Global Payments Solutions Product Risk Manager

Job Description:

Job Title: Product Risk Manager

Corporate Title: Vice President or Director 

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!

London Location Overview

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

Global Payments Solutions Group

Bank of America’s Global Payments Solutions (GPS) business is hiring. Our focus on combining cutting-edge technology with innovative solutions, means we consistently deliver exceptional results for our clients.

Do you want to be part of our award-winning team? We are proud to:

• Be a leading provider of treasury and cash management solutions

• Deliver for over 100,000+ clients globally, including over 73% of the Global Fortune 500

• Be at the forefront of delivering treasury solutions across all segments and all industries, from middle-market businesses to the world’s largest corporate and financial institutions

• Provide a personalised service for our clients, backed with high-tech for their liquidity management, payments and receipts, trade and supply chain finance and FX and commercial card services

We want to hear from you if you are:

• A highly-motivated individual

• Has a client-centric focus who can advocate on their behalf

• Can challenge the status quo

• Collaborate with peers as well as having the ability to influence the conversation with diverse points of view

• Innovative with forward-thinking ideas

Responsibilities

We are looking for a Product Risk Manager to join our GPS EMEA Product Management team, a key Product risk & regulation role focusing on ensuring our risk routines are carefully managed, assisting our Product owners throughout the product lifecycle.

You will be responsible for non-financial regulatory reporting (NFRR) accountability for GPS EMEA owned reports, Product Risk input into ongoing Operational Resiliency work as mandated by FCA, PRA, CBI, ECB and act as a key liaison for GPS with risk partners. Working closely with GPS global product risk on managing all reporting and meeting routines ensuring visibility of all risks in region, support on global audits and assist with new product/non-standard approvals. You will also work with the GPS Risk team to promote best practice and consistent risk reporting metrics and identifying thematic issues.

Role activities and responsibilities may include:

• Managing regular routines with Product teams & other partners to identify, track and review current open issues (SIAIs/CEs/MRA), watch items, up-coming regulations & new product initiatives in the pipeline.

• Work with control partners such as Business Controls, COO, Global Banking Risk, Global Financial Crimes Committee (GFCC), Global Compliance and Operational Risk (GCOR) and other non-Line of Business (LOB) partners on all GPS risk matters.

• Support GPS Product & Sales team on all audit/regulatory exams/compliance assessments.

• Support all regulatory implementation projects and ensure regulatory requirements are clearly understood and issues or conflicts in legal and regulatory requirements escalated as appropriate.

• Non-Financial Regulatory Reporting (NFRR) ownership accountability for GPS EMEA owned reports.

• Input into ongoing Operational Resiliency work as mandated by FCA, PRA, CBI, ECB etc.

• Assist with new product and non-standard approvals - in particular regional legal entity approval.

• Active participation in the key governance forums including Business Control forums, Regulatory Initiative forums, Product & Sales level governance forums, Legal Entity Governance Routines (e.g., Bank of America National Association and Bank of America Europe DAC).

• Perform regulatory horizon scanning including consultation reviews/submissions to allow GPS to better respond to new regulations and help provide meaningful input to industry consultations.

• Represent GPS EMEA on regional and global regulatory projects.

What we are looking for

• Experience in payments/transaction services and risk management experience in compliance/financial crimes/audit/sanctions/anti-money laundering (AML).

• Strong risk focused professional with knowledge of transaction banking products (including Card, Trade Finance, Liquidity, Payments & Receipts) and key regulations (including FTR & PSD2).

• Experience in managing discussions with Audit/Compliance/Regulators.

• Ability to navigate across global and cross-functional teams.

• Excellent presentation skills.

• Transaction Banking/Cash Management/Trade Finance Risk experience within a large, global financial institution.

• Familiarity with upcoming alternative payment methods in the market and associated regulations.

• Familiarity or previous involvement in compliance, legal or regulatory projects or remediation.

• Ability to read and interpret regulations and guidance notes and apply them in the commercial context.

• Understanding of governance around regulatory and legal projects as well as knowledge of risk and reporting routines, committees, and terminology.

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 access to school holiday clubs 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.

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

• Access to an Employee Assistance Program for confidential support and help for everyday matters

• 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 program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.

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

Bank of America

Good conduct and sound judgment is 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 opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or 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.