Job Description:This job is responsible for leading multiple major operations segment for a site, region, or product line within the bank's internal operations. Key responsibilities include identifying, analyzing, and resolving complex problems, ensuring compliance with policies, and identifying and implementing opportunities to improve process performance and operating efficiency. Job expectations include coordinating activities and processes across operations segments.
LOB Descritption:
The Institutional Retirement Payroll, Benefits, and Disbursements (IRBPD) Team within Wealth Management Operations (WMO) is responsible for payroll and benefits processing, money movement, participant-level maintenance and tax reporting support for 401(k) Defined Contribution, Non-Qualified Deferred Compensation (NQDC), Institutional Trust and Custody, Defined Benefit, and Health Benefits Solutions (HBS) products.
The Cashiering team within IRBPD facilitates the processing of deposits and disbursements to the Plan Sponsor and/or the participant account. Deposits are used for funding client payrolls, open billing receivables, and individual direct rollovers. Disbursement requests are received from the Plan Sponsor, Client Service Manager or plan participant.
This role will report directly to the IRBPD Executive and manage a team of 17+ FTE. This job is responsible for overseeing a unit or section of a segment for a site, region, or product line within the bank's internal operations. Key responsibilities include identifying, analyzing, and resolving complex problems, ensuring compliance with policies, and identifying opportunities to improve process performance and operating efficiency. Job expectations include knowledge of money movement operations and acting as the designated Process Owner.
Responsibilities:- Act as the senior escalation point for high-priority incidents, coordinating triage, stakeholder communications, recovery, and post-incident review.
- Supports functions carrying a substantial risk of exposure and potential loss with significant impact on major corporate customer relationships
- Directs the maintenance and continuous enhancement of departmental procedures, ensuring adherence to enterprise standards, operational requirements, and regulatory expectations
- Leads strategic communications, change management, and adoption efforts that advance workforce initiatives, organizational transformation, and business performance
- Builds and develops a high-performing, inclusive team through coaching, succession planning, talent development, and performance management practices that strengthen organizational capability and leadership readiness
- Process ownership and works closely with Workplace Benefits, Reconciliation, Billing, Escheatment, and the Retirement Benefits Contact Center to drive end-to-end process improvements, resolve cross-functional issues, and maintain open, timely, and effective lines of communication
- Leads monthly business reviews to assess performance, emerging trends, service delivery, operational risks, and progress against key objectives and improvement commitments
- Participates in risk meetings and governance routines to identify, evaluate, escalate, and remediate operational risks, control gaps, and issues in accordance with enterprise standards
- Provides leadership and coordination for internal and external audits, including evidence preparation, stakeholder engagement, issue response, and timely completion of remediation activities
- Oversees key performance and risk metrics, staffing capacity, volumes, productivity, and service levels; analyzes trends and implements action plans to sustain operational performance and meet business demand
Managerial Responsibilities:This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.
- Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals
- Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement
- Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions
- Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues
- People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance
- Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions
- Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization
- Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work
Required Qualifications:- Significant experience supporting a process end-to-end, including but not limited to understanding the client experience, the products, the process flow, the systems, the control points, the risks, and the metric targets
- Experience with leading/driving Operational Excellence-type initiatives with focus on volume reduction and productivity enhancement
- Demonstrates a proactive approach to bringing forward new ideas and perspectives to drive innovation and deliver differentiated solutions.
- Displays a willingness to challenge the status quo, champion new approaches, and promote positive organizational change.
- Demonstrated ability to drive change within teams by influencing stakeholders, fostering a culture of continuous improvement, and leading initiatives that enhance processes, efficiency, and overall performance.
- Strong executive presence and written communication skills; able to influence/challenge and negotiate to keep all parties engaged in the process
- Intermediate Microsoft 365 ability, including Excel (pivot tables, lookup functions, data analysis), PowerPoint (executive-level presentations), Teams facilitation, and Copilot adoption
Desired Qualifications:- Certified Process Owner or Process Owner Delegate
- 4+ years of direct people leadership experience, including coaching, employee development, prioritization, performance management, and fostering an inclusive, high-performing team environment
- Familiarity with 401(k) product and Cashiering/MLII/iGate applications
- Knowledge of Wealth Management Operations and Workplace Benefits functions, targeted client experiences, products, and business partner organizations
Skills:- Customer Service Management
- Regulatory Compliance
- Risk Management
- Stakeholder Management
- Talent Development
- Business Operations Management
- Change Management
- Customer and Client Focus
- Decision Making
- Relationship Building
- Business Process Analysis
- Career Path Design
- Organizational Effectiveness
- Strategic Thinking
- Strategy Planning and Development
Internal employees who are currently working from home are still eligible to apply. However, if selected for the role, you may be required to work onsite in accordance with the workplace excellence policy
Shift:1st shift (United States of America)
Hours Per Week: 40
Pay Transparency detailsUS - NJ - Pennington - 1400 American Blvd - Hopewell Bldg 4 (NJ2140)
Pay and benefits information
Pay range
$107,100.00 - $162,200.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
Benefits
This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
