Sr Operations Manager

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
 

Job Description:
This job is responsible for managing a unit for a site, region, or product line within the bank's internal operations. Key responsibilities include identifying, analyzing, and resolving highly complex problems, ensuring compliance with policies, and developing and implementing new processes to improve operating efficiency and ensure accuracy of workflow. Job expectations include managing employee performance, development, talent planning, and overseeing the budget, expenses, reporting, and forecasting.

Responsibilities:

• Manages staffing levels and capacities, prioritizes employee development by providing effective coaching and training, and shares constructive feedback to drive Operational Excellence

• Oversees end-to-end processes and ensures adherence to bank and regulatory policy and procedures when making decisions that impact various operations and product lines

• Develops and analyzes procedures to enhance unit and/or product-related activities and oversees budget and expense management, reporting, and forecasting for designated areas

• Implements improvements to drive the growth to the overall processes and identifies data, metrics, and key performance indicators to measure process effectiveness

• Aligns bank priorities and strategies to employee metrics and goals, evaluates employee progress, and strives to recognize, encourage, and improve team performance to support an inclusive work environment

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Opportunity & Inclusion Champion: Creates an inclusive team where members are treated fairly and respectfully.

• Manager of Process & Data: Demonstrates and expects process knowledge, data driven decisions, simplicity and continuous improvement.

• Enterprise Advocate & Communicator: Delivers clear and concise messages that motivate, convey the “why” and connects contributions to business results.

• Risk Manager: Leads and encourages the identification, escalation and resolution of potential risks.

• People Manager & Coach: Knows and develops team members through coaching and feedback.

• Financial Steward: Manages expenses and demonstrates an owner’s mindset.

• Enterprise Talent Leader: Recruits, on-boards and develops talent, and supports talent mobility for career growth.

• Driver of Business Outcomes: Delivers results through effective team management, structure, and routines.

Line of Business Description:

Wealth Management Operations (WMO) provides end-to-end operational support that drives the client experience for Wealth Management advisory partners and their clients.

Within WMO, the Cost Basis & Asset Transition Services team execute manual processes and monitor automated processes to accurately maintain and move account data and securities such as cost basis information and asset transfers for transactions including tax lot adjustments, cost basis corrections, corporate actions, ACATS transfers, non- ACATS transfers, and reclaims.

Team Description:

The Global TaxLot application receives account transactions, performs cost basis calculations and executes tax lot updates in the nightly batch process. The Cost Basis team is responsible for resolving tax lots that are not systematically updated by those transactions. These come in the form of tax lot failures for corporate action events, trades, transfers and reconcil