Operations Lead

Bank of America; New York (NY); On-site; USD 107,000 - 200,000; Full time

Job summary

An established industry player is seeking a talented operations support manager to oversee compliance and operational support. This role involves analyzing complex problems, ensuring adherence to policies, and identifying process improvements. You will manage relationships across various business lines, lead initiatives to enhance efficiency, and coordinate with senior management. If you possess strong analytical skills, a background in finance, and a passion for operational excellence, this is an exciting opportunity to make a significant impact in a dynamic environment.

Qualifications

• Experience in consumer financial services and operations.
• Strong analytical skills with large structured data sets.

Responsibilities

• Develop procedures to improve productivity and manage change.
• Serve as an escalation point for operational issues.

Skills

Business Operations Management

Engagement Driving

Process Management and Measurement

Results Orientation

Customer Focus

Planning and Reporting

Risk Management

Talent Development

Adaptability

Data Management

Legal and Regulatory Interpretation

Education

Bachelor's Degree in Finance or related field

Professional qualifications (e.g., accounting certifications)

Job description

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 a diverse and 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.

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

Job Description:

This role oversees a unit or section within a site, region, or product line, focusing on operational support and compliance. Responsibilities include analyzing and resolving complex problems, ensuring adherence to policies, and identifying process improvements. The role requires expertise in operations support management and functional areas, gained through progressive management experience.

The person in this role will monitor deposit insurance determinations and FDIC 370 compliance, managing relationships across multiple business lines and technology teams to ensure regulatory compliance. They will serve as an escalation point for operational issues, develop procedures to improve efficiency, and lead business change initiatives. Additionally, they will coordinate with senior management and lead resources both in the US and India to complete activities, with decisions impacting regulatory, financial, reputational, and operational risks.

This role involves analyzing and resolving highly complex operational issues, managing projects, and introducing new systems, products, or processes. Key responsibilities include:

1. Ensuring accurate and timely regulatory reporting to agencies.
2. Implementing control practices and ensuring compliance with regulatory and policy standards.
3. Documenting risks, performance metrics, and controls related to reporting.
4. Responding to inquiries from regulatory agencies and internal partners.
5. Collaborating with upstream process owners and data providers to enhance data quality.
6. Supporting the centralization of regulatory reports and overseeing the transition process.
7. Partnering with technology and business teams for requirements and UAT.

Responsibilities:

• Develop and implement procedures to improve productivity and manage business change.
• Serve as an escalation point for operational issues.
• Manage expenses, forecasting, and talent planning at a senior level.

Managerial Responsibilities:

• Promote diversity and inclusion.
• Demonstrate deep process knowledge and operational excellence.
• Communicate effectively across the organization.
• Ensure risk management controls are in place.
• Provide coaching and feedback to team members.
• Manage budgets and expenses.
• Assess talent and develop bench strength.
• Drive business results through effective prioritization and delegation.

Required Skills:

• Experience in consumer financial services, understanding of entity structures.
• Background in Operations, Finance, Risk, or Compliance.
• Strong technical and analytical skills, especially with large structured data sets.
• Effective communication skills, both oral and written.
• Operational excellence and critical thinking abilities.
• Ability to influence stakeholders and work independently under regulatory deadlines.

Desired Skills:

• Audit experience.
• Experience with regulatory agencies and exams.
• Knowledge of regulatory reporting in global markets or banking environments.
• Experience in technology implementation projects.
• Professional qualifications such as accounting certifications.

Skills:

• Business Operations Management
• Engagement Driving
• Process Management and Measurement
• Results Orientation
• Customer Focus
• Planning and Reporting
• Risk Management
• Talent Development
• Adaptability
• Data Management
• Legal and Regulatory Interpretation

Shift: 1st shift (United States of America)

Hours Per Week: 40

Pay Transparency: Salary range $107,700 - $200,000 annually, based on experience. Eligible for discretionary annual bonuses and benefits.