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Global Markets Risk Manager

Bank of America

Bank of America

London, UK · United States · Remote
Posted on Monday, June 24, 2024

Job Description:

Job Title: Global Markets Risk Manager

Corporate Title: Up to VP

Location: London

Company Overview:

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!

Location Overview:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

The Team:

You will be supporting the Market Risk team to discharge its responsibility of review and inquire on the FRTB sensitivities produced by the Front Line.

Role Description:

This job is responsible for the reporting, evaluation, and monitoring applicable market related risks taken within a specific product area. Key responsibilities include evaluation of model risk, 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).

Responsibilities:

  • Raise awareness of FRTB risk measures across FRTB SA, DRC and SA-CVA
  • Assist with design and production of corresponding risk reports
  • Prepare for the weekly review and challenge of FRTB sensitivities based on FLU’s data quality analysis
  • Support Risk Managers and Front Line Unit in the monitoring of FRTB sensitivity limits
  • Engage with subject matter experts in Model Development, Model Validation, Capital Management and Front Line Units, to identify and appropriately escalate issues
  • Provide explanatory commentary to relevant stakeholders, and manage any ad-hoc risk queries from senior management and regulators.

What we are looking for:

  • Solid academic background, which may include a postgraduate qualification
  • Knowledge of financial markets, ideally with solid understanding of regulations, specifically FRTB
  • Highly proficient in Excel (models, pivots)
  • Excellent written and verbal communication skills
  • Ability to work in a high-energy and demanding environment, taking care of multiple things at one time

Skills that will help:

  • Previous experience with market risk regulation is highly desirable
  • Skills in VBA or scripting languages is desirable but not mandatory

Benefits of working at Bank of America:

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner

• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons

• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum

• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.

• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.

• Access to an Employee Assistance Program for confidential support and help for everyday matters

• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

Bank of America:

Good conduct and sound judgment is crucial to our long term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.