Vice President, Fulfillment and Services Head of Payment Operations and Regulatory Reporting

  • Competitive
  • Kuala Lumpur, Malaysia Kuala Lumpur Kuala Lumpur MY
  • Permanent, Full time
  • Bank Of America / Merrill Lynch
  • 23 Jun 18 2018-06-23

Vice President, Fulfillment and Services Head of Payment Operations and Regulatory Reporting

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
Global Wholesale Banking Technology & Operations is seeking to expand its services & infrastructure in Asia. The business is looking for dynamic and talented individuals to support the strategy in order to meet the growth demands from clients and client management groups in the product areas of Payments/Wire, Trade & Credit Services, Bank Notes, Commercial cards etc.
This position requires incumbent to manage and control daily operations and administration of the payments unit in addition to managing the overall regulatory reporting review and preparation in FSO not limiting to ITIS, CCRIS, PIDM reporting.

Key Responsibilities

  • Payment Operations
  • Manage and control daily operations and administration of the payments unit
  • Manage, coach performance of employees, vendor staff and unionized staff to achieve excellent results, including ensuring strong awareness of the Bank's operation risk management procedures
  • Ensure timely adherence to SLA, regulations and internal procedures and policies, including timely and effective escalation
  • Ensure standardization of processes to achieve efficiency and customer delight. Review and document non-standard processes in accordance with the Bank's procedures and policies. Escalate/Risk accept where required
  • Implement strong internal control systems and monitor their effectiveness not limiting to review of daily control checklist/health indicators, update desk top procedures, share knowledge and adopt best practices, manage remediation of audit/self-identified findings
  • Ensure effective business continuity plan is in place
  • Represent the Bank in Markets/Regulators engagement. Lead, direct, monitor the delivery and implementation of regulatory/markets initiatives on payment systems. Co-ordinate with Product, Technology and all Key Stakeholders to ensure successful implementation
  • Support the Bank's digital/transformation strategy
  • Regulatory Reporting
  • Manage overall regulatory reporting review and preparation in FSO not limiting to ITIS, CCRIS, PIDM reporting
  • Represent the Bank as the primary liaison with Bank Negara Malaysia and other regulator e.g. Paynet, PIDM. Point of contact for ad-hoc queries, escalation, projects and any related communication on regulatory reporting matters
  • Liaison with other departments/business units in collating data required for regulatory reporting. Provide leadership to ensure clear roles and responsibilities are understood
  • Implement sound internal control procedures over the production and submission of regulatory reporting to ensure accuracy and timeliness of reporting to prevent penalties from BNM
  • Implement regulatory obligations/reporting governance process i.e. from the issuance of the regulation to implementing the regulation including establishing sustainable quality assurance programs
  • Manage compliance and audit controls, timely mitigation/remediation of risks related to regulatory reporting
  • Manage effective resource planning, forecasting and staffing of teams, establish training requirements to ensure high performance/competent staffing level
  • Execute and integrate new capabilities as required to facilitate regulatory reporting. Lead and support regulatory reporting projects
  • Develop and execute business continuity and event management processes

Key Requirements
  • Minimum 5 years of direct working experience in leading the payment operations and regulatory reporting function
  • Strong people manager
  • Knowledge on local and cross border payments e.g. SWIFT, payment channels
  • Knowledge of all applicable regulatory reporting requirement and guidelines
  • Hands-on in key regulatory reporting e.g. ITIS, CCRIS, PIDM reporting is an added advantage
  • Project management and change management skills
  • Sound knowledge of procedures and risk management/effective Quality Assurance
  • Ability to work with a sense of urgency to meet internal and regulatory deadlines and address competing priorities.
  • Ability to manage alliances, relationship with regulator(s), internal/external stakeholders, cross functional initiatives and process integration
  • Solid knowledge on problem analysis and problem-solving
  • Effective written, listening and verbal communication skills
  • Self-motivated, diligent and meticulous

Posting Date: 07/06/2018
67 JALAN RAJA CHULAN - Kuala Lumpur
- Malaysia

Full / Part-time: Full time
Hours Per Week: 39