Global Markets Risk Manager

4 weeks ago

New York, New York, United States Bank of America Full time
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.).

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 remediation's 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 to cover Global Mortgages and Securitized Products trading desks. In addition to providing independent oversight of the market risks taken by structured products desks (ABS/CMBS/RMBS), the market risk manager will assess a broad spectrum of risks, 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.
  • Review trading portfolios and associated risk metrics. Report and monitor positions against market risk metrics and limits.
  • Liaise closely with the businesses to understand market trends in relation to portfolio changes.
  • Identify and analyze significant risks and summarize risk views for senior management to ensure they are kept informed of developments in the portfolio.
  • Analyze and model transactions, including cash flow modelling and idiosyncratic stress scenario generation
  • Review risks related to new products, structured deals and business strategies. Work with risk managers to raise challenges.
  • Perform stress tests to determine the circumstances under which the portfolio could incur material losses. Provide regular point of weakness and concentration risk analysis of the portfolio
  • Assist in ad-hoc risk related queries and projects; Specific risk analysis, reports and analysis for regulators.
  • Ensure risks are fed to and captured by the Bank's risk system and risk methodology. Assist the setup, configuration and implementation of new and upgraded risk management systems and upstream systems for risk to help enhance the firm's risk management capabilities.


Required Qualifications:
  • 5+ years of Market Risk or front office experience with a good understanding of key risk metrics such as VaR, Stress testing etc.
  • Good understanding of real estate and credit markets.
  • Proven finance or risk background with quantitative skills
  • Ability to build good relationships whilst maintaining independence, handle disputes, negotiate with traders and enforce difficult decisions.
  • Ability to communicate clearly and concisely with traders, senior management and other areas of the bank understanding the requirements of each group.
  • The candidate should have a good understanding of IT systems and their development process.
  • Ability to multi-task and prioritize, to meet deadlines without compromising on quality
  • Ability to understand and communicate more complex proposals for management review, requiring good oral and written skills
  • Excellent problem solving skills


Desired Qualifications:
  • Understanding of regulatory environment affecting Finance industry and the impact on market risk.
  • Experience working within Real Estate or Credit market risk
  • Motivation to deliver in challenging fast paced environment
  • Familiarity with Microsoft Excel essential, VBA and MS Access desirable.


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

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