GPS Innovation Business and Strategy Lead

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 Description:

Drives development of GPS Innovation strategic direction and execution of related initiatives across the organization.  Supports senior leaders across the payments space. Leads sourcing and progression of concepts through the innovation funnel articulating client pain points, potential solutions, applicable frameworks, business economics, etc. Partners with SMEs across the organization to flesh out concepts and next steps. Develops requirements for test and learn, success metrics and criteria for proofs of concepts.  Takes learnings to design a phased commercialization approach partnering with product to deliver on concept vision.

Responsibilities:

• Design and develop business requirements based on a true understanding of client needs, working closely with cross-functional partners to inform scope and solution design of new functionality for Corporate, Customer-facing and Associate-facing solutions

• Develop subject-matter expertise and business acumen in order to design and implement these payment solutions

• This will be an individual contributor role working across consumer, small business, wealth and corporate banking client segments.

• Develop Innovation concepts for Global Payments Solutions

• Partner with LOB SMEs to evaluate and flesh out concepts

• Create business cases to prioritize opportunities

• Conduct analyses, extract insights, and communicate finding simply and succinctly

• Develop and track metrics to understand viability of concepts

• Improve visibility and usability of learnings from assessment of Innovation concepts to support strategic decision making

• Maintain visibility into Payments industry trends and developments

• Deliver payment solutions in business, technology or operations role with proven track record on managing projects end-to-end through the system development lifecycle, bringing new capabilities to market.

• This job is responsible for leading diverse functions across a broad range of strategic functions. Key responsibilities include consulting with senior management to define and lead projects that encompass and impact many associates and assisting with the execution of key strategic initiatives.

• Job expectations include having knowledge of general bank policies, programs, and procedures and financial and accounting practices.

Required Qualifications:

• Three years of related experience

• Project management and risk governance

• Relevant business experience and comfort with basic financial modeling (i.e. corporate finance, corporate strategy, consulting)

• Proficiency in Microsoft Office (comfort with Excel and PowerPoint are required)

• Excellent verbal and written communication skills

• Ability to navigate a large, matrixed organization

• Ownership of innovation concepts and initiatives

• Ability to problem solve and work innovatively within the constraints of a regulated organization

• Intellectual curiosity with an ownership mentality

• Collaborative and able to bring cross-functional teams together

• Coaches junior teammates and assists with development of “what” and “how”

• Partners with senior leaders across the organization to screen potential innovation concepts and areas of interest

Desired Qualifications:

• Payments experience

• MBA

Skills:

• Attention to Detail

• Business Analytics

• Business Intelligence

• Data and Trend Analysis

• Reporting

• Analytical Thinking

• Data Management

• Data Mining

• Presentation Skills

• Research

• Continuous Improvement

• Data Visualization

• Innovative Thinking

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range$98,300.00 - $134,000.00 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.