GPS Liquidity, Head of Deposit & Rate Strategy

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!

The Liquidity Product Team in GPS is responsible for managing over $500B of corporate and commercial deposits across ~40 different currencies. The team covers deposit strategy, deposit pricing, deposit appetite, product development and product management - including sweeps, zero balance accounts, physical cash concentration and multi-currency notional pooling.  The team also supports large/complex liquidity deals, drives liquidity thought leadership, analyzes the impact of monetary policy on wholesale banking and leads the GPS response to regulatory changes/inquiries.

The Deposit & Rate Strategy team is responsible for developing strategies to optimize net interest income (NII) while achieving deposit growth/rate paid targets and supporting the liquidity needs of clients. The team also produces deposit portfolio analytics and competitive intelligence for senior leaders at the Bank, in addition to managing the processes and applications related to client exception rates.

The US and most other major global currencies are entering a declining rate environment, which creates an opportunity to optimize pricing of the portfolio and outperform key competitors. GPS’s ability to effectively manage interest expense while growing market share is critical to the Company’s bottom line.

This individual will manage the Deposit & Rate Strategy team and work directly with GPS senior management and leaders in Corporate Treasury to develop and drive the GPS strategy around deposit growth and pricing.

Required Skills:

• Background in deposit product, deposit pricing, or treasury/finance supporting a deposit-taking business

• Numerate and analytical, comfortable with financial forecasting and ability to distill large amounts of data into a simple message

• Self-starter who is motivated to identify value-add projects and drive them to completion

• Strategic thinker, intellectual curious, thought leader

• Experienced people manager, preferably leading an analysis or strategy team

• Ability to successfully develop and maintain collaborative working relationships

• Demonstrated ability to lead, influence and persuade others

• Excellent written and oral communication skills

• Comfortable presenting to and interacting with senior management

Desired Skills:

• Deep understanding of US monetary policy and macroeconomic factors driving industry deposit trends

• Knowledge of post-GFC regulation and experience working with and responding to regulators

Minimum Education Requirement: Null

Shift:

Hours Per Week: