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Global Markets Risk Manager

Bank of America

Bank of America

Charlotte, NC, USA · New York, NY, USA · United States · Remote
Posted on Wednesday, June 19, 2024

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.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

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.).

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 earnings risks, including the market/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.

The Interest Rate Risk and CFO Price Risk team under the Enterprise Financial Risk group is looking for a Market Risk Analyst to provide risk oversight and independent analysis on portfolios managed by the CFO group at Bank of America. This individual will also develop market risk analysis tools and must be proficient in Excel. The ideal candidate has a background in quantitative-based analytic techniques with direct experience in a variety of Capital Markets instruments. Experience with Asset and Liability Management strategies, Interest Rate Risk, and Liquidity Risk is also a positive. The candidate must demonstrate a combination of intellectual curiosity, quantitative skills, strategic and creative thinking, and strong written and oral communications skills.

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

Required Qualifications:

  • Background in Finance, Engineering or Computer Science

  • 1-2 years experience working with Traded Products, preferably Securitized Products

  • Familiarly with standard market risk measures such a VaR, SVaR, DV01, duration, etc.

  • Strong securities product knowledge and analytical/quantitative thinking

  • Ability to communicate effectively with senior stakeholders and independently lead initiatives.

  • Experience with Bloomberg, Python and SQL is a plus.

  • Background in Finance, Engineering or Computer Science

  • 1-2 years experience working with Traded Products, preferably Securitized Products

  • Familiarly with standard market risk measures such a VaR, SVaR, DV01, duration, etc.

  • Strong securities product knowledge and analytical/quantitative thinking

  • Ability to communicate effectively with senior stakeholders and independently lead initiatives

  • Experience with Bloomberg, Python and SQL is a plus

Skills:

  • Analytical Thinking

  • Critical Thinking

  • Portfolio Analysis

  • Risk Analytics

  • Data and Trend Analysis

  • Decision Making

  • Oral Communications

  • Presentation Skills

  • Written Communications

  • Active Listening

  • Issue Management

  • Monitoring, Surveillance, and Testing

  • Regulatory Compliance

  • Technical Documentation

Shift:

1st shift (United States of America)

Hours Per Week:

40