Job Description:

Overview

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.

We are a part of the Global Business Services which delivers technology and operations capabilities to Bank of America lines of business (LOB) and enterprise functions.

Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses, and institutional investors we serve worldwide.

* BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview*

Market Risk management serves as independent risk oversight of the Firm’s trading activities across the various trading desks and trading portfolios. The Global Market Risk Portfolio Analysis team within Market Risk is responsible for the implementation and management of cross-product processes and analysis to support the Global Markets business and senior Risk management.

Job Description*

Working closely with the Risk Methodology, Line of Business Risk Managers and Technology teams, the candidate will provide support for the production of market risk and counterparty risk models. With a good working knowledge of market risk infrastructure, data flows and market risk and counterparty risk models, the candidate will be expected to play a significant role in the process design and risk system requirements, ensuring the completeness and accuracy of all market risk models.

The candidate will liaise with Line of Business Risk Managers to provide quantitative risk implications of regulatory changes, new product development etc. and enhance market risk models to reflect changes in the business environment. The role requires a flexible approach that can deal with problems that require pragmatic solutions and innovative thinking.

The candidate is expected to proactively monitor and remediate any market risk and counterparty risk issues that is used in production risk measurement and reporting. Ensure the completeness, validity, and accuracy of on a regular basis. Work with business data users to define the use of data within various risk systems. Work closely with technology to ensure the timely and accurate data processing and test, implement and roll out effective processes and system controls. Work with other groups as needed, including Counterparty Reporting, Enterprise Stress Testing and various Technology groups to ensure effective controls over market data for GBAM.

A good understanding of the key risk drivers at product, business and firm-wide levels is required. The ability to communicate to Line of Business Risk Managers potential risks is required.

Responsibilities*

• At least two year’s work experience in finance with a strong preference for candidates with a Market Risk or Counterparty Risk background.
• A thorough understanding of Market Risk or Counterparty Risk models including Value at Risk, Stress Test models related economic capital regulations is required.
• A demonstrated track record in process execution, process control and process re-engineering in the market Market Risk or Counterparty Risk realms is required.
• A detailed understanding of the mathematical principles underlying these risk models and how these principles are implemented and controlled in large scale risk systems is highly desirable.
• A broad knowledge of equity and fixed income financial products including, FX, interest rate and credit products.
• Advanced desktop technology skills such as Excel and PowerPoint is a must.
• Experience in quantitative computer programming (VBA, SQL, Python) a plus.
• Excellent verbal and written communication skills, including well-developed presentation skills.
• Maintain and develop documentation on processes where needed

Requirements*

Education*

• Bachelor’s or Master’s Degree in a quantitative discipline is required.

Certifications If Any

• CFA, FRM etc. will be an added advantage.

Experience Range*

• 2 – 7 years

Foundational skills*

• Experience in a trading / market risk related field
• Intellectually curious with the ability to investigate and develop root cause analysis for portfolio changes.
• Experience working with large data sets
• Experience with Python or other similar languages
• High level of proficiency with Microsoft Excel
• Adept at communication with ability to influence co-workers across our global team and all levels of the organization including escalation of issues
• Ability to aggregate and synthesize complex data from multiple sources
• High level of attention to detail

Desired skills*

• Effective time management skills, with the ability to manage multiple high priority deliverables simultaneously.
• Experience and understanding of common market risk metrics like Value at Risk (VaR)
• Experience with regulatory reporting, regulatory exams, and/or audit

Work Timings*

• 12 Noon to 9 pm IST

Job Location*

• Mumbai and Hyderabad