Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.
The main duties of Officer, Operations Team Lead are as follows:
- Responsible for managing the Payments Section in handling the local disbursements and collections and cross border payment transactions (non-trade related).
- Maintain strong internal operational and financial controls and ensure they meet bank standards.
- Ensures excellent quality of service and efficient operations support for the unit.
- Provides effective coaching and guidance to associates within the dept., regarding procedural, technical and/ or operations changes.
- Drive process improvement projects independently to reduce operating costs, constantly improve service standards and controls.
- Work closely with Head-Payments Group to meet department objectives in a timely and accurate manner.
- Ensure that the periodic MIS required on the productivity, volumes, STP, customer flows are accurately designed and generated.
- Ensure appropriate documentation in place in accordance with bank policies & procedures, to facilitate closing with the client.
- Handle projects independently and with close coordination with the Product Management & Technology and other business partners and implement solutions.
- Drive enhancements in the systems to improve the processes and customer service.
- Provide advisory services on the regulatory requirements (especially FEMA) to clients and other business partners.
- Preferable - Strong knowledge of GBS and payment products (end to end), including electronic banking.
- Highly numerate.
- Good knowledge of local and US regulations relating to the banking sector.
- A very sound knowledge of FEMA regulations especially with regard to non-trade payment transactions (current and capital account transactions). Good operational knowledge of credit transactions (funded/non-funded) and credit admin functions (including commitment system) will be an added advantage.
- Excellent knowledge of Excel/ Word/ Power Point.
- Good people management and Customer service skills.
- Proven track record in independent handling of projects and client deals.
- Sound knowledge of the payment systems (NEFT,ECS, RTGS etc.,) & product/process expertise.