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Where Are They Now? BS&T's 2012 Elite 8, One Year Later

Core systems modernization, customer experience-related initiatives and supporting regulatory compliance are among the top priorities keeping BS&T's 2012 Elite 8 honorees busy since they were recognized a year ago. Here are updates on the challenges and projects that some of the executives have been tackling in the past year.
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Enhance Strengths, Reduce Complexity

Bill Pappas
CIO, Global Wholesale Banking Technology & Operations, Bank of America

Bill Pappas, a 2012 Elite 8 honoree, continues to oversee operations in 28 countries as Bank of America’s CIO of global wholesale banking technology and operations organization. In addition, he has assumed several other key responsibilities over the past year. Pappas now represents Bank of America on the board of the Federal Reserve’s Payments Risk Committee. He also serves as a member of the board for Apparo, a nonprofit dedicated to delivering technology systems and counsel for nonprofits. In addition, Pappas acts as co-sponsor of the bank’s partnership with the University of Virginia’s Darden School of Business and University of Michigan Ross School of Business. Pappas also supports Year Up, an organization that provides urban young adults with the skills, experience and support to help them reach their potential through professional careers and higher education.

Today, Pappas and his team are focused on several significant multiyear initiatives designed to enhance the bank’s existing capabilities, reduce complexity and continually improve the overall client experience. These include Wholesale Model Bank and Wholesale Credit Transformation.

According to Pappas, approximately 70% of Bank of America’s commercial and corporate clients are growing internationally and their businesses have become more complex. “In order to serve their needs, we are developing the next generation of truly global platforms designed to deliver consistency in products and services,” Pappas explains. The Wholesale Model Bank enhancements include one global DDA platform with real-time capability, local language capabilities, client and account integration and transparency, improved data consistency and reporting, and new rule-based product platforms.

Wholesale Credit Transformation is an investment that will ensure end-to-end process connectivity from underwriting to fulfillment, to service and monitoring, Pappas explains. “It provides our clients and investors with intuitive capabilities to manage processes that they prefer to own, and to automate core processes. Some examples of this include the improvement of our documentation process, which will reduce the amount of paperwork required by the client, as well as the implementation of e-signature, which will improve signature and return cycle times.”

Another ongoing focus area involves enhancements to CashPro, Bank of America’s portal for corporate and commercial banking clients, which provides them with access to a range of treasury management, investment, debt and trade services through one online portal. Enhancements are guided by an advisory council of corporate treasurers who use the product.

“Their feedback is invaluable and continually used to improve this cutting-edge cash management tool,” Pappas points out. Some recent CashPro enhancements include a more intuitive interface that businesses can tailor to their specific needs; more robust reporting options; improvements that make it easier for new clients to get started; the ability to make cross-border, low-value electronic fund transfers; check image services and Positive Pay account reconciliation services; and straight-through processing for timely payment delivery.

 

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio

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Byurcan
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Byurcan,
User Rank: Author
10/14/2013 | 12:36:51 PM
re: Where Are They Now? BS&T's 2012 Elite 8, One Year Later
From reading these snippets, it is clear to see that there is no "down period" for a bank CIO, the big projects never end, and something's always on the horizon.
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