DeVry University – Keller Graduate School of Management
MGMT591 – Leadership and Organizational Behavior
Professor Michelle Branner
May 15, 2013
Overview of Organization
The organization that will be the topic of discussion for my final project paper is Bank of America Corporation. Bank of America Corporate is a multinational banking and financial services corporation headquartered in Charlotte, North Carolina. Bank of America consist of eight Lines of Business that operates the entire company with over 300,000-employee population across their global footprint. The Lines of Business Bank of America has operations in more than 40 countries across the globe – Europe and the Middle East and Africa (EMEA), Asia Pacific (AsiaPac), United States, Canada and Latin America. Bank of America Corporation provides people, companies and investors the financial products and services they need to achieve their dreams in their financial lives. The eight Lines of Business that Bank of America operates as are: Global Consumer & Small Business Banking, Global Banking & Markets, Global Commercial Banking, Global Wealth & Investment Management, Financial Advisors, Global Technology & Operations, Corporate Staff & Support and Mortgage.
Bank of America planned to eliminate approximately 30,000 jobs by the end of 2013, largely in consumer and technology areas as company-wide cost-cutting initiative due to declining revenues. The decline in revenues was caused by the 2010 mortgage related losses. With the news of job cuts across the company, the employees are uneasy due to the instability of their position. Bank of America continues to work diligently to maintain employee satisfaction, however is losing the battle because the majority of its employees are feeling insecurities about the their jobs. * I am a Senior Operations Manager responsible for employee engagement for the San Francisco Check Processing department, under the Global Technology and Operations organization. I have the responsibility for employee engagement to sustain and increase employee job satisfaction. Check Processing is a department that performs encodes and endorses checks and deposits. The department processes about 1.5 million transactions per day from the various Banking Centers, ATM and Night Drop locations across Northern California. The employee population of 250 and typical work schedule is swing shift (4:00pm – 1:00am). The employees are referred to as Proof Operators. All proof worked received for the day must be completed by midnight in order for the transaction to post the customer’s account. The Proof Operators has to sustain a specific productivity level in order to achieve the service level agreement. Maintaining the specific productivity level is very crucial to the success of the department and the company’s overall company’s performance. With the recent announcement from the CEO, we received direction from our senior executive that we would