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Assistant Vice President/Vice President, Vendor Manager I, Global Vendor Management / Network Management

Singapore, , Singapore;

Job Description:

Your background

  • A working deep understanding of Securities and Payments Operations processing and related laws rules and regulations across multiple lines of business and Asia markets.
  • Drives to flawless execution, holding self and others accountable for high performance standards
  • Demonstrates a productive edge, willing to engage in conflict when necessary
  • Intellectually curious; constantly seeks to learn and advance knowledge and understanding
  • Self-directed, detail oriented, organized, and exercises good judgment.
  • Has strong written and verbal language skills, able to communicate in a clear, concise manner
  • Able to manage competing priorities and work effectively across multiple organizational units
  • Interested in contributing to the organization and is goal-oriented
  • High integrity, energy, and strong interpersonal skills
  • Able to adapt to change.
  • 6+ years-experience in relevant fields
  • Thinks Strategically: Considers market drivers, risks, and business priorities to form fact-based opinions and sound recommendations
  • Demonstrates enterprise perspective when making decision
  • Has a bias towards operational excellence, proactively looking for process improvements.
  • Microsoft Office suite skills, particularly with Excel, PowerPoint and SharePoint.
  • Additional language skills an advantage

What you can expect

Business Unit Overview

Global Vendor Management (GVM) & Corporate Accounts Payable (CAP) are functions of the Global Strategy & Enterprise Platforms group.

The Global Vendor Management and Corporate Accounts Payable Team strive to provide best-in-class enterprise wide third- party support services. Global Vendor Management (GVM) focuses on extensive vendor management and governance programs including relationship management, oversight and compliance adherence supported by EVM/VM teams. Corporate Accounts Payable (CAP) provides global payment services for payees and employees through accurate, timely, and efficient invoice processing which is in compliance with laws, rules and regulations in the countries which we serve.

Global Vendor Management (GVM) responsibility

Global Vendor Management provides enterprise-wide vendor management execution, including development and implementation of compliance and governance measures, oversight and management of third -party relationships, including the management of EVM/VM teams.

Position Description and Key Responsibilities

We are looking for an individual with third party experience in securities and payments processing oversight to become an enterprise vendor manager supporting relationships in Asia. This type of role may also be recognized in the industry as a ‘Network Manager’. This role is critical to support the compliant execution of the third party policy and vendor manager program standard in. It supports the Financial Market Utility (FMU) and Cash and Securities Services (CSS) vendor categories, providing the bank with services such as securities custody and settlement, central counterparty clearing and payments processing. The requirements directly link to the Regulation OCC 2013-29 and other similar laws rules and regulations mandating enhanced due diligence and monitoring around Third Parties providing services to Bank of America and/or our clients.  Vendor Managers have the responsibility to ensure the third parties employed to provide these services continue to be “fit for purpose, regulatory compliant and value for money” and are continually monitored through various department risk assessments, surveys, adherence to service levels and through day to day interaction. Escalations are achieved through a formal set of governance meetings including key stakeholders and risk partners.

What you will do

  • It is responsible for vendor manager activities for a third party portfolio of medium complexity, managing performance, identifying, and mitigating risk. In doing so it will work with the Third Party Portfolio Executives (TPPE) and regional/global Vendor Managers to oversee the compliant execution of the Third Party Program Standard in the Asia region.
  • Executes Vendor Management Program deliverables, ensuring the necessary documentation is completed and implemented consistently across the portfolio through the planning, due-diligence and contracting process.
  • It maintains relationships with third parties and line of business, having equal accountability with Business Process Owners for the end to end third party relationship and associated risk.
  • It will connect with internal line of business, operations, and control partners in the region and global as applicable. He/she will also act as a connection and escalation point to external third party contacts as appropriate and have the potential opportunity to participate within industry forums.
  • This role may act as delegate process owner for multiple lines of business in key aspects of planning and sourcing activities for these outsourced services. It may act as line of business process owner delegate in reviewing strategy and costs associated with in the third party portfolio managed. As such it partners extensively with Global Procurement and other key control partners in addition to the LOB leads regionally as regards input to key decisions such as appointment, termination, and risk acceptance.
  • It may also have engagement in evaluating the Bank’s expenditure with third party partners and providers to ensure effective cost management on an ongoing basis. Regular cost analysis and fee reviews may be required as a part of this role.
  • By its nature it interacts with multiple stakeholders internally but also at external partners, both current and prospective. Such partners are in many cases also clients of BAC and thus appropriate engagement with Corporate Banking and Global Treasury Services leads in the region is a facet of this role

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales, and trading.

Connecting Asia Pacific to the world

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Job Band:

H5

Shift: 

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Your background

  • A working deep understanding of Securities and Payments Operations processing and related laws rules and regulations across multiple lines of business and Asia markets.
  • Drives to flawless execution, holding self and others accountable for high performance standards
  • Demonstrates a productive edge, willing to engage in conflict when necessary
  • Intellectually curious; constantly seeks to learn and advance knowledge and understanding
  • Self-directed, detail oriented, organized, and exercises good judgment.
  • Has strong written and verbal language skills, able to communicate in a clear, concise manner
  • Able to manage competing priorities and work effectively across multiple organizational units
  • Interested in contributing to the organization and is goal-oriented
  • High integrity, energy, and strong interpersonal skills
  • Able to adapt to change.
  • 6+ years-experience in relevant fields
  • Thinks Strategically: Considers market drivers, risks, and business priorities to form fact-based opinions and sound recommendations
  • Demonstrates enterprise perspective when making decision
  • Has a bias towards operational excellence, proactively looking for process improvements.
  • Microsoft Office suite skills, particularly with Excel, PowerPoint and SharePoint.
  • Additional language skills an advantage

What you can expect

Business Unit Overview

Global Vendor Management (GVM) & Corporate Accounts Payable (CAP) are functions of the Global Strategy & Enterprise Platforms group.

The Global Vendor Management and Corporate Accounts Payable Team strive to provide best-in-class enterprise wide third- party support services. Global Vendor Management (GVM) focuses on extensive vendor management and governance programs including relationship management, oversight and compliance adherence supported by EVM/VM teams. Corporate Accounts Payable (CAP) provides global payment services for payees and employees through accurate, timely, and efficient invoice processing which is in compliance with laws, rules and regulations in the countries which we serve.

Global Vendor Management (GVM) responsibility

Global Vendor Management provides enterprise-wide vendor management execution, including development and implementation of compliance and governance measures, oversight and management of third -party relationships, including the management of EVM/VM teams.

Position Description and Key Responsibilities

We are looking for an individual with third party experience in securities and payments processing oversight to become an enterprise vendor manager supporting relationships in Asia. This type of role may also be recognized in the industry as a ‘Network Manager’. This role is critical to support the compliant execution of the third party policy and vendor manager program standard in. It supports the Financial Market Utility (FMU) and Cash and Securities Services (CSS) vendor categories, providing the bank with services such as securities custody and settlement, central counterparty clearing and payments processing. The requirements directly link to the Regulation OCC 2013-29 and other similar laws rules and regulations mandating enhanced due diligence and monitoring around Third Parties providing services to Bank of America and/or our clients.  Vendor Managers have the responsibility to ensure the third parties employed to provide these services continue to be “fit for purpose, regulatory compliant and value for money” and are continually monitored through various department risk assessments, surveys, adherence to service levels and through day to day interaction. Escalations are achieved through a formal set of governance meetings including key stakeholders and risk partners.

What you will do

  • It is responsible for vendor manager activities for a third party portfolio of medium complexity, managing performance, identifying, and mitigating risk. In doing so it will work with the Third Party Portfolio Executives (TPPE) and regional/global Vendor Managers to oversee the compliant execution of the Third Party Program Standard in the Asia region.
  • Executes Vendor Management Program deliverables, ensuring the necessary documentation is completed and implemented consistently across the portfolio through the planning, due-diligence and contracting process.
  • It maintains relationships with third parties and line of business, having equal accountability with Business Process Owners for the end to end third party relationship and associated risk.
  • It will connect with internal line of business, operations, and control partners in the region and global as applicable. He/she will also act as a connection and escalation point to external third party contacts as appropriate and have the potential opportunity to participate within industry forums.
  • This role may act as delegate process owner for multiple lines of business in key aspects of planning and sourcing activities for these outsourced services. It may act as line of business process owner delegate in reviewing strategy and costs associated with in the third party portfolio managed. As such it partners extensively with Global Procurement and other key control partners in addition to the LOB leads regionally as regards input to key decisions such as appointment, termination, and risk acceptance.
  • It may also have engagement in evaluating the Bank’s expenditure with third party partners and providers to ensure effective cost management on an ongoing basis. Regular cost analysis and fee reviews may be required as a part of this role.
  • By its nature it interacts with multiple stakeholders internally but also at external partners, both current and prospective. Such partners are in many cases also clients of BAC and thus appropriate engagement with Corporate Banking and Global Treasury Services leads in the region is a facet of this role

About Bank of America

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales, and trading.

Connecting Asia Pacific to the world

Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Learn more about this role

Full time

JR-22013229

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Hoey Mok

Referral Bonus:

0