Product Owner - Wire Payment Platforms

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:
Responsible for maximizing the value for a product. Defines the vision and roadmap for the product, defining and prioritizing stories in the product backlog, and articulating this to both stakeholders and the development team. Works closely with stakeholders to understand their needs, and with the Product Manager in a scaled Agile model to ensure there is alignment. Possess a working knowledge of the product, and basic understanding of the business or technology domain. With some guidance, creates the vision and roadmap for the product to align with strategic direction for the business or technology domain. Communicates the product vision and roadmap to stakeholders and the team. Collaborates with stakeholders to understand their needs and problems. Creates and prioritizes work for one team. Learning to collaborate with cross-functional teams. With some guidance, creates and prioritizes stories in the product backlog. Refines stories with the team to ensure there are enough ready stories to load the next 1-2 sprints. Reviews and accepts stories and is empowered to make on-the-spot decisions on scope and requirements. Works in partnership with the team to ensure that optimum value is obtained through technology and through an advanced understanding of the business. Individual contributor.

Position Summary:

We are seeking an experienced and technically proficient Product Owner to join our team in building a next-generation wire payment processing platform, with a strong understanding of payment methods such as Wires, ACH, and RTP. The ideal candidate will bring domain expertise in payment systems and settlement processes to ensure the platform meets industry standards and client expectation

What you will do:

• Leverage deep knowledge of payment rails (Wire Transfers, ACH, RTP) to define product capabilities and ensure compliance with regulatory and operational requirements.
• Ensure support for ISO 20022 messaging standards across all payment types.
• Validate that the platform supports risk management, fraud detection, and reconciliation processes for all payment types.
• Define and prioritize backlog items related to payment processing, clearing, and settlement for Wires, ACH, and RTP.
• Capture expected end-to-end behavior as stories, with use cases where appropriate.
• Support backlog refinement, sprint planning, user story review, test plan review, defect triage, and change request generation.
• Generate low-level design stories with supporting use cases, field-level mapping, and business rules/logic.
• Work with Product Team lead on US Wires Modernization platform build, driving communications across the spectrum, including senior stakeholder engagements.
• Collaborate with business partners and design teams to refine requirements and priorities in line with system capabilities, cost, and timelines.
• Identify and raise risks or additional changes to stakeholders and work with architecture/design teams to address them.
• Manage user queries during feature implementation and ensure timely resolution.
• Partner with architecture teams to design integration patterns for multiple payment networks and ensure scalability for real-time transactions.
• Work with architecture/design to identify technology capabilities needed to meet requirements.
• Recommend and implement data migration and integration strategies.
• Participate in system design, SIT, and UAT to ensure solutions meet requirements.
• Ensure knowledge sharing and training on new product features.
• Support PI planning and release train activities.

Required Qualifications:

• Ten plus years leveraging domain and technical expertise to set direction and drive project execution. Foresee and proactively address risks, issues, and dependencies.
• Strong understanding of domestic and international payment systems, including Wires, ACH, and RTP.
• Work with business, operations, internal technology teams, and with vendor partners to ensure successful project delivery.
• Act as the primary liaison between the vendor and internal technology teams.
• Manage stakeholder expectations with respect to scope, deliverables, and timelines.
• Coordinate and facilitate routines to support delivery – e.g. kick-offs, status reviews, stakeholder meetings, change controls, tollgates, etc. 
• Ensure execution and delivery meets stakeholder expectations in terms of the functionality, quality, timeline, and cost.
• Ensure Enterprise Change Management and other policy requirements for technology solutions are met for the epics/features delivered. 
• Measure delivery, maturity, and performance and review the metrics to identify improvement opportunities. Partner with multiple, cross-functional stakeholders across GPS, GT&O and other teams to drive development of execution plans to enable realization of GPE strategies. Execution plans outline multi-year strategic outcomes (based on target state) and the activities required to support achievement of those outcomes. 
• Summarize, create presentations, and present initiative-specific, compelling, executive-ready presentations conveying the strategy, business case, and recommendations to Senior and Executive Leadership across product, operations, technology, and compliance.
• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.
• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team-work.

Desired Qualifications:

• Experience with Financial core banking platforms and their integration patterns.
• Knowledge of ISO 20022 messaging standards.
• Exposure to event-driven architecture and distributed systems.
• Understanding of regulatory and compliance requirements in financial services.
• Experience with observability tools like Splunk, Prometheus, and Grafana.
• Knowledge of financial products data such as Equities, Fixed Income, and Derivatives.

Agile/Scrum certification or experience working in agile environments

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Jersey City - 101 Hudson St - 101 Hudson (NJ2101)

Pay and benefits information

Pay range

$89,200.00 - $154,600.00 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.