments to regulations, preparing analyses, position papers, executive summaries, and reports, and drafting external communications including testimony for legislative and regulatory bodies.”

The ideal applicant who must be policy-oriented is expected to have more than two years of experience in the crypto market and with cryptocurrencies. More institutions and legal experts are showing a growing interest in digital assets and this is evident in the increasing number of crypto hires that have made rounds recently.

United States investment bank JPMorgan Chase announced its intention to hire someone to push institutional payments products onto new crypto, Web3.0, and metaverse clients. Earlier this year, Google also deepened its root in crypto by employing a former PayPal executive to help bolster Google Pay.

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