VP, Operations Control Officer

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POST DATE 8/18/2016
END DATE 11/9/2016

Bank of America Merchant Services Charlotte, NC

Charlotte, NC
AJE Ref #
Job Classification
Full Time
Job Type
Company Ref #
Mid-Career (2 - 15 years)
Bachelors Degree


Job Number: 4439

Position Title: 410RO : OPS CONTROL OFFICER

External Description:

The VP Operations Control Officer is responsible for overseeing the health of the operations control environment in mitigating potential risk - reputational, financial, and operating risk. Specifically the role is responsible for working with Bank of America Merchant Services Analytics organization to improve controls by proactively conducting control reviews, and by defining and driving effective responses when gaps are found. Further, the role is responsible for driving transparency, governance, and changes that result in continuously improving control environment. Responsibility also includes execution, review, and improvement through, inter alia, policies, procedures, and operations functions attendant to same. Emphasis on strong to risk and compliance that meets the needs of Bank of America Merchant Services today while also accommodating future growth.

Essential Functions

* Develop and execute surveys and other assessment tools to support development, implementation and maintenance of BAMS Risk and Control Framework.

* Develop, implement, and oversee quality control program ensuring appropriate check-in and check-out practices are deployed, measured and managed (i.e., funding / settlement balances, complaint tracking)

* In collaboration with associate development and Risk and the business units, develop and deploy appropriate controls, compliance and risk management associate training for operational teams.

* Develop implementation plans by working across all operations areas.

* Develop audit findings governance, bringing greater visibility to senior management. Provide consultative services to drive resolution.

* Design the control self-assessment testing plans.

* Consistent and appropriate tracking and oversight of issues.

* Ensure appropriate execution around issues management and remediation.

* Work with functional areas assigned to ensure RCSA and other control gaps are identified as issues and appropriately prioritized for remediation.

* Manage day to day issues remediation around control gaps and weaknesses, providing subject matter expertise for control design and assuring remediation commitments are met.

* Provide regular reporting and/or ad hoc updates to ensure transparency into high and medium risk issues and progress of related remediation activity.

* Understand and manage risks and risk events (incidents) by contributing to the adherence to BAMS Risk and Control Framework.

* Aggregating and analyzing risk events reported by the business units.

* Perform root cause analyses on identified risk events to recommend improvements to prevent these risk events from re-occurring in future.

* Assist functional units with the identification of key risk indicators in their business units.

* Analyzing identified trends in the key risk indicators reported.

* Assist with the identification of key risks and mitigating controls in their business units, as well as action plans to address any gaps in the mitigating measures identified.

* Monitor and implementation of action plans to address key risks on the risk and control self-assessments.

* Assist in preparing risk and committee reports.

* Driving improved Business Continuity Planning across operational areas: Conduct table top and live testing.

* In collaboration with Risk and business units, develop, assess and identify management programs.

* Ensure operational practices are in compliance with relevant risk standards, policies, and regulations

* Serve as the primary liaison for operations with Audit, Card Compliance, and Enterprise Risk Management

* In collaboration with incident management owners, investigate issues/errors, perform root cause analysis and develop action plans resulting in sustainable improvement and issue avoidance.

* Monitor weekly and monthly production risk metrics.

Required Skills

* At least 6 years experience of which 4 years should be in the operational risk or process design environment

* Bachelor's degree

* Proficiency with MS Office products (Word, Excel, PowerPoint, etc.

* Knowledge of data environments, business intelligence tools, and reporting.

Desired Skills

* Proven subject knowledge of risk and control and issues management processes

* Ability to analyze data to determine actions and identify trends

* Demonstrated ability to develop and monitor plans and deliver results

* Highly organized and structured, ability to manage multiple and competing priorities, with focus on achieving deadlines without compromising quality of output

* Strong presentation skills

* Ability to think strategically and turn ideas into tactical plans for execution

* Strong influence and negotiation skills

* Ability to manage multiple projects and request simultaneously and self-prioritize

* Detailed orientated

* Analytical and process thinker

* Ability to make independent judgments for priority and completion of each task

* Ability to make swift and sound decisions that demonstrate both strategic and tactical analytical and leadership skills.

* Sound judgment.

* Proven record of fostering strong client relationships both internally and externally.

* Demonstrated ability to work in a team environment.

* Strong strategic thinking with ability to focus on end-to-end regulatory risk activities and their respective value.

* Six Sigma Black Belt or equivalent process design experience.

* Understands and executes balance between growth, risk and profitability.

* Excellent written and oral communication skills.

* Strong leadership, collaborative and facilitative skills, including relationship building skills.

* Strong analytical skills and experience with implementation and administration of operations control function in mitigation of operational risk.

* Excellent problem solving, interpersonal communication and project management skills a must.

* Strong leadership skills that inspire confidence and respect while motivating team members in a creative and effective manner.

* Must have a desire for achieving excellence in customer satisfaction, process and product quality and reliability.

* Proven ability to communicate at all levels within the organization both verbally and in written form to achieve risk management objectives and goals.

* Knowledge of risk management methodologies and an understanding of the business environment within which the control officer function operates.

Location: Charlotte, North Carolina US

Community / Marketing Title: VP, Operations Control Officer

Company Profile:

Bank of America Merchant Services connects businesses and consumers by doing payments better. In an increasingly complex marketplace, we empower businesses to give consumers the right commerce experience. We consult with businesses to customize solutions that integrate selling channels, open new markets, solve problems using data, stay secure and, ultimately, accomplish more.

EEO Employer Verbiage:

Bank of America Merchant Services ensures equal employment opportunity without discrimination or harassment on the basis of race, color, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, protected veteran status, genetic information, or any other basis protected by law.

The employer will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose