Global Markets Risk Manager

2 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 analysis, monitoring and reporting applicable market related risks taken within Global Mortgages and Securitized Products. Key responsibilities include analysis and reporting of market risk, stress testing, designing limit frameworks and interfacing with the trading desk and other risk and support groups (i.e., Compliance, Finance, Operations, etc.).

This position is in the Market Risk Management team covering 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.

Responsibilities:
  • Review trading portfolios and associated risk metrics. Report and monitor positions against market risk metrics and limits.
  • Liaise closely with trading desks 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 and challenge risks related to new products, structured deals and business strategies.
  • 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 appropriately by the Bank's risk system and risk methodology. Assist the setup, configuration and implementation of new and upgraded risk management systems to help enhance the firm's capabilities.


Required Qualifications:
  • 5+ years of Market Risk or front office experience with a good understanding of key risk metrics such as VaR and stress testing, especially in relation to securitized products
  • Good understanding of real estate and credit markets
  • Proven finance or risk background with quantitative skills
  • Ability to communicate clearly and concisely with traders, senior management and other areas of the bank understanding the requirements of each group.
  • Ability to build good relationships while maintaining independence and negotiating with traders to enforce decisions.
  • 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
  • Problem solving skills and Motivation to deliver in challenging fast paced environment


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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