hero






VP-Sr Operations Manager

Bank of America

Bank of America

Operations
Mumbai, Maharashtra, India · Hyderabad, Telangana, India · India · Hyderabad, Telangana, India · United States · Remote
Posted on Friday, August 16, 2024

Job Description:

About Us

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!

Global Business Services

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.

Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.

In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.

Process Overview

Market Risk management serves as independent risk oversight of the Firm’s trading activities across the various trading desks and trading portfolios. The Global Market Risk Management team within Market Risk is responsible for the implementation and management of cross-product processes and analysis to support the Global Markets business and senior Risk management.

Job Description

The team in India will support a broad set up of work in conjunction with employees located in Europe and the US. The team is seeking a highly motivated individual to join the Stress Testing Analysis team. The candidate will support both ongoing routine activities and initiative work in the reporting work-stream. This includes supporting the end-to-end weekly/quarterly stress testing process, fielding ad-hoc questions from senior leaders and regulators, and developing and enhancing new and existing reports/reporting functionality. The role focuses on supporting CCAR and full-reval stress test work and acting as a subject matter expert in assigned line of business(es). The role is ideal for a collaborative individual who likes being challenged, is able to quickly adapt to change, and has a keen eye for detail.

Responsibilities

  • Perform risk analysis, quality controls and sign-off for CCAR and weekly full-reval SFRC results.
  • Managing several critical reporting and governance routines for stakeholders such as external regulators and internal risk managers.
  • Liaising closely with the business and other support functions to ensure risks are within firm’s risk appetite and correctly captured.
  • Interface with stakeholders like IT/Risk Managers/Methodology team, and document processes and procedures.
  • Identify risk concentration and determine the circumstances under which the business portfolio could incur material losses.
  • Develop new reports and analyses to support accurate stress testing results.
  • Maintain a strong and robust control environment for all processes
  • Assist in the setup, configuration and implementation of new and upgraded risk management systems.
  • Validate and produce information that is distributed to the relevant regulators.
  • Assist in ad-hoc risk related queries, drill down analysis, specific risk analysis, risk trend analysis, reports and analysis for regulators.
  • Optimize and work with Tech to lead automation efforts.
  • Represent the market risk stress testing function in cross function projects – migration and larger scale system changes.

Requirements

Education

  • MBA from top tier college, Bachelors/Masters/Ph.D. degree in Finance Statistics and/or Mathematics and/or Financial Mathematics and/or Economics, Physics etc
  • Top tier – IITs, NITs, Indian Statistical Institutes etc.

Certifications If Any

  • CFA or FRM preferred

Experience Range

  • 12+ years of relevant experience in financial services

Foundational skills

  • Experience in a stress testing / market risk related field with a strong focus in Risk Management of any asset class.
  • Intellectually curious with the ability to investigate and develop root cause analysis for portfolio changes
  • Experience working with large data sets
  • High level of proficiency with Microsoft Excel
  • Ability to work in a fast-paced environment
  • Adept at communication with ability to influence co-workers across our global team and all levels of the organization including escalation of issues
  • Ability to aggregate and synthesize complex data from multiple sources
  • High level of attention to detail in conjunction a very high level of numeracy skills

Desired skills

  • Experience with Python or other similar languages
  • Effective time management skills, with the ability to manage multiple high priority deliverables simultaneously
  • Experience and understanding of common market risk metrics like Value at Risk (VaR)
  • Experience with regulatory reporting, regulatory exams, and/or audit

Work Timings

12 Noon to 9 pm IST

Job Location

Gurugram, Hyderabad & Mumbai