Benefits Vendor Governance Manager

Job Title: Benefits Vendor Governance Manager

Corporate Title: Up to Senior Vice President

Location: London

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 the coordination and governance of benefits‑related vendor activity, with a specific focus on procurement engagement, contract lifecycle management, and Global Information Security (GIS) coordination.

The role supports the effective operation of the Benefits Third‑Party Engagement model by ensuring benefits vendors are appropriately contracted, risk‑assessed, documented, and managed in line with internal policies, third‑party requirements, and governance frameworks.

Key Responsibilities

Vendor Management & Third‑Party Governance

• Coordinate oversight of the benefits vendor portfolio, including insurers, administrators, and third‑party service providers.
• Support Benefits Third‑Party Engagement Managers (TPEMs) in meeting their responsibilities under the Third‑Party Program.
• Maintain accurate and complete vendor inventories, records, and documentation for benefits vendors.
• Monitor vendor‑related risks, issues, and service concerns and escalate through agreed governance routes.

Procurement & Contract Lifecycle Coordination

• Act as the primary Benefits coordination point with Procurement COE and local Procurement teams.
• Support benefits vendor activity including onboarding, renewals, amendments, and exits.
• Track and coordinate contract execution, ensuring contracts are current, correctly executed, and aligned to approved scopes of service.
• Support compliance with procurement processes, timelines, and documentation requirements.

GIS & Information Security Coordination

• Coordinate Global Information Security (GIS) activities relating to benefits vendors.
• Support completion of vendor security and technology risk assessments, including data exchange classification.
• Track and coordinate remediation actions arising from GIS or Third‑Party assessments.

Controls, Risk & Process Management

• Support the implementation and ongoing operation of standard operating procedures, frameworks, and controls relating to benefits vendor management.
• Contribute to risk assessments, monitoring, audits, and regulatory responses relating to benefits vendors.
• Identify opportunities to improve process efficiency, consistency, and control effectiveness.

Stakeholder Management

• Maintain effective working relationships with:
  • Benefits Design & Governance teams
  • HRGs and regional / country stakeholders
  • Procurement
  • GIS and Third‑Party Risk teams
• Provide clear guidance to stakeholders on benefits vendor governance processes.

Knowledge, Skills & Experience

Essential

• Experience in vendor management, procurement coordination, governance, or operational risk, preferably within HR, Benefits, or a regulated environment.
• Understanding of contract lifecycle management and third‑party governance processes.
• Experience working in a matrix organisation with multiple stakeholders.
• Strong organisational skills, attention to detail, and risk awareness.

Desirable

• Experience working within a Third‑Party Engagement / TPEM framework.
• Exposure to information security or technology risk coordination.
• Experience supporting regional or global Benefits programmes.

Benefits of working at Bank of America:

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum
• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
• Access to the Peppy App which provides 1:1 support, consultations and resources relating to men’s health, women’s health, fertility, menopause and pregnancy & parenthood
• Access to a range of gyms, exercise classes and wellbeing Apps through Wellhub, including Headspace and Calm
• Access to an Employee Assistance Program for confidential support and help for everyday matters
• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America:

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements