Product Manager, Paper & Low Value Collections, Global Payments Solutions

Job Description:

Job Title: Product Manager, Payments & Receivables, Paper & Low Value Collections

Corporate Title:  Vice President

Location:  London

Company Overview:

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!

Role Description:

The Global Payments Solutions business is a leading provider of treasury and cash management solutions, with 100,000 +clients globally, spanning across all segments and industries, from middle-market businesses to the world’s largest corporate and financial institutions. We are dedicated to turning technology advances into treasury solutions for our clients globally - across all segments and industries. We are looking for highly motivated, self-starters who can advocate for our clients in providing liquidity management, payments and receipts, trade and supply chain finance, FX and commercial card services, by complementing high tech with a personalized touch. Challenge the status quo and influence peers with diverse points of view. Forward thinkers with ability to see what's next in treasury management.

The Product Management team is at the heart of our business, with responsibility for P&L, risk management and product development. The EMEA team is based in London, with additional and growing presence in key markets in the region. A role has arisen to support low value and paper collections within the  Payments and Receipts team. This opportunity offers autonomy for a product manager to own and set direction for this key part of the Payments product set, and to interact with a wide range of stakeholders at different levels, including sales, technology, operations, and risk and control functions. The working environment is dynamic, collaborative and innovative, and offers exciting scope for career progression. The individual will be responsible for end-to-end oversight of their product, encompassing:

• Oversight of P&L- setting targets and accountability for revenue and profitability, pricing strategy etc

• Detailed understanding of product functionality, competitive landscape and market trends

• Ability to influence product strategy- drive enhanced capability and improved operational processes and efficiency.

• Manage risk- KRI monitoring, identifying and remediating issues, regulatory change.

• Support to sales on client engagement

• Opportunity to support broader initiatives for the Product Management organisation.

Responsibilities:

• Manage all aspects of underlying technology infrastructure and external partners and utilities associated with Payments, e.g. BACS, Direct Debit, Correspondent banks, vendors

• Regular reporting on volumes, issue management, project progress

• On point for internal audit and risk reviews, scheme rule or regulatory change (impact assessment and implementation)

• On point for queries from clients and sales teams, either relation to issues or in support of new business.

• Close engagement with operations to promote streamlined processes.

• Close collaboration with other product managers in subject matter areas, including in other regions to share knowledge and best practice.

• Involvement in coaching and development of graduates and other junior colleagues.

What we are looking for:

• Experience in a comparable business, ideally within a financial institution but other payments business also considered, ideally in a product management capacity.

• Experience/appreciation for global complexities- cross border and multi-jurisdictional exposure

• Understanding of the payments landscape in terms of both innovation, and regulatory landscape

• Risk Manager- keen attention to spotting risks and issues and taking action to address or remediate systematically.

• Comfortable setting priorities and working on both longer-term initiatives, regular routines and dealing with ad hoc unforeseen demands.

• Good communicator- both written and verbal communication tailored to the audience.

• Stakeholder management- ability to engage and build relationships in a large complex organisation.

Skills that will help:

• Product Design and Development

• Project Management

• Innovative Thinking

• Process Management

Benefits of working at Bank of America
 

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner.

• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons.

• 20 days of back-up childcare including virtual tutoring and 20 days of back-up adult care per annum

• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.

• Use of a flex fund to use towards benefits.

• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services

• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution.

• Opportunity to access our Arts & Culture corporate membership programme and receive discounted entry to some of the UK and Ireland’s most iconic cultural institutions.

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area.

Bank of America

Good conduct and sound judgment are crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunity employer and ensure that no applicant is subject to less favourable treatment on the grounds of gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.