Assistant Vice President/Vice President, Network Management (Third Party Management), Chief Technology Organization

  • Competitive
  • Hong Kong
  • Permanent, Full time
  • Bank Of America / Merrill Lynch
  • 16 Nov 18

Assistant Vice President/Vice President, Network Management (Third Party Management), Chief Technology Organization

About Bank of America Merrill Lynch:
Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the World
Our Asia Pacific team is spread across 23 offices in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region's leading financial services companies.

Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion mission.

Bank of America Merrill Lynch is an equal opportunities employer.

Position Description
Background: The Network Management department represents a unique opportunity and role within Third Party Management group.

The Network Management function resides within the Global Technology & Operations area and provides planning, sourcing, contracting and on-going monitoring of providers of clearing, settlement, custody & correspondent services, including financial Market utilities to Bank of America Merrill Lynch group companies covering; cash management, trade finance, credit, securities and derivative products across multiple lines of business to ensure services are fit for purpose, value for money, secure and are regulatory compliant.

The current role involves the management and oversight of high profile Third Party relationships that Bank of America Merrill Lynch maintains across the Asia Pac region. It also has responsibility for managing the Bank's expenditure with Third Party providers to ensure effective cost management on an ongoing basis. Regular cost analysis and fee reviews form an integral part of the role. Collection and dissemination of market information is critical to ensure informed strategic decisions can be made. Network Management is regularly called upon for client interaction to deliver post trade market related information that has an impact upon the Bank and its client base. The ongoing support required of Network Management both internally and externally requires that the role is a permanent one to ensure consistent levels of delivery are met to all stakeholders.

Key Responsibilities
As part of the function, Network Management offers the opportunity to:

  • Manage external relationships on behalf of the Bank and work within a team that acts as a point of escalation for numerous lines and business and operational departments.
  • Obtain a strong regulatory, compliance and risk understanding in terms of the appointment and management of third parties. Learn and develop key negotiation skills.
  • Represent the Bank at external industry forums and client meetings. Support the design of processes for the Network Management department which will provide oversight of third party relationships for the portfolio of Third Party Partner Banks and Financial Market Utilities. Identify current processes in use by multiple LOBs. Assess current processes and identify best practices for implementation. Identify gaps and the methodology to close them to move the organization to the required end state.
  • Completes tasks of moderate to advanced complexity related to the operation, utilizing data and reporting within and across business units. Communicates, influences and negotiates both vertically and horizontally to ensure the success of activities. The incumbent is responsible for providing multiple lenses to analyze data and provide recommendations to executives for risk-based and strategic assessments and serves as an effective leader or contributor to a variety of teams. This position provides the incumbent with exposure to business-related issues and the opportunity to enhance analytical, business judgment, and written/communication skills for recommending and executing various alternatives.
  • Prior experience in Operations organizations as well as experience with building a team / organization. Experience and understanding of Operational metrics and assessing risk through data driven methods in addition to reviewing results with external parties and senior executives across Bank of America.
  • Consult with senior management in multiple LOBs to identify and document current processes in use as related to Third Party Network Management.
  • Identify process gaps against OCC regulations. Work virtually to develop a roadmap to close process gaps and execute upon that plan.
  • Execute upon governance structure for responsible portfolio of relationships.
  • Identify opportunities to streamline processes to create effective & efficient work functions while maintaining a level of excellence. Will work in a global environment with the need to negotiate and/or influence decisions

Key Requirements
  • Experience with Third Party Management Processes and/or related Operations or Line of Business Processes and understanding of multiple cash products and clearings with a working understanding of cash correspondent relationships
  • Understanding of Operational Risk and the Bank of America Risk Framework with knowledge of regulations and the impacts of non-compliance
  • Ability to manage multiple and competing priorities and deliver results under pressure
  • Ability to work effectively across cultures and with multiple levels of leadership and manage / resolve escalations from multiple LOBs Ability to understand and articulate complex concepts
  • Highly collaborative, execution driven and works through influence and engagement and has ability to communicate effectively
  • Strong interpersonal skills with ability to build relationships with internal stakeholders and external Banks/Partners Detail orientation while seeing the big picture
  • Ability to bring multiple stakeholders together, directly address issues to reach consensus & decisions, and demonstrate personal courage
  • Positively represent the bank and the Network management group at industry forums, client meetings, and relationship events
  • Ability to work with, interpret and review data and metrics (I.e. performance data, invoicing, pricing, market), make decisions and/or present data in various formats depending on the audience
  • Intermediate experience with Microsoft Suite of products including Excel, PowerPoint, Work, SharePoint, etc.
  • Ability to work well as part of a team as well as independently
  • Pro-active and Intellectually curious (keeps up with new products / market changes and anything impacting bank portfolio)
  • Process engineering /design/improvement skills

  • Some understanding of RFP selection process and e-2-e understanding of relationship impacts from selection / non-selection
  • Direct experience with Clients, External Third Parties and/or Regulators

Posting Date: 08/11/2018
- Singapore

Full / Part-time: Full time
Hours Per Week: 40