At Bank of America, the business problem is to generate ideas on best practices for new products and assist in the review of product development requirements, while driving Responsible Growth and delivering for clients, teammates, communities, and shareholders.
Requirements
- 1-2 years of experience in payments/transaction services and risk management
- 2 years product management or product development experience
- Proficiency in standard office tools, data analytics tools a plus
- Transaction Banking/Cash Management/Trade Finance Risk experience within a large, global financial institution
- Executing large scale projects across cross functional partners
- Analytical Thinking
- Critical Thinking
- Product Design and Development
- Product Management
Responsibilities
- Supports end to end risk management across Global Payment Solutions (GPS), with a focus on Risk across the Global Payments team (Payments, Receipts, Card, Trade, Banknotes and Liquidity.)
- Represents GPS product organization in key initiatives, including fraud risk monitoring / strategy, economic sanctions monitoring, risk evaluation of new product development, and law, rule, reg changes applicable to products.
- Coordinates and influences across various control partners such as Business Controls, COO, Global Banking Risk, Financial Crimes Compliance, Global Compliance and Operational Risk (GCOR), and other non- LOB partners on GPS risk matters
- Manages regular routines with Global Product including Executives, Product Managers & Other Partners to identify, track and review current open issues (SIIs, CEs, etc.), watch items, upcoming regulations & new product initiatives pipeline.
- Supports regulatory implementation projects and ensure regulatory requirements are clearly understood. Escalates issues or conflicts in legal and regulatory requirements as appropriate.
- Supports Sales and Product teams on Sanctions, Fraud, AML risk related issues including co-ordination and follow-up with Economic Sanctions compliance and Ops teams
- Leads, organizes, and maintains relevant risk related data on Global Payment Systems in which the Bank participates
Other
- Ability to work in a demanding, fast-paced global environment, with flexibility towards rapid change
- Ability to leverage cross-functional, globally disbursed, teams to prioritize, plan and execute, while retaining the agility to adapt to changing priorities
- Ability to wade through details and complexity, yet return high-level simplicity for senior management, and ultimately recommend workable solutions
- Ability to Drive alignment via strong and efficient facilitation and presentation capability, synthesizing multiple inputs into a cohesive approach
- Minimum Education Requirement: Bachelors Degree or equivalent work experience
