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Contract Manager I - Merchant Services

Company: Bank of America
Location: Louisville
Posted on: November 25, 2022

Job Description:

Contract Manager I - Merchant ServicesCharlotte, North Carolina;Louisville, Kentucky; Atlanta, Georgia; New York, New York; Chicago, Illinois; Wilmington, DelawareJob Description:Prepares, reviews, negotiates, and executes agreements including master agreements and supporting documentation for account opening, treasury management, card, foreign exchange and trade services. Applies experience, industry standards and knowledge of account documentation and products, and Bank of America policies to address related credit, risk compliance, legal, operational and business issues. Facilitates communications among sales, implementation, product, operations, compliance, risk, credit officers, legal staff, and client managers to promptly resolve documentation issues. Capable of organizing and prioritizing a large number of competing, complex documentation assignments to meet customer needs. Has excellent analytical, verbal and written communications skills and is comfortable representing the bank in communications with associates, clients and internal/external counsel at all levels of management. Advises and educates internal associates about documentation standards and options, policies and procedures.The Merchant Services Contract Manager is responsible for managing the lifecycle of client contracts which includes the preparation, review, negotiation, and administration of business contracts with clients and other third parties. Works very closely with business stakeholders and ensures all contracts comply with the companys policies and procedures, legal and risk requirements, and financial control guidelines. Contract administration duties including receiving all contract requests, contract documentation, execution and record-keeping. Serves as business consultant regarding contract matters and performs the most complex work associated with client contracting services for the organization. Prepares reports and keeps meticulous records regarding work in progress and contract exception requests.

  • Draft, negotiate, review and administer complex, high-value, multifaceted contracts, working closely with business stakeholders and customers.
  • Perform contract analytic, legal and business reviews of contractual language in contracts, schedules and amendments.
  • Develops general, special and operational provisions in contracts to ensure maximum benefit to the company and limitation of risk.
  • Exercise sound judgment and independent decision-making, including knowing when to escalate contract matters and issues to manager and/or attorneys when appropriate.
  • Coordinate with all levels of management to gather, analyze, summarize and prepare recommendations on contracting strategies, practices and procedures.
  • Maintain the contract management process to ensure the smooth flow of contract execution and administration.
  • Serve as an expert resource on company policies and procedures related to contracting.
  • Assess and advise business personnel of contractual issues and business risks associated with contracts to eliminate unnecessary liability, ensure compliance, and reduce legal entanglements.
  • Reinforce and instruct company personnel on corporate policy, compliance and legal requirements in developing contractual arrangements.
  • Develops strategies to resolve and manage potential problems on major contracts to effectively meet organizational goals and objectives.Required Skills:
    • A minimum of five to seven years related work experience, which includes drafting and negotiating complex contracts
    • Bachelors or Juris Doctorate degree or equivalent work experience
    • Ability to meet critical deadlines
    • Ability to lead groups
    • Ability to develop processes and proceduresDesired Skills:
      • Previous payment/financial services industry experience
      • Previous legal experience and/or law degree/certification a plus
      • Knowledge of payment processing platforms, products and services pertaining to completion of contracts
      • Superior knowledge of contract law and legal requirements for contracts
      • Strong critical thinking and negotiation skills, business sense and interpersonal skills
      • Strong oral and written communication skills
      • Superior ability to multi-task and prioritize a wide array of initiatives, as well as organizational skills
      • Positive attitude, strong work-ethic and willingness to work under pressure to meet guidelines
      • Reliability, discretion and ability to handle sensitive information and maintain confidentialityJob Band:H5Shift:1st shift (United States of America)Hours Per Week:40Weekly Schedule:Monday - Friday, 8am - 5pmReferral Bonus Amount:0Job Description:Prepares, reviews, negotiates, and executes agreements including master agreements and supporting documentation for account opening, treasury management, card, foreign exchange and trade services. Applies experience, industry standards and knowledge of account documentation and products, and Bank of America policies to address related credit, risk compliance, legal, operational and business issues. Facilitates communications among sales, implementation, product, operations, compliance, risk, credit officers, legal staff, and client managers to promptly resolve documentation issues. Capable of organizing and prioritizing a large number of competing, complex documentation assignments to meet customer needs. Has excellent analytical, verbal and written communications skills and is comfortable representing the bank in communications with associates, clients and internal/external counsel at all levels of management. Advises and educates internal associates about documentation standards and options, policies and procedures.The Merchant Services Contract Manager is responsible for managing the lifecycle of client contracts which includes the preparation, review, negotiation, and administration of business contracts with clients and other third parties. Works very closely with business stakeholders and ensures all contracts comply with the companys policies and procedures, legal and risk requirements, and financial control guidelines. Contract administration duties including receiving all contract requests, contract documentation, execution and record-keeping. Serves as business consultant regarding contract matters and performs the most complex work associated with client contracting services for the organization. Prepares reports and keeps meticulous records regarding work in progress and contract exception requests.
        • Draft, negotiate, review and administer complex, high-value, multifaceted contracts, working closely with business stakeholders and customers.
        • Perform contract analytic, legal and business reviews of contractual language in contracts, schedules and amendments.
        • Develops general, special and operational provisions in contracts to ensure maximum benefit to the company and limitation of risk.
        • Exercise sound judgment and independent decision-making, including knowing when to escalate contract matters and issues to manager and/or attorneys when appropriate.
        • Coordinate with all levels of management to gather, analyze, summarize and prepare recommendations on contracting strategies, practices and procedures.
        • Maintain the contract management process to ensure the smooth flow of contract execution and administration.
        • Serve as an expert resource on company policies and procedures related to contracting.
        • Assess and advise business personnel of contractual issues and business risks associated with contracts to eliminate unnecessary liability, ensure compliance, and reduce legal entanglements.
        • Reinforce and instruct company personnel on corporate policy, compliance and legal requirements in developing contractual arrangements.
        • Develops strategies to resolve and manage potential problems on major contracts to effectively meet organizational goals and objectives.Required Skills:
          • A minimum of five to seven years related work experience, which includes drafting and negotiating complex contracts
          • Bachelors or Juris Doctorate degree or equivalent work experience
          • Ability to meet critical deadlines
          • Ability to lead groups
          • Ability to develop processes and proceduresDesired Skills:
            • Previous payment/financial services industry experience
            • Previous legal experience and/or law degree/certification a plus
            • Knowledge of payment processing platforms, products and services pertaining to completion of contracts
            • Superior knowledge of contract law and legal requirements for contracts
            • Strong critical thinking and negotiation skills, business sense and interpersonal skills
            • Strong oral and written communication skills
            • Superior ability to multi-task and prioritize a wide array of initiatives, as well as organizational skills
            • Positive attitude, strong work-ethic and willingness to work under pressure to meet guidelines
            • Reliability, discretion and ability to handle sensitive information and maintain confidentialityShift:1st shift (United States of America)Hours Per Week:40Learn more about this roleFull timeJR-22081539Band: H5Manages People: NoTravel: Yes, 5% of the timeManager:Talent Acquisition Contact:Alexandra MurilloReferral Bonus:0New York City pay and benefits informationNew York City pay range:$84,400 - $112,200annualized 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, 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.Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf) .Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE .

Keywords: Bank of America, Louisville , Contract Manager I - Merchant Services, Executive , Louisville, Kentucky

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