Transaction Processing Associate Jobs in Monmouth Junction, NJ

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial

wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

This job is responsible for managing a unit for a site, region, or product line within the bank's internal operations. Key responsibilities include identifying, analyzing, and resolving highly complex problems, ensuring compliance with policies, and developing and implementing new processes to improve operating efficiency and ensure accuracy of workflow. Job expectations include managing employee performance, development, talent planning, and overseeing the budget, expenses, reporting, and forecasting.

Line of Business Description:

Upon the receipt of brokerage transaction requests requiring additional review, the Transaction Processing team ensures transactions are validated for accuracy and completeness. Once the review is completed, the team manages the resolution of transaction requests to support the secure, reliable movement of client assets and funds.

Responsibilities:

• Oversees end-to-end processes and ensures adherence to bank and regulatory policy and procedures when making decisions that impact various operations and product lines by overseeing transaction reviews to confirm authorization, documentation, funding availability, and risk requirements before approval decisions

• Develops and analyzes procedures to enhance unit and/or product-related activities and oversees budget and expense management, reporting, and forecasting for designated areas by directing transaction review practices and ensuring consistent execution of approval, exception, and return workflows

• Manages staffing levels and capacities, prioritizes employee development by providing effective coaching and training, and shares constructive feedback to drive Operational Excellence by aligning team resources to transaction volumes and coaching associates on complex financial transaction reviews

• Implements improvements to drive the growth to the overall processes and identifies data, metrics, and key performance indicators to measure process effectiveness by monitoring transaction approvals, exceptions, and returns to improve accuracy, efficiency, and service levels

• Aligns bank priorities and strategies to employee metrics and goals, evaluates employee progress, and strives to recognize, encourage, and improve team performance to support an inclusive work environment by setting expectations for quality, risk management, and timely transaction decisions while supporting employee development and performance outcomes

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: Creates an inclusive team where members are treated fairly and respectfully

• Manager of Process & Data: Demonstrates and expects process knowledge, data driven decisions, simplicity and continuous improvement

• Enterprise Advocate & Communicator: Delivers clear and concise messages that motivate, convey the "why" and connects contributions to business results

• Risk Manager: Leads and encourages the identification, escalation and resolution of potential risks

• People Manager & Coach: Knows and develops team members through coaching and feedback

• Financial Steward: Manages expenses and demonstrates an owner's mindset

• Enterprise Talent Leader: Recruits, on-boards and develops talent, and supports talent mobility for career growth

• Driver of Business Outcomes: Delivers results through effective team management, structure, and routines

Required Qualifications:

• Minimum of 4 years of experience in operations, finance, accounting, or a related function within a regulated or process-driven environment, including experience managing or leading a team

• Experience overseeing operational processes, ensuring adherence to established procedures, service levels, risk controls, and regulatory requirements

• Experience reviewing financial transactions, operational activity, or complex documentation to identify discrepancies, mitigate risk, and support accurate decision-making

• Experience managing workflow, staffing, or capacity planning activities to meet business priorities and operational performance objectives

• Experience analyzing operational metrics, reporting, or performance trends to identify issues, improve processes, and support business decision-making

Desired Qualifications:

• Experience managing operations within financial services, wealth management, banking, accounting, or other highly regulated industries

• Experience supporting budgets, forecasting activities, resource planning, or operational capacity management

• Experience leading process improvement initiatives through the use of operational metrics, quality reviews, or performance reporting

• Advanced experience using Microsoft Excel to analyze data, identify trends, and support operational reporting

• General knowledge of brokerage transactions, investment products, account servicing, or transaction processing operations

Skills:

• Business Operations Management

• Customer Service Management

• Performance Management

• Process Performance Measurement

• Talent Development

• Account Management

• Client Management

• Leadership Development

• Process Management

• Relationship Building

• Hiring and Onboarding

• Policies, Procedures, and Guidelines Management

• Process Design

• Risk Management

• Workforce Analytics

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - NJ - Pennington - 1400 American Blvd - Hopewell Bldg 4 (NJ2140)Pay and benefits informationPay range$72,100.00 - $109,200.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.