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 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.).

Senior market risk manager leading the independent risk oversight of the Structured Products trading desk with additional responsibilities supporting regulatory deliverables and other risk management routines for the Global Credit line of business.

The Structured Products trading desk within Global Credit engages in structuring and distribution of collateralized loan obligations (CLOs) and providing credit asset based financing solutions for clients.  The desk is a market leader (#1 in Global CLO Combined League Table) and a major driver of both revenue and risk for Global Markets.

This role requires close interaction with the trading desk as well as other risk and support groups (e.g. Finance, Quants, Technology, Model Validation) and also entails direct dialog with senior leadership within risk on a regular basis.

Specific responsibilities include (but are not limited to):

Review desk’s risk profile and key risk management metrics (e.g. VaR, stress, sensitivities), proactively highlighting risk concerns for escalation to senior risk leaders

Directly challenging the FLU with respect to strategy, risk profile changes or new trading activity

Setting risk limits for the trading desk and proposing appropriate changes to the risk limit framework to enhance the firm’s risk management capabilities

Review new product or non-standard trade proposals, highlighting risks and making recommendations to senior management in terms of trade approval

Participate in due-diligence activities with respect to on-boarding of new CLO managers

Present directly to US regulators (e.g. SEC) as part of regular routines and regulatory exams

Provide updates to senior management within risk on key CLO market trends and outlook

Required Qualifications:

There is no unique background defining a successful Risk Manager. However, a quantitative mind, natural curiosity, a desire to challenge the status quo while searching for gaps and trying to see the big picture are key requirements. One or more of the following qualities would be beneficial:

5-7 years relevant experience

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

Strong quantitative and technical/programing skills

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

Skills:

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.