Senior Manager of Global Market Risk
2 weeks ago
Location: New York, New York
Overview:
At Bank of America, our mission is to enhance financial well-being through meaningful connections. We are committed to Responsible Growth, which reflects our dedication to our clients, employees, communities, and shareholders.
We prioritize creating a diverse and inclusive environment for all our employees. Our investment in our team members and their families includes competitive benefits that support their overall well-being.
Joining Bank of America means embarking on a rewarding career filled with opportunities for professional development and the chance to make a significant impact.
Role Summary:
This position is pivotal in overseeing the management and strategic direction of market risk functions within designated product areas, both locally and globally.
Key responsibilities encompass ensuring compliance with market risk management policies, executing complex product approval processes, conducting model risk assessments, analyzing and reporting market risk, and collaborating with various internal teams including trading desks and support functions.
Key Responsibilities:
- Oversee the identification of market risk exposures and the development of mitigation strategies in alignment with the bank's risk appetite and regulatory standards.
- Manage risk requests and remediation efforts, providing effective challenges to front-line units.
- Develop and execute market risk coverage plans, including monitoring, testing, and reporting for specific products.
- Collaborate with business units to analyze market trends and their implications on portfolios, utilizing stress testing methodologies.
- Ensure compliance with established policies and procedures.
The Market Risk Manager will focus on FRTB deliverables across various Lines of Business (LoBs), including Global Credit, Mortgages, Rates, and Equities. Responsibilities include:
- Reviewing and validating FRTB sensitivities to ensure accuracy and completeness based on data quality analysis.
- Conducting stress testing at the trading desk level, identifying vulnerabilities and maintaining a 'key risks' inventory.
- Designing tailored scenarios for complex derivative desks to address specific risks.
- Enhancing risk reporting by recalculating individual stress scenario loss amounts on a daily basis.
Additionally, the role involves calibrating and monitoring FRTB sensitivity limits and metrics, contributing to the management of BAU risk positions, and performing both quantitative and qualitative analyses.
Essential Qualifications:
While there is no singular path to becoming a successful Risk Manager, key attributes include:
- A quantitative mindset with a natural curiosity and a willingness to challenge existing processes.
- Experience in risk management, particularly in collaboration with front-line teams.
- Strong analytical and technical skills, with a solid understanding of financial markets and macroeconomics.
- Excellent communication skills, both written and verbal, with the ability to engage diverse audiences.
- Ability to prioritize tasks effectively and manage multiple demands under tight deadlines.
- A collaborative team player with a proactive approach to problem-solving.
Skills Required:
- Analytical Thinking
- Critical Thinking
- Portfolio Analysis
- Risk Analytics
- Collaboration
- Decision Making
- Effective Communication
- Regulatory Compliance
Work Schedule:
1st shift (United States of America)
Bank of America is an equal opportunity employer. We consider all qualified candidates without regard to race, religion, gender, sexual orientation, age, national origin, or any other factor prohibited by law. We are committed to promoting a diverse and inclusive workplace.
Our policies ensure a drug-free and safe work environment for all employees.
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