APAC Product Risk Execution Lead

Bank of America; Hong Kong Island; On-site; HKD 900,000 - 1,500,000; Full time

Job summary

Bank of America in Hong Kong seeks an experienced Product Risk Manager within GPS to strengthen risk governance across APAC markets and support product teams with risk expertise. You will partner with senior leaders to ensure compliance and effective risk management throughout the product lifecycle.

The role demands collaboration with Audit, Compliance, and Operational Risk, knowledge of Transaction Banking, and the ability to drive cross-functional initiatives in a fast-paced global bank.

Qualifications

• 3+ years Transaction Banking / Cash Management product management or product development experience.
• 3+ years risk management experience in business controls/ operational risk/ compliance/ financial crimes/ Audit/ Sanctions/ AML
• Experience in managing discussions with internal Audit/ Compliance/ external Regulators
• Experience leading and executing large scale projects across cross-functional partners within a large, global financial institution
• Familiarity with APAC banking & payments regulatory environment
• Familiarity with Sanctions related regulations/impacts relevant to Transaction Banking
• Familiarity with upcoming alternative payment methods in the market and regulations
• Proven ability to work in a demanding, fast-paced global environment, with flexibility towards rapid change
• Motivated self-starter who can act independently and drive execution, follow through with tasks and commitments, and retain sensitivity to when group consensus is required
• Must be able to leverage cross-functional, globally disbursed, teams to prioritize, plan and execute, while retaining the agility to adapt to changing priorities
• Ability to wade through details and complexity, yet return high-level simplicity for senior management, and ultimately recommend workable solutions
• Drive alignment via strong and efficient facilitation and presentation capability, synthesizing multiple inputs into a cohesive approach
• Ability and desire to think creatively to deliver business results both independently and as part of a team
• Intellectually curious, confident, and passionate in communication and work-ethic, energized by continuous improvement and challenging the status quo
• Excellent interpersonal, communication (written and verbal) and relationship-building skills across all levels of an organization

Responsibilities

• Direct report to the Global Head of GPS Product Risk Execution, matrix report to APAC Treasury Product Head.
• As member of the APAC GPS Product Leadership team, enable execution of risk management across the APAC Treasury Product teams in 12 APAC markets. Ensure high quality of product risk governance across Issues Management, Single Process Inventory (SPI), Audit Management, Targeted Risk Assessments, Third Party, Law Rule Reg & Clearing Rule Management, and Product Risk Assessment (PRA) processes.
• Senior deputy on risk matters for the APAC Treasury Product Head, including engaging with all regional product heads & country product heads on key risks and escalating matters to the APAC Treasury Product Head and Global Head of GPS Product Risk Execution as and when needed. Represent APAC Treasury Product on regional & global control forums.
• Engage and influence across senior leaders of various control partners such as Business Controls, COO, Global Banking Risk, Global Financial Crimes Compliance (GFC), Global Compliance and Operational Risk (GCOR), and other key stakeholders such as Operations & Technology on GPS risk matters
• Manage regular routines with Product executives & other partners to identify and review current open issues, watch items, upcoming regulations & new product initiatives pipeline.
• Advise and QA development of Product Intake assessments, Product Risk Assessments (PRAs), Single Process Inventories (SPIs), Issue documentation, action plans, closure documentation and other Risk deliverables based on inputs from PMs and in line with the enterprise expectations
• Support SPI owners on risk & controls assessment including identifying processes, and providing advisory on creation and updates of SPIs.
• Advise, when needed, on regulatory change management, timely assessments, past due items and escalations in alignment with the international regulatory change management process. Escalate issues or conflicts in legal and regulatory requirements as appropriate.
• Advise Product Managers, when needed, on responding to audit's questions and requests for information, Targeted Risk Assessments (TRAs) from 2nd line (GCOR / GFC etc) or regulatory engagements (questions, consultations, inspections, and exams).
• Monitor key risk indicators across GPS products, including key control metrics, operational losses, client related complaints, and issues management (Self-Identified Issues, Risk-Identified Issues, Control Enhancements)

Skills

Transaction Banking

Risk management

Product management

Payments background

Cross-functional collaboration

Regulatory knowledge

Job description

Bank of America in Hong Kong seeks an experienced Product Risk Manager within GPS to strengthen risk governance across APAC markets and support product teams with risk expertise. You will partner with senior leaders to ensure compliance and effective risk management throughout the product lifecycle.

The role demands collaboration with Audit, Compliance, and Operational Risk, knowledge of Transaction Banking, and the ability to drive cross-functional initiatives in a fast-paced global bank.