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:
Our Business
The Head of Trade in China is responsible for driving the growth agenda of trade in China at Bank of America. This includes the development and execution of the Trade Strategy in China from an end-to-end product management and product sales perspective in collaboration with Treasury Sales, Corporate Bank and the rest of the franchise. The Head of Trade will be leading a team of product and program management team as well as coordinate the specialized product sales team in China to deliver these results.
China is an important growth market for Global Payment Solutions GPS) at Bank of America and Trade and Supply Chain Finance is a critical component of GPS. Trade and Supply Chain Finance serve our financial institutions and corporate clients through a wide range of trade finance products ranging from traditional trade documentary trade to supply chain solutions and short-term export credit agency backed financing.
Responsibilities:
- Development and execution of the China Trade Strategy in alignment with the Global and Regional Trade Strategies to achieve the Trade growth plans for China
- Responsibility of the Trade Revenue plan, Trade Profit & Loss and Balance Sheet in China to ensure that the trade business meets all its required revenue and return targets. This also includes supporting regular revenue, balance sheet, and asset projections across Trade products in China.
- Drive the Trade Specialized Product Sales (SPS) agenda in China overseeing the trade sales activity, pipeline development and execution in the market.
- Partnering closely with Treasury Sales Officers, Corporate Bankers and regional SPS to identify priority clients and opportunities, manage client planning, originate new business and accelerate deal progression from origination through execution and revenue realization
- Promote solutions-led approach to Trade Sales connecting traditional trade capabilities with broader working capital, payments, liquidity and foreign exchange considerations where relevant to deliver more holistic client solutions
- End-to-end product development ensuring that all new product build and enhancements have a viable business case, built in the framework of our risk discipline and tracked for commercialization in collaboration with all business partners
- Partner with Operations, Technology and other risk partners to maintain the on-going end-to-end product delivery model of existing products with discipline to ensure such products are continuously delivered with improved client experience and ease of doing business
- Keep abreast of regulatory developments and changes in the China operating environment, assessing implications and opportunities for clients and the Trade business and communicating these to country and regional stakeholders. Work with risk partners on the implementation of required changes arising from such regulatory developments
- Represent GPS Trade in relevant in-country governance forums, including business controls and risk management committees, and ensure appropriate oversight of matters affecting the Trade business
- Coordinate Trade related regulatory and internal audit, compliance testing activity, working with relevant control and functional partners to ensure issues are addressed appropriately
- Represent the bank as a Trade thought leader in external forums, industry discussions and client events, bringing perspectives on working capital, supply chains, trade flows and evolving market developments
- Maintain competitive benchmarking of our trade products with our key competitors in order to identify product gaps, enhancements and plan to market
- Act as the conduit between China and the regional and global Trade organization, sharing market opportunities and client insights, leveraging expertise across markets and supporting consistent regional and global sales execution on multinational opportunities.
Skills:
- Strong leadership skills with over 10-15 years relevant trade finance experience in China who will be able to independently grow the trade business agenda.
- Critical and strategic mindset required to develop a Trade China Strategy and Business Plan
- Extensive sales and client management knowledge with clients operating in China and strong sales pipeline management discipline
- Strong understanding of the whole spectrum of Trade Finance products across the working capital cycle and how to leverage such products to provide holistic solutions across cash and liquidity management, risk mitigation and FX.
- Extensive analytical and financial acumen with experience in forecasting, balance sheet management, and performance reporting.
- Knowledge of regulatory governance, risk management, and control frameworks affecting Trade products with experience in handling regulatory inspections and examinations and regulatory reporting
- Excellent stakeholder management skills with the ability to coordinate across Product, Finance, Risk, Compliance, Legal, Operations, Sales, and Technology teams locally, regionally and globally.
- Strong communication, presentation, and problem-solving capabilities.
- Fluent written and spoken English and Chinese.
