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

Job Description:

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success.

This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
Opportunity in the Product Risk Execution team, within the Global Payments Solutions (GPS) organization. The Product Risk Execution organization reflects our commitment to elevating risk management to become a strategic function and enabler of Responsible Growth. This team develops best practices, streamlines processes, and enables execution of risk activities by supporting product managers with expertise and specialization on all aspects of product risk management. Product managers remain responsible for risk in their product, and product executives retain responsibility for their governance routines.

Job Description & responsibilities

•              Direct report to the Global Head of GPS Product Risk Execution, matrix report to CashPro Risk Executive

•              Enable execution of risk management across the CashPro Product team. Ensure high quality of 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 across senior leaders of various control partners such as Business Controls, COO, Global Banking Risk, Global Financial Crimes Compliance (GFC), Global Compliance and Operational Risk (GCOR), and other key stakeholders such as Operations & Technology on GPS risk matters

•              Manage regular routines with Product executives & other partners to identify and review current open issues, watch items, upcoming regulations & new product initiatives pipeline.

•              Drive and QA development of Product Intake assessments, Product Risk Assessments (PRAs), Single Process Inventories (SPIs), Issue documentation, action plans, closure documentation and other Risk deliverables based on inputs from Product Managers and in line with the enterprise expectations

•              Lead SPI owners on risk & controls assessment including identifying processes, and providing advisory on creation and updates of SPIs.

•              Lead, when needed, on regulatory change management, 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’s questions and requests for information, Targeted Risk Assessments (TRAs) from 2nd line (GCOR / GFC etc) or regulatory engagements (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, Control Enhancements)

Required Skills:

-•             Candidates are required to have proven experience in both Transaction Banking produc…