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:

This job is responsible for providing legal counsel and support to the Bank's Global Payments Solutions (GPS) business on legal, regulatory, and commercial matters relating to GPS products and services, including payments, merchant services, commercial card, deposits, liquidity management, receivables, and trade finance solutions. Key responsibilities include reviewing and negotiating legal documents, customer-facing documentation and commercial agreements, interpreting laws and regulations, performing legal research, and communicating legal advice to internal partners. Job expectations include directing the work of outside counsel on related matters, directing the work of other Legal staff and providing practical, risk-based legal advice on applicable laws, regulations, and industry developments to facilitate business growth, innovation, and the effective management of legal and regulatory risk.

Responsibilities:

• Analyzes legal issues and implications on products, services, and regulatory matters related to the Global Payment Solutions Business

• Communicates clear, concise, actionable, and business-informed legal advice, including occasionally to leadership

• Interprets rulings, laws, and regulations from a compliance and business control standpoint

• Provides high quality and responsive legal advice and support for cash management and treasury services, including domestic and international funds transfers (e.g., wire transfers and ACH), foreign exchange, check products, digital disbursements, electronic bill payment solutions, other payment services, and e-commerce initiatives.

• Gathers, assesses, and evaluates information from various sources with an open mind to make a judgment or inference

• Supports company responses to government agency examinations and investigations, enforcement actions, private complaints, and litigation

• Directs the work of outside legal counsel and may coordinate the work of other Legal staff such as Paralegals and trains, mentors, or supports the development of peers

• Advises on legal, regulatory, and operational matters relating to domestic and international payment, messaging, clearing, and settlement systems, including Fedwire, CHIPS, SWIFT, and other payment network infrastructures. Ensures legal and regulatory compliance across products, transactions, and business processes within assigned coverage areas

• Collaborates with compliance, risk, audit, and business stakeholders to identify and mitigate legal and regulatory risks

• Supports the development and implementation of innovative payment and treasury solutions by providing legal guidance on digital assets, stablecoins, blockchain and distributed ledger technologies, tokenized deposits, and other emerging financial infrastructure and digital payments initiatives

Required Qualifications:

• 6-12 years of law firm and/or internal counsel experience in the payments or financial services industry, including with respect to the cash management business, and a solid understanding of banking laws, regulations and rules impacting the above cash management services.

• Strong organizational, drafting and negotiation skills

• The ability to communicate clearly, both verbally and in writing, at all levels within the organization, including being able to make and communicate difficult decisions to appropriate persons in the organization.

• Strong work ethic and self-initiative, with the ability to manage a high volume of work in a fast-paced and changing environment

• Strong interpersonal skills with the ability to work well as part of a team with other lawyers, clients and other risk and business support partners

• The ability to effectively balance risk and reward and to be a strategic partner with clients to help them achieve their business objectives with an appropriate risk/reward balance.

• Active bar membership in good standing

Desired Qualifications:

• Meaningful experience with digital assets, stablecoins, blockchain and distributed ledger technologies, tokenized deposits, and other emerging financial infrastructure and digital payments initiatives.

• Credit support negotiation experience/background (i.e. negotiating security agreements, guaranties)

• Project management experience

• Ability and willingness to develop and propose constructive solutions, where warranted.

Skills:

• Advisory

• Influence

• Interpret Relevant Laws, Rules, and Regulations

• Policies, Procedures, and Guidelines

• Risk Management

• Critical Thinking

• Decision Making

• Issue Management

• Legal Drafting and Writing

• Regulatory Compliance

• Attention to Detail

• Collaboration

• Executive Presence

• Legal Structures and Legal Forms

• Problem Solving

Minimum Education Requirement: Doctorate degree in related field

Shift: 1st shift (United States of America)

Hours Per Week: 40

Pay Transparency details

US - DC - Washington - 1800 K St NW - 1800 K Street NW (DC1842), US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540), US - NY - New York - 114 W 47th St - 114 W 47th St - Ust (NY8114)

Pay and benefits information

Pay range

$175,000.00 - $259,700.00 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.