Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
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Job Description:
This job is responsible for the reporting, analysis, and monitoring applicable market related risks taken within a specific product area. Key responsibilities include analysis of model risk, analysis and reporting of market risk, distributing the market risk reports, and interfacing with the trading desk and other risk and support groups (i.e., Compliance, Finance, Operations, etc.).
Responsibilities:
- Identifies and monitors market risk exposure and develops mitigation strategies and resolutions in accordance with the bank's risk appetite and risk limits identified, as well as regulatory requirements, as applicable
- Manages risk requests, breach remediations and providing risk effective challenges for front line units
- Sets managing risk parameters and guardrails for market risk, while ensuring adherence to risk appetite and limits, and actively designing risk scenarios to implement decisions
- Develops market risk coverage plans, oversees execution of monitoring, testing and risk assessments, conducts analysis and develops market risk reporting for specific products and communicates changes to senior management
- Liaisons with businesses to understand market trends and impacts on portfolio, using knowledge of stress testing and its applicability to market risk
- Ensures adherence to the policies and procedures established by the company
This position is in the Market Risk Management team for a risk manager within the Rates and Counterparty Portfolio Management team. In addition to providing independent oversight of the market risks taken by the business, the market risk manager will assess a broad spectrum of risks for the desk, liaising with other risk functions as necessary, including operational, credit, and counterparty risks. This role requires close interaction with the trading desk and other risk and support groups (i.e. Finance, Quants, Technology, etc.). Product knowledge and quantitative skills are necessary.
Requirements:
• Solid academic background, which may include a postgraduate qualification
• Good people skills demonstrated across various communication styles (both written and verbal)
• Knowledge of financial markets, ideally with solid understanding of Macroeconomics
• Understanding of financial derivatives and modelling
• Ability to multi-task and prioritize across several competing demands, meeting tight deadlines
• Previous experience as a Risk Manager working directly with the Front Line and performing risk analysis is desirable
Key Skills
• Effective team player
• Intellectual curiosity
• Excellent problem-solving skills
• Highly motivated with the drive and potential to learn from others
Shift:
1st shift (United States of America)
Hours Per Week:
40