Contract Manager I

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 a diverse and 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.

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

Job Description Details:

In Global Payments Solutions our purpose is to develop and deliver a robust set of payment  solutions in support of our eight lines of business so consumers  and businesses  choose us for their financial transaction and cash management needs.  Work with us at the confluence of responsible growth, risk management and exceptional client care as a critical part of the Contract Management team. The team closes contractual negotiations with Bank of America clients around the world as quickly and efficiently as possible, reducing time to revenue and minimizing legal costs, while protecting both the client relationship and BofA’s risk position.

The Contract Manager serves as an internal “business consultant” regarding all contract matters and performs the most complex work associated with client contracting services for the organization. That work includes drafting, negotiating, reviewing and administering complex, high-value, multifaceted contracts, while working closely with business stakeholders and external clients.

Responsibilities:

• Apply experience, industry standards and knowledge of treasury management products, corporate formation documents, and Bank of America policies to address related credit, risk, compliance, legal, operational, and business issues with our clients in the United States and Latin America. The broader contract management team supports all GPS cash management business which includes trade services, card products, and deposit account control agreements.

• Draft, negotiate, review and administer complex, high-value, multifaceted contracts, working closely with business stakeholders and external clients.

• Facilitate communications among sales, implementation, product, operations, compliance, risk, credit officers, legal staff, and client managers to promptly resolve documentation issues

• Perform analytic, legal and business reviews of contractual language in contracts, schedules and amendments and develop general, special and operational provisions in contracts to ensure maximum benefit to the company and to limit risk.

• Apply strong verbal and written communications skills to represent Bank of America in negotiations and communications with clients, stakeholders and internal/external counsel at all levels of management.

• Conduct contract administration duties including contract request receipt, contract documentation, execution and record-keeping, ensuring the smooth flow of contract execution and administration.

• Develop strategies to resolve and manage potential problems on major contracts to effectively meet organizational goals and objectives.

• Assess and advise business personnel of contractual issues and business risks associated with contracts to eliminate unnecessary liability, ensure compliance and reduce legal entanglements.

• Serve as an expert resource, reinforcing, advising and instructing company personnel on corporate policy, compliance and legal requirements, documentation standards and options and procedures related to developing contractual arrangements.

Required Qualifications:

• Strong communicators who value giving and receiving feedback, can easily build relationships and who are quick thinking, flexible and always learning and sharing knowledge

• Broad knowledge of and comfort working with complex legal documentation (contracts)

• Conduct negotiations effectively, balancing competing objectives to achieve optimal results

• Handle a full workload with tight deadlines and manage competing priorities

• Manage numerous competing, complex documentation assignments.

• Exercise sound judgment and independent decision-making, including knowing when to escalate contract matters and issues to managers and/or attorneys when appropriate.

• Maintain objectivity in balancing bank risk with client needs and satisfaction

• Reliability, discretion and ability to handle sensitive information and maintain confidentiality

Desired Qualifications:

• Previous financial services industry experience in corporate or commercial banking

• Previous legal experience a plus

• Company legal structures, e.g., sole proprietorships, partnerships, limited partnerships, LLCs, corporations, trusts, etc. knowledge

• Transaction banking products experience

Minimum Educational Requirements: Undergraduate/graduate degree required with Juris Doctorate degree, paralegal/technical contract training or equivalent work experience preferred (minimum three years)

Skills:

• Analytical Skills

• Verbal Communication Skills

• Written Communications Skills

• Negotiation Skills

• Organizational Skills

• Prioritization Skills

• •Strong project management and process skills, able to

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - IL - Chicago - 110 N Wacker Dr - Bank Of America Tower Chicago (IL4110)

Pay and benefits information

Pay range$97,300.00 - $130,400.00 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.