Associate/Vice President - Product Risk Execution, Global Payments Solutions

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

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

Opportunity in the Product Risk Execution team, within the Global Payments Solutions (GPS) organization. The Product Risk Execution organization reflects our commitment to elevating risk management to become a strategic function and enabler of Responsible Growth. This team develops best practices, streamlines processes, and enables execution of risk activities by supporting product managers with expertise and specialization on all aspects of product risk management. Product managers remain responsible for risk in their product, and product executives retain responsibility for their governance routines

Job Description:

Responsible for driving risk deliverables across the GPS Product organization, with a keen focus on the 12 countries across APAC.

This role executes risk activities with GPS Product Managers and key stakeholders to translate enterprise risk requirements into actionable Product deliverables and drive execution through completion. The individual will proactively manage assigned deliverables, identify gaps and dependencies, coordinate across stakeholders, and escalate execution risks and barriers as appropriate.

Key Responsibilities:

Enable execution of risk management across GPS APAC. 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.

• Engage and influence across 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 Managers & other partners to identify and review current open issues, watch items, upcoming regulations & new product initiatives pipeline.        

• Drive 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 Product Managers and in line with the enterprise expectations

• Lead SPI owners on risk & controls assessment including identifying processes, and providing advisory on creation and updates of SPIs.

• Lead, when needed, on regulatory change management, timely assessments, past due items and escalations in alignment with the 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)

Required Skills:

• 3+ years of experience in Process Design, Business Controls, Risk Management, Product Risk, or related risk functions.
• Strong analytical, organizational, and problem-solving skills with demonstrated attention to detail.
• Ability to quickly learn complex products, processes, and risk requirements and independently drive assigned deliverables through completion.
• Demonstrated ability to manage multiple priorities, stakeholders, dependencies, and deadlines while adapting to changing business priorities.
• Strong written, verbal, and presentation skills, with the ability to clearly communicate requirements, issues, risks, and required actions.
• Demonstrated ability to connect the dots across organizational silos, think outside the box, and apply an enterprise mindset.
• Ability to proactively identify, resolve, or appropriately escalate issues and barriers to maintain execution timelines.
• Proficiency with Microsoft Office products, including Excel, PowerPoint, Word, and Visio.

Desired Skills:

• 3+ years of Product-related experience, preferably within financial services or a risk-focused environment.
• Bachelor’s degree or equivalent professional experience.
• Familiarity with Third Party processes and requirements, including activities associated with contract renewals and ongoing third-party engagements.
• Familiarity with application and data risk processes and tools, including Permit to Send/Receive (PTS/R) and Data Transmission Registrations (DTRs), including reconcilement activities.
• Demonstrated ability to navigate a complex enterprise, establish trusted relationships, and influence outcomes across organizational boundaries.
• Experience applying automation, artificial intelligence (AI), and other technology capabilities to streamline processes, reduce manual effort, and improve execution efficiency.