Global Payments Solutions (GPS) Product Risk Execution (CashPro)

Bank of America • Charlotte, NC

3d • $129,500 - $232,400 • Onsite

About The Position

Bank of America is hiring for its Product Risk Execution team within the Global Payments Solutions (GPS) organization. The team develops best practices, streamlines processes, and supports product managers with specialized expertise across product risk management. Product managers remain responsible for risk in their products, and product executives retain responsibility for their governance routines.

This role enables risk management execution across the CashPro Product team and supports high-quality product risk governance across issues management, Single Process Inventory (SPI), audit management, targeted risk assessments, third-party risk, law/rule/regulation and clearing-rule management, and Product Risk Assessment (PRA) processes. The role engages senior leaders and control partners, manages regular risk review routines, and drives and quality-checks risk assessments and documentation. It reports directly to the Global Head of GPS Product Risk Execution and has a matrix reporting relationship to the CashPro Risk Executive.

The position is based at the listed Bank of America offices in Chicago, Illinois, or New York, New York. It is a first-shift role with a 40-hour workweek. The annual pay range is $129,500 to $232,400, with offers determined based on experience, education, and skill set. The role is eligible for an annual discretionary incentive plan and benefits, including paid time off.

Requirements

• Proven experience in both Transaction Banking product management and risk management.
• At least 3 years of Transaction Banking or Cash Management product management or product development experience; a Payments background is preferred.
• At least 3 years of risk management experience in business controls, operational risk, compliance, financial crimes, audit, sanctions, or AML.
• Experience managing discussions with internal Audit, Compliance, and external regulators.
• Experience leading and executing large-scale projects across cross-functional partners within a large, global financial institution.
• Bachelor's degree required.

Nice To Haves

• Familiarity with the banking and payments regulatory environment.
• Familiarity with sanctions-related regulations and impacts relevant to Transaction Banking.
• Familiarity with upcoming alternative payment methods in the market and their regulations.
• Ability to work in a demanding, fast-paced global environment and adapt to rapid change.
• Self-starter able to act independently, drive execution, follow through on tasks and commitments, and recognize when group consensus is required.
• Ability to leverage globally distributed, cross-functional teams to prioritize, plan, and execute while adapting to changing priorities.
• Ability to work through details and complexity, provide high-level simplicity for senior management, and recommend workable solutions.
• Ability to drive alignment through efficient facilitation and presentation, synthesizing multiple inputs into a cohesive approach.
• Creative approach to delivering business results independently and as part of a team.
• Intellectual curiosity, confidence, strong communication and work ethic, and interest in continuous improvement and challenging the status quo.
• Excellent interpersonal, written and verbal communication, and relationship-building skills across organizational levels.
• Skills listed: Leadership Development, Product Design and Development, Product Management, Project Management, Strategy Planning and Development, Innovative Thinking, Performance Management, Process Management, Relationship Building, Agile Practices, Business Acumen, Business Development, Oral Communications, and Process Effectiveness.

Responsibilities

• Enable risk management execution across the CashPro Product team.
• Ensure high-quality product risk governance across Issues Management, Single Process Inventory (SPI), Audit Management, Targeted Risk Assessments, Third Party, Law Rule Reg & Clearing Rule Management, and Product Risk Assessment (PRA) processes.
• Engage and influence senior leaders and control partners, including Business Controls, COO, Global Banking Risk, Global Financial Crimes Compliance (GFC), and Global Compliance and Operational Risk (GCOR), as well as Operations & Technology stakeholders on GPS risk matters.
• Manage regular routines with Product executives and partners to identify and review open issues, watch items, upcoming regulations, and the new product initiatives pipeline.
• Drive and quality-check Product Intake assessments, Product Risk Assessments (PRAs), Single Process Inventories (SPIs), issue documentation, action plans, closure documentation, and other risk deliverables based on Product Manager inputs and enterprise expectations.
• Lead SPI owners on risk and controls assessments, including identifying processes and advising on creation and updates of SPIs.
• Lead regulatory change management when needed, including timely assessments, past-due items, and escalations in alignment with the regulatory change management process; escalate conflicts in legal and regulatory requirements as appropriate.
• Advise Product Managers, when needed, on responding to audit questions and information requests, Targeted Risk Assessments from second-line functions such as GCOR and GFC, and regulatory engagements including questions, consultations, inspections, and exams.
• Monitor key risk indicators across GPS products, including key control metrics, operational losses, client-related complaints, and issues management (Self-Identified Issues, Risk-Identified Issues, and Control Enhancements).

Benefits

• Benefits eligibility.
• Paid time off.
• Access to resources and support for employees.
• Eligibility to participate in the annual discretionary incentive plan.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level