Counterparty Credit Risk Specialist
3 weeks ago
Description
:The Financial Market Utility (FMU) Risk Team is committed to responsibly managing the governance and risk oversight for all Bank of America’s FMU memberships and for monitoring compliance with laws, rules and regulations outlining the Bank’s responsibility for managing Risk to FMUs. FMUs are multilateral systems or infrastructures used for transferring, recording, clearing and settling payments, securities, derivatives and other financial transactions or instruments. Examples of FMUs include the Depository Trust Corporation (DTC) a Central Securities Depository and CLS Bank International, a Payment System.As a team, we oversee both the firm’s direct and indirect memberships to make sure risk is managed well across all lines of business and that risk events are addressed and escalated to senior management. FMUs are critical to the operation of global financial markets and Bank of America is highly dependent on FMUs to pursue its business strategy. As such, the candidate will join a dynamic team whose responsibilities are constantly evolving and aspiring to be best in class in managing FMU Risk.
Given the ever-evolving business environment, we are looking to welcome a high performing candidate to the team to enhance the FMU Risk framework while supporting delivery of BAU governance processes and risk oversight.
The FMU Risk team consists of motivated, detail oriented subject matter experts who are excited to welcome a new member to the team. We seek a candidate who is eager to learn, add value and grow in their career. The type of teammate that would thrive in this type of environment should:
Demonstrate a keen interest in financial markets and risk management
Have strong analytical and presentation skills using Microsoft Office suite
Strategically develop and foster communication across the organization
Be able to work independently as well as participating in a cross-functional team environment
Excel at working in a fast-paced environment and demonstrate an ability to navigate new systems and processes quickly
The team is responsible for a diverse body of work concentrated on effectively managing risk for all FMU relationships. As part of this team you will be responsible for:
Risk management oversight for a portfolio of direct/indirect FMU memberships, and coordinating holistic reviews of FMU due diligence
Working with global business partners to bring FMU related initiatives through Risk governance committees
Tracking and escalating risk issues, including operational outages, impacting FMU activities
Identifying and remediating FMU risk management gaps, and contributing to the remediation of existing Issues and Initiatives
Ensuring compliance with regulatory requirements around FMU risk management
Engaging and fostering a network of stakeholders across all major lines of business, such as Global Markets, Global Transaction Services, Corporate Treasury, working with control partners in Compliance & Operational Risk, Global Technology and Operations and Legal
Required Qualifications:
Strong oral and written communications skills to support periodic reporting requirements
Ability to collaborate with broad group of internal stakeholders
Ability to document decisions and maintain accurate records
Intellectual curiosity and willingness to challenge the status quo
Desired Qualifications:
Ability to interpret regulations and their applicability to the Bank
Experience managing Issues (regulatory, Audit or self-identified)
Familiarity with Monitoring, Surveillance, and Testing routines
Familiarity with internal systems for Compliance and Issues management
Shift:
1st shift (United States of America)Hours Per Week:
40-
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