Operations Team Leader - 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. 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 is responsible for overseeing the Operations team and ensuring they meet deadlines, execute, and coordinate tasks. Key responsibilities include supporting continuous business improvements, reviewing operations procedures, implementing changes, ensuring adherence to operations procedures, providing guidance to employees, handling exception requests, and referring more complex problems to a senior manager. Job expectations include having an awareness of foundational operations and familiarity in a specific product line.

Responsibilities:

• Supervises and coordinates incoming and outgoing payments with BACI and obtains documentation as applicable/handles related queries
• Approves EPCS and PDDTS transactions and funds Partner bank accounts
• Handles outstanding items in Due From Accounts, Suspense items and holdovers items with Reconciliation Team
• Manages GLFX, CTR Reports and Certifications of Inward Remittances
• Coordinates with BACI investigation Team non-receipt of payment instructions
• Notifies Client Servicing Team for rejected/returned payments
• Reviews AOC referred transactions and various reports for the Group
• Initiates, maintains and enhances communications with other business units and other appropriate line areas. Acts as one of Operations’ client links to respond to client demands in a timely manner
• Reviews regulatory and compliance issues and modifies affected procedures / reports accordingly
• Acts as back-up officer in Operations
• Reviews and monitors Service Level Agreements to ensure compliance and quality of service
• Ensures that an updated contingency plan is in place and tested for effectiveness.
• Adheres to written policies and procedures and continuously improve work processes
  
  

• Handles Payments –related Reports
• Broad knowledge of product lines managed as well as related regulatory requirements, systems, internal accounting and control and BAC procedures
• Managerial skills