Business Executive Operations – Global Payments Operations

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!

Job Description:
This job is responsible for managing multiple operations segments or divisions for a site, region, product line, or business group within the bank's internal operations. Key responsibilities include resolving broad operational issues, ensuring compliance with policies, and leading implementation of opportunities to improve process performance and operating efficiency. Job expectations include coordinating activities and processes with Lines of Business and other operations segments to set strategic direction and promote ideas, and managing two or more levels of managers.

Role Description

The executive would partner with stakeholders across the enterprise and Global Payment Operations (GPO) to build and maintain an agile comprehensive overdraft process for payments, monitoring, incident management, recovery and reporting that is integrated within the 22/5.5 and 24/7 payments operating models.  This role interfaces with product partners, credit,  compliance and technology experts across all consumer and corporate segments to understanding client experience and align to emerging payments and other market disruptors. Reports directly to the Global Payment Operations executive and ensures stable operations and continuously seeks methods and strategies to improve the performance, productivity, and efficiency of the organization.

The Payment Events, Overdraft, and SWIFT Message Exceptions COE serves three distinct functions within Global Payment Operations (GPO) that are critical to the success processing of payments. 

• Payment Events Team: 7/24 global monitoring of the high and low value payment flows and coordination of issue resolution for payment processing and the delivery of solutions to support these global activities.  The team provides communications to various organizations  and business partners whenever an event impacts GPO. The team also monitors certain payment flows, as requested by business partners, with the assistance of multiple tools including the Intix Payment Tracker.

• The Global Overdraft Payment Exceptions Team:   Handles payment exceptions for insufficient available balance/limit allowance or restrictions in place that don’t allow the straight through processing of payments. Escalate of exceptions to release payments unless account is funded allowing automated systemic release via GTMS.  The activities extend across the US, APAC, EMEA, Canada, and Mexico regions.  Additionally, US ACH file suspends are all handled by payment exceptions team in accordance with GPO procedures.

• SWIFT Message Exceptions Team: Global function comprised of 3 key global functions which includes Relationship Management Application (RMA), Electronic Funds Transfer (EFT) Key initial setup, and the routing and/or repair of SWIFT messages requiring manual intervention.  The RMA process begins with receipt of a work order from internal partners, and upon business approval, ends with the enablement of authenticated SWIFT Message authorizations.  The EFT Key setups enable straight through processing (STP) of SWIFT messages between internal systems.  SWIFT message routing and repair occurs when SWIFT messages fail STP and enter our processing queues for manual intervention.

Responsibilities:

• Accountable for the end-to-end daily routines to ensure payments processing and reconciliation of payments sent to the Federal Reserve and the Clearing House

• Manage monitoring across all visible payments/payment flows and proactively detect breakdowns

• Proactively monitor and manage relevant updates pertain