Operations Team Lead

Full Time | Central Toronto Roselawn, ONTARIO | 7 months
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Job Summary

Full Time

$131,666 Average salary of similar jobs | Check Salary...

Job Description

Job Description:

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. 


The Payments team processes incoming and outgoing electronic/manual payments for the Bank's clients, branches, and departments. The types of payments processed are Customer Transfers, Bank to Bank transfers, Payroll, Pension payments in various currencies including Bank Drafts and cheques. The Operations Team Lead is responsible for providing effective leadership and guidance to employees on the day-to-day processing of electronic and manual payments and adheres to, and ensures, established deadlines are met. The Operations Team Lead will process month end reporting and metrics as required. The successful candidate will ensure client expectations are met at all times.

This position will be required to work weekends and/or statutory holidays, as required.


  • Repair, verify/authorize and release electronic payments on both GBS (Global Banking System)/AS400 systems
  • Open on-line investigation cases and complete investigations for same day wires and other queries as received ensuring timelines and client expectations are met
  • Monitor payment queues to ensure all items are processed timely and cleared by end of processing day
  • Provide effective coaching and guidance to employees within the group regarding procedural, technical and/or operational changes
  • Drive process improvements to increase efficiency and timeliness metrics
  • Monitor and route the incoming SWIFT/GMX messages to various departments within Operations, as required
  • Process bulk files/pension payments
  • Process Exotic Currency payments
  • File, and send files to offsite storage and maintain storage records
  • Process manual payments/accounting entries
  • Process Electronic Funds Transfer (EFT) files
  • Handle other payment process-related duties/functions as assigned including data entry into various systems supported
  • Act as a resource on User Acceptance testing (UAT) and Performance Acceptance Testing on AS400 and GBS platform
  • Provide input on application to Local Canadian International Payment Rules and Regulations (LVTS/ACSS/FEDWIR and others)
  • Maintain operational controls


  • Three to five years of experience in payments processing with financial institutions
  • Working knowledge of AS400/GBS
  • Knowledge of payment process and Canadian clearing systems/rules
  • Familiarity with SWIFT messages and proper formatting
  • Strong Accounting skills
  • Strong people and customer service skills
  • Proven track record in independent handling of projects or initiatives
  • Proficiency with Excel, Word, GMX/SWIFT Alliance systems and keyboarding skills
  • Excellent communication and problem solving skills
  • Demonstrated initiative and the ability to work with minimal supervision
  • Team player with demonstrated leadership skills
  • Ability to meet established deadlines in a fast paced environment
  • Willingness to learn and take on new tasks, as required
  • Availability to work various shifts, statutory holidays and weekends, as required
  • Post-Secondary education
  • Ability to write test scripts and participate in User Acceptance Testing and other payment system testing, as required
  • Strong problem solving skills and ability to multi-task and identify root cause of payment failures or errors

What Bank of America Merrill Lynch Offers

Bank of America Merrill Lynch embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Merrill Lynch for our clients, our shareholders and our employees.

Bank of America Merrill Lynch places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity and accountability at all levels of the organization.

Bank of America Merrill Lynch is an Equal Opportunity Employer.

Bank of America Merrill Lynch encourages applications from all qualified individuals. Applicants with disabilities may notify us of any accommodations needed to support your participation in the recruitment process. We wish to thank all applicants for their interest and effort in applying. Please be aware that only candidates selected for interviews will be contacted for this positio

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