Global Payments Solutions (GPS) Product Risk Execution

Bank of America • Charlotte, NC

10d • $129,500 - $232,400 • Onsite

About The Position

Join the Product Risk Execution team within Bank of America’s Global Payments Solutions (GPS) organization. The team develops best practices, streamlines processes, and helps product managers execute product risk activities through specialized expertise. 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 Global Liquidity Product team and supports high-quality product risk governance. It works with product executives, control partners, and other stakeholders to manage risk routines, prepare and review risk deliverables, oversee process and control assessments, address regulatory change, support audits and regulatory engagements, and monitor key risk indicators.

The position reports directly to the Global Head of GPS Product Risk Execution and has a matrix reporting relationship to the Global Liquidity Executive. It is a first-shift role based in Chicago, Illinois, or New York, New York. 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; payments experience 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 and Compliance and external regulators.
• Experience leading and executing large-scale projects across cross-functional partners within a large, global financial institution.
• 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 and related regulations.
• Ability to work in a demanding, fast-paced global environment and adapt to rapid change.
• Ability to act independently, drive execution, follow through on tasks and commitments, and recognize when group consensus is needed.
• Ability to leverage globally distributed, cross-functional teams to prioritize, plan, and execute while adapting to changing priorities.
• Ability to analyze detail and complexity, communicate high-level summaries to senior management, and recommend workable solutions.
• Strong facilitation and presentation skills, including synthesizing multiple inputs into a cohesive approach and driving alignment.
• Ability and desire to think creatively and deliver business results independently and as part of a team.
• Intellectual curiosity, confidence, strong work ethic, and interest in continuous improvement and challenging the status quo.
• Excellent interpersonal, written and verbal communication, and relationship-building skills across all organizational levels.
• Bachelor’s degree required.

Nice To Haves

• Payments background in Transaction Banking or Cash Management product management or product development.
• 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 and related regulations.
• Ability to work in a demanding, fast-paced global environment and adapt to rapid change.
• Ability to act independently, drive execution, follow through on tasks and commitments, and recognize when group consensus is needed.
• Ability to leverage globally distributed, cross-functional teams to prioritize, plan, and execute while adapting to changing priorities.
• Ability to analyze detail and complexity, communicate high-level summaries to senior management, and recommend workable solutions.
• Strong facilitation and presentation skills, including synthesizing multiple inputs into a cohesive approach and driving alignment.
• Ability and desire to think creatively and deliver business results independently and as part of a team.
• Intellectual curiosity, confidence, strong work ethic, and interest in continuous improvement and challenging the status quo.
• Excellent interpersonal, written and verbal communication, and relationship-building skills across all organizational levels.

Responsibilities

• Enable execution of risk management across the Global Liquidity 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 among control partners, including Business Controls, COO, Global Banking Risk, Global Financial Crimes Compliance, Global Compliance and Operational Risk, and Operations & Technology 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-assure development of Product Intake assessments, PRAs, SPIs, issue documentation, action plans, closure documentation, and other risk deliverables based on product manager input 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 issues or 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 groups, and regulatory engagements such as 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
• Annual discretionary incentive plan eligibility
• Resources and support for employees

What This Job Offers

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