• Job Description

  Req#: 25015851

  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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

  Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

  Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

  At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

  Job Description:
  This job is responsible for the local and/or global management and direction of applicable market related risk management functions within a specific product area. Key responsibilities include monitoring and adhering to market risk management policies, procedures, and standards, and implementing new/complex product approval processes, 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.).

  This position is in the Market Risk team for a risk manager to cover the GFX&LCT trading desk. In addition to providing independent oversight of the market risks taken by the business, the market risk manager will assess a broad spectrum of risks for the desk, 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.
  
  Specific responsibilities include:

  • Review market risk positions, particularly under potential risk scenarios, and raise challenges to the desk if necessary. Liaise closely with the businesses to understand market trends and to report exposure under different market conditions.

  • Propose to senior management appropriate market risk limits for the trading desk within the firm's risk appetite.

  • Help enhance the firm's risk management capabilities.

  • Review risks related to non-standard or structured trades and new products. Liaise closely with the business and other support functions to determine the nature and size of risks and ensure they are within the firm’s risk appetite.

  • Provide detailed explanations of the market risk of the desk, both internally to senior management and the trading desk, and externally to the Bank's regulators.

  Required Qualifications:

  • Solid academic background, which may include a postgraduate qualification

  • Good people skills demonstrated across various communication styles (both written and verbal)

  • Knowledge of financial markets, ideally with solid understanding of Macroeconomics

  • Understanding of financial derivatives and modelling

  • Ability to multi-task and prioritize across several competing demands, meeting tight deadlines

  • Previous experience as a Risk Manager working directly with the Front Line and performing risk analysis is desirable

  
  Skills:

  • Effective team player

  • Intellectual curiosity

  • Excellent problem-solving skills

  • Highly motivated with the drive and potential to learn from others

  • Analytical Thinking

  • Critical Thinking

  • Portfolio Analysis

  • Risk Analytics

  • Collaboration

  • Decision Making

  • Oral Communications

  • Presentation Skills

  • Written Communications

  • Issue Management

  • Monitoring, Surveillance, and Testing

  • Regulatory Compliance

  • Technical Documentation

  • Trading Strategy

  Shift:

  1st shift (United States of America)

  Hours Per Week:

  40

  Pay Transparency details

  US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

  Pay and benefits information

  Pay range

  $138,000.00 - $215,500.00 annualized salary, offers to be determined based on experience, education and skill set.

  Discretionary incentive eligible

  This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

  Benefits

  This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

• About the company

  Bank of America is one of the world's largest financial institutions, serving individuals, 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.

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