Enterprise Financial Risk (EFR) Overview

Enterprise Financial Risk (EFR) seeks to deliver effective independent risk management of the activities and processes associated with managing the Company's capital, liquidity and interest rate risks, including price risk in the CFO managed securities portfolio. As the Chief Risk Officer (CRO) function covering the Chief Financial Officer (CFO) Group, we also bring together a holistic point of view across all seven risk types for the Company's CFO.

The team helps Bank of America grow responsibly through developing our teammates, promoting a diverse and inclusive culture, and approaching our work with intellectual curiosity. EFR delivers its mission through a steadfast commitment to its values: cultivating diversity of thought and valuing different perspectives and experiences; promoting learning, fostering relationships and creativity; developing talent, advancing careers, and creating leaders within Global Risk Management and across the company. Our goal is to ensure that a healthy and sustainable liquidity, capital, and interest rate risk (IRR) profile is maintained through baseline economic scenarios, as well as during times of market and idiosyncratic stress.

EFR Team / Division: Financial Risk Analytics
The EFR Analytics team within EFR provides critical data driven analytical functions across liquidity, capital and market risks to the risk managers by offering advanced analytics, tools and solutions that enable us to form the independent point of view from the 2nd line of defense.

Job Description

The candidate will be responsible for understanding how material liquidity and interest rate risks are measured and monitored; assessing the impact of relevant risks by leveraging estimation methods; Support EFR risk manager challenge of CFO activities; drive independent assessment via advanced data analysis and quantitative approach; support integration of risk management through scenario analysis and metrics development. The candidate will also support the development of tools to facilitate liquidity and interest rate scenario design and independent review of liquidity stress testing results. This role requires a desire to learn, propensity to challenge existing processes and creativity in developing innovative solutions. Success in this role also requires knowledge of current events and trends, curiosity in exploring how such trends impact BAC's NII and liquidity profile, and synthesizing data and information to help stakeholders understand the earnings and liquidity implications.

Responsibilities
• Develop research and analysis techniques for a forward-looking view of financial risks in coordination with the EFR managers, including participating in 2nd line risk assessments and working groups with Treasury (to understand financial risk drivers)

• Establish independent analytic capabilities to help address MRIA, MRA and auditing issues effectively

• Partner with Treasury to develop ad hoc management scenarios + sensitivity analysis of liquidity, interest rate, and capital risks; including developing sensitivity tools and monitoring
• Analyze underlying drivers of financial risks through both actual and modelled stress flows of liquidity, capital, and NII. Consider alternative or improved models/assumptions. Analysis to support the 2nd line financial risk metrics and analysis of 1st line financial risk models

Key Requirements

• Minimum of 2-3 years of risk management, quantitative/qualitative modeling or other experience in the financial services industry
• Proficiency with analysis of financial data and quantitative techniques (linear/logistic regressions, time series, machine learning, hypothetical testing, etc.)
• Proficiency with programming (Python or R) and Excel
• Data skills e.g. data analysis, data transformation techniques, drilldown ability, what-if/sensitivity analysis, database knowledge a plus, Ability to extract, analyze, and merge data from disparate systems
• Strong analytical mindset and effective problem-solving skills
• Attention to detail and ability to work with minimal supervision
• Experience with data analytics and visualization tools (e.g., Tableau, Alteryx, MicroStrategy)
• Strong personal drive, individual initiative, a sense of urgency, and responsiveness, with a desire to grow, learn, and take on increasing levels of responsibility

Core Competencies

• Collaboration- Foster a positive work environment. Develops networks and builds alliances; collaborates across boundaries to build strategic relationships and achieve common goals.
• Resilience- Deals effectively with pressure; remains optimistic and persistent, even under adversity. Recovers quickly from setbacks. On occasion required to take an unpopular stand
• Interpersonal Skills- Treats others with courtesy, sensitivity, and respect. Considers and responds appropriately to the needs and feelings of different people in different situations and locations.
• Leveraging Diversity- Fosters an inclusive workplace where diversity and individual differences are valued and leveraged to achieve the vision and mission of the organization. Exposure and involvement with Employee Engagement initiatives including supporting Diversity & Inclusion efforts

Critical Success Measures and Skills the Candidate Will Develop

• Deliver against the book of work for Enterprise Financial Risk
• Contribute to appropriate monitoring and analysis that allow us to support high quality risk insights
• Connection to and execution of responsibilities of the independent risk function

Shift:
1st shift (United States of America)

Hours Per Week:
40

Pay Transparency details

US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540), US - NJ - Jersey City - 525 Washington Blvd (NJ2525), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$81,400.00 - $124,500.00 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.