Job description

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us! Job Summary: This job is responsible for managing the assessment, development, execution, and oversight of process improvement and transformation initiatives in support of Operational Excellence objectives to achieve short and long-term strategic goals. Key responsibilities include demonstrating correlation between process engineering best practices, breakthrough productivity, customer satisfaction, and measurable continuous process improvement results. Job expectations include partnering with business executives and deployment champions to make strategic project implementation and budgeting decisions. In this job as Process Owner, you will own a group of processes in the Single Process Inventory (SPI). Key focus areas include: 1) understanding the processes, 2) managing process health and 3) improving the end to end process in support of operational excellence objectives. You will need to address root cause of performance, create actions plans to mitigate risks. You will need to analyze processes and document business case opportunities/efficiencies/benefits to drive process improvements. Improvements may result in cost efficiencies, quality, productivity, and risk mitigation. Job expectations include working with business leaders and subject matter experts, ensuring collaboration and transparency across key partners. Responsibilities: • Implements highly complex solutions in support of performance plan objectives to resolve issues and risks, optimize efficiency, reduce variability, and improve controls, effectiveness, quality, and sustainability • Oversees partnerships with support organizations and Line of Business (LOB) partners to gather information needed to support the implementation of solutions that resolve critical business challenges and opportunities • Integrates process design best practices and applies business redesign concepts to ensure continuous process improvement tactics are in alignment with long-term strategic goals • Manages change by establishing appropriate governance routines to inspect the health of programs and project portfolios aligned to a unit or division within an LOB • Ensures Enterprise Change Management policies and standards are applied and adopted to change initiatives in partnership with LOB stakeholders • Document end to end process maps, controls, metrics, risks, and customer impacts • Ensure the process is performing effectively and risks are well controlled • Monitor key performance metrics for process and controls • Review metrics, discuss action plans and provide input to solve for open issues • Own all deliverables related to SPI • Champion continuous improvement to enhance the client experience • Capture feedback to identify and prioritize improvement opportunities • Simplify the process before leveraging technology to enhance or automate • Connect with OpEx Champion to ensure the improvement idea is captured (initiate funding request, if needed) and implement process enhancements • Implement solutions to address issues and risks, optimize efficiency, reduce variability, and improve controls, quality, and sustainability • Gather feedback and identify needs for further training and/procedure updates • Take ownership of response/approvals for requests related to regulatory exams, internal audits, and other monitoring and inspection reviews • Gather information needed to identify and implement solutions that resolve critical business challenges and opportunities • Leverages analytics and critical thinking solve problems and translate issues into process improvements with clearly defined business case benefit Required Qualifications: • Experience in process owner roles or process design, including experience with Single Process Inventory • Experience in managing risk and drive process improvement • Executive presence and ability to lead meetings, including meetings with executive participants • Demonstrated problem solving, strong follow-up skills and ability to escalate and gain resolution as needed • Ability to juggle multiple responsibilities and prioritize when needed • Proficiency in day-to-day risk identification and mitigation, and ability to communicate and reinforce the bank’s risk culture • Strong written, oral, and active listening communication skills, including ability to influence partners at all levels in the organization and drive consensus • Strong attention to detail and a passion for ensuring flawless execution • Intellectual curiosity and the willingness to challenge the status quo • Strong critical thinking and problem solving, strategy planning and project management experience • Self-starter with ability to work with minimal supervision • Effective communication (both in writing and when speaking) using clear, concise and simple language. • Organizationally savvy; knows how to make connections across geographies, businesses and hierarchies to get things done • Demonstrated ability to encourage collaboration, connection and teamwork within and beyond his/her team • Bachelor’s degree or equivalent work experience Desired Qualifications: • Previous experience and/or in depth knowledge of Client Protection Claims processes • Previous experience in Controls/Risk • Process Management Certification Skills: • Business Process Analysis • Continuous Improvement • Process Design • Process Management • Process Performance Measurement • Conflict Management • Critical Thinking • Program Management • Scenario Planning and Analysis • Strategic Thinking • Decision Making • Drives Engagement • Relationship Building 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 details US - RI - Lincoln - 670 George Washington Hwy (RI1541) Pay and benefits information Pay range $127,500.00 - $161,300.00 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.

Requirements

Must-haves

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Implements highly complex solutions in support of performance plan objectives to resolve issues and risks, optimize efficiency, reduce variability, and improve controls, effectiveness, quality, and sustainability
Oversees partnerships with support organizations and Line of Business (LOB) partners to gather information needed to support the implementation of solutions that resolve critical business challenges and opportunities
Integrates process design best practices and applies business redesign concepts to ensure continuous process improvement tactics are in alignment with long-term strategic goals
Manages change by establishing appropriate governance routines to inspect the health of programs and project portfolios aligned to a unit or division within an LOB
Ensures Enterprise Change Management policies and standards are applied and adopted to change initiatives in partnership with LOB stakeholders
Document end to end process maps, controls, metrics, risks, and customer impacts
Ensure the process is performing effectively and risks are well controlled
Monitor key performance metrics for process and controls
Review metrics, discuss action plans and provide input to solve for open issues
Own all deliverables related to SPI
Champion continuous improvement to enhance the client experience
Capture feedback to identify and prioritize improvement opportunities
Simplify the process before leveraging technology to enhance or automate
Connect with OpEx Champion to ensure the improvement idea is captured (initiate funding request, if needed) and implement process enhancements
Implement solutions to address issues and risks, optimize efficiency, reduce variability, and improve controls, quality, and sustainability
Gather feedback and identify needs for further training and/procedure updates
Take ownership of response/approvals for requests related to regulatory exams, internal audits, and other monitoring and inspection reviews
Gather information needed to identify and implement solutions that resolve critical business challenges and opportunities
Leverages analytics and critical thinking solve problems and translate issues into process improvements with clearly defined business case benefit
Experience in process owner roles or process design, including experience with Single Process Inventory

Nice-to-haves

Previous experience and/or in depth knowledge of Client Protection Claims processes
Previous experience in Controls/Risk
Process Management Certification

Application prep

Use the role’s language and application details while tailoring your materials.

Platform: workday
Effort: long

Benefits

Benefits detected in the listing.

Vision

Paid Time Off

Wellness