Senior Vice President, Head of Global Banking Operations Payments, Governance & Control

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.  Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

About the Team:

Global Banking Operations (GBO) is responsible for the end-to-end implementation, servicing, and operations of all treasury and depository solutions for international corporate, commercial and business banking clients.

The Governance & Control and Payment Operations teams in Australia play critical roles in ensuring high payment volumes are processed accurately, efficiently and in accordance with local, regional and global regulatory environments.

Leading these teams, you will actively liaise with senior stakeholders across multiple disciplines in Australia and overseas and engage with the broader GBO team to ensure obligations are met and projects strategically managed for delivery within agreed timelines.

Examples of regular obligations include AUSTRAC reporting (IFTI, Section 49, Transaction Threshhold Report, Cross Border Movement of Monetary Instrument), ASIC’s Unclaimed Money Returned Report and the RBA’S BECS Payment System Market Share Report & RITS Business Continuity Planning.

Responsibilities:

• Accountable to deliver all strategic projects relating to the payments business from an operational and regulatory perspective
• Responsible for maximizing payment efficiencies such as increasing straight through processing rates, migration of manual to electronic payments and elimination of paper based payment processes
• Ensuring GBO Australia activities adhere to Enterprise Regulatory Reporting Policy Requirements
• Key GBO Australia contact point for local Chief Operating Officer, Money Laundering Responsible Officer, Legal, Compliance, Technology and Product. Regionally/globally, communications extend to technology partners, GBO Risk & the Non-Financial Regulatory Reporting Centre.
• Key member of Australia GBO Management Team. Expected to contribute to broader strategic initiatives impacting GBO in Australia and the APAC region
• Deployment of globally consistent change governance processes, including ownership of regulatory report timeliness and accuracy
• Ownership of GBO ‘risk portfolio’ including self & regulatory initiated audit items and engagement of internal and external auditors
• Instill and maintain the global risk & control discipline. Represent Australia GBO at regional risk forums
• Host Steering Committees and Working Groups on key strategic (payment & risk related) initiatives
• Accountability for the management of and closure of operational control gaps.
• Lead and motivate team members though regular catch ups and performance reviews

Valuable experience:

• 5+ years Operational Risk experience, particularly in Payment Operations
• 5+ years experience in regulatory reporting and processes improvement
• Ability to effectively partner with and influence other business units, including senior management
• A track record in managing complex operational and/or regulatory risk environments
• An understanding of the Australian regulatory environment
• Experience with AUSTRAC: IFTI, Section 49 and TTR reporting