Business Control Executive (Global Payments Solutions)

National Black MBA Association; New York (NY); On-site; USD 160,000 - 240,000; Full time

Job summary

A leading financial institution is seeking a Business Control Executive in Global Payments Solutions. The candidate will lead strategies related to financial crimes compliance and operational risk management. This role demands extensive experience in the payments industry and strong stakeholder engagement skills, ensuring adherence to regulatory requirements while driving operational excellence.

Qualifications

• Minimum of 10 years experience in the payments industry.
• Global Financial Crimes experience required.
• Broad understanding of the GPS business and compliance.

Responsibilities

• Engages with stakeholders on financial crime issues.
• Provides oversight on fraud monitoring and compliance.
• Oversees implementation of risk and control processes.

Skills

Controls Management

Payments product knowledge

Financial Crimes regulatory requirements

Oral Communications

Risk Management

Stakeholder Management

Strategy Planning and Development

Continuous Improvement

Drives Engagement

Influence

Strategic Thinking

Data and Trend Analysis

Decision Making

Problem Solving

Quality Assurance

Education

Bachelor's degree preferred

Job description

Business Control Executive (Global Payments Solutions) page is loaded

Business Control Executive (Global Payments Solutions)

Apply locations New York Charlotte time type Full time posted on Posted 3 Days Ago job requisition id 25025406

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 sits within the front line Business Controls team in Global Payment Solutions (GPS) and is responsible for leading and designing the strategy related to financial crimes compliance within the GPS business. Key responsibilities include ensuring capabilities are in place to drive the day-to-day execution of the Operational Risk Management Framework, including the implementation of LOB specific processes and tools to drive adherence to regulatory requirements and enterprise-wide standards & policies related to financial crimes. Job expectations include providing oversight and establishing effective quality assurance and control processes.

Required skills: Must have these skills to be minimally qualified

* Minimum of 10 years experience in the payments industry, international, and Global Financial Crimes experience

Responsibilities:

• Engages with stakeholders to identify issues related to financial crimes and assures action plans & control improvements for issue resolution
• Demonstrates broad understanding of the GPS business including International payments and new payments rails like real time payments, pay by bank, pay to card and virtual accounts management.
• Work closely with control partners in Compliance to ensure two-way communication of business capabilities and regulatory adherence
• Have good understanding of regulatory requirements related to economic sanctions and AML screening of transactions and relationships
• Provide oversight on fraud monitoring including understanding and compliance with regulatory requirements across the globe where GPS provides services
• Have basic understanding of payment related data flows and associated data quality challenges vis-à-vis Banking Secrecy Act (BSA) and travel rule requirements
• Oversees the assessment of the design and effectiveness of the risk and control environment to ensure adherence to enterprise-wide standards
• Oversees the implementation of optimized controls and enhanced Quality Assurance (QA) practices to support business efforts
• Oversees GPS responses for regulatory exams, internal audits, and other monitoring and inspection reviews related to financial crimes
• Active participation in the key governance forums including Business Control Forums, Regulatory Initiative forums, Product & Sales level governance forums
• Acts as an ambassador of the risk culture, monitoring and reporting on the Line of Business or Enterprise Control Function's Operational Risk Profile
• Bachelor's degree preferred or relevant work experience

Required Skills:

• Controls Management
• Payments product knowledge
• Financial Crimes regulatory requirements
• Oral Communications
• Risk Management
• Stakeholder Management
• Strategy Planning and Development
• Continuous Improvement
• Drives Engagement
• Influence
• Strategic Thinking
• Data and Trend Analysis
• Decision Making
• Problem Solving
• Quality Assurance

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits informationPay range$160,000.00 - $239,200.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.BenefitsThis role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

About Us

Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity.

Regardless of the position you are interested in, the starting points to building your resume are the same:
1.Determine the job or types of jobs you want to do and research their responsibilities and qualifications.
2.Think about why you can do the job and make a list of your skills that are relative to the job.
3.Identify experiences or accomplishments that show your proficiency in the skills required for the job.
4.Summarize your abilities, accomplishments and skills into a brief, concise document.

Considerations when writing a resume
•Do be brief. Resumes should be 1-2 pages in length.
•Do be upbeat and active in your wording.
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•Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible.
•Don't be dishonest, always tell the truth about yourself in the most flattering light.
•Don't include salary history or requirements.
•Don't include references.
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• Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.)
•Don't use italics, underlining, shadows or other fancy treatments.

Seven steps to a successful interview
1.Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?
2.Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available?
3.Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight.
4.Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down.
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6.Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease.
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