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Global Markets Risk Sr 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 local and/or global management and direction of applicable market related risk management functions within a specific product area. Key responsibilities include monitoring and adhering to market risk management policies, procedures, and standards, and implementing new/complex product approval processes, 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:

  • Provides oversight of identification of market risk exposures and mitigation strategies and resolutions in accordance with the bank's risk appetite and risk limits identified, as well as regulatory requirements, as applicable

  • Provides oversight of risk requests, breach remediations and providing risk effective challenges for front line units

  • Oversees development of market risk coverage plans, execution of monitoring, testing and risk assessments, and market risk reporting for specific products

  • 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

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 within Global Risk Management is looking for a senior risk lead responsible for independent risk oversight the firm’s investment activities. The Interest Rate Risk and CFO Price Risk team is responsible for oversight of the measurement and management of Interest Rate Risk (IRR) for the company as well as Market Risk oversight for hedging activities managed within the CFO Organization. This role will primarily focus on the activities done to manage the firm’s overall Interest Rate Risk position including both fixed income security investments and derivative activity. Through this role, the candidate will need to both evaluate expected impacts to our company’s overall Interest Rate Risk profile as well as potential risks to other key metrics including capital, liquidity, and credit risk.

Required Qualifications:
• Background in Finance, Engineering or Computer Science
• 5-7 year’s experience working with Traded Products, preferably Agency and Non-Agency Securitized Products and Interest Rate Derivatives
• Familiarity with industry standard Interest Rate Risk measures such as Earnings at Risk (EaR) and Economic Value of Equity (EVE)
• Understanding of implications associated with security and derivative accounting elections.
• Experience with Bloomberg, Python and SQL is a plus.
• Ability to communicate effectively with senior stakeholders and independently lead initiatives.

Skills:

  • Analytical Thinking

  • Critical Thinking

  • Portfolio Analysis

  • Risk Analytics

  • Collaboration

  • Decision Making

  • Oral Communications

  • Presentation Skills

  • Written Communications

  • Issue Management

  • Monitoring, Surveillance, and Testing

  • Regulatory Compliance

  • Technical Documentation

  • Trading Strategy

Shift:

1st shift (United States of America)

Hours Per Week:

40