Operational and Risk Controls

Strategy to reduce from three Controlled Disbursement Platforms to one. When NationsBank and Bank of America merged, there were three CD platforms supporting commercial clients from small business to global 100. As Product Management Executive, Kathleen led the effort to evaluate each platform for feature/functionality, identified client impacts to transitioning to a single platform and managed the vendor selection process for the ultimate solution. Kathleen executed the strategy which led to the transition of clients to the target solution. Communications to clients was a critical component to the transition so each understood how functionality changed and how to prepare for the transition. (Bank of America 2001)

Mitigated counter-party risk issues in 2008 financial collapse, reset daylight overdraft and ACH limits, and eliminated $9 billion in risk exposure. Led cross-functional team to design and implement overdraft monitoring system requirements now standard in the Corporate and Commercial Bank. Achieved zero Treasury Management losses in the collapse while modifying client behaviors and tailoring strategies to align with new risk paradigm. (Bank of America 2008-2009)

 Drove global expansion for Banknotes product resulting in 43% growth in 2011.   Two major competitors recently exited the Banknotes business due to Anti-Money Laundering (AML) issues. Conceived a strategy to capture market share. Navigated Risk and Compliance governance committees to alleviate concerns related to operational controls and AML monitoring procedures. Expanded relationships with five Regulators to gain commitment for global expansion strategy. Introduced enhancements to detect anomalies in client buying patterns and added multiple language capabilities for the web-based delivery channel. Instituted Global Operating Committee to monitor market risk and operational risk. Banknotes are the physical currency consumers carry in their wallets. Bank of America distributes $100 billion in Banknotes in 120 currencies to banks in 74 countries from 13 vaults around the world. (Bank of America 2009-2011)

Posted in Projects and Experience.