Corporate Title: Vice President
Location: Paris, France
Line of Business: Global Markets Risk
This is an opportunity for a highly motivated individual to join the EMEA Markets Risk team as a FICC Risk Manager working for BofASE SA, a new Bank of America entity located in Paris.
The successful candidate will be responsible for identifying, managing and communicating market risk exposures across EMEA and/or specific to BofASE SA. The role involves managing significant risk positions and performing quantitative and qualitative analysis. It also requires a thorough understanding of risk management practices in FICC markets and appreciation for financial products. The Market Risk Manager will work closely with the trading Desk and with various support partners (including Compliance, Middle Office, Operations, Technology or Finance) to enhance our overall risk management capabilities. Other core responsibilities include real-time monitoring and communication of the financial markets and understanding of market dynamics. The role is within the FICC Market Risk team with coverage across several asset classes in the region, with an additional focus on the risk management of the BofASE SA entity.
- Set risk limits in line with the entity’s risk appetite and strategy.
- Monitor positions against risk limits. Liaise closely with Front Office to detail risk exposures and challenge the business on limit breaches.
- Review new products and non-standard transactions proposed to ensure risks are appropriately controlled.
- Collaborate with other support partners to ensure all risks are identified and addressed - Operational, Credit, Liquidity etc.
- Identify and analyse all significant exposures across the entity, and ensure that senior management/risk committees are kept informed about the key risks.
- Define and evaluate stress scenarios under which the portfolio may incur material losses (point of weakness analysis). Contribute to reverse stress testing process.
- Assist in ad-hoc risk related queries, VaR analysis, drill downs or risk trends.
- Validate information that is distributed to the regulators.
- Develop deep knowledge of the Market Risk IMA methodology under current and future capital frameworks.
- Contribute to development of the wider team and help build a positive and inclusive work environment.
Knowledge / Experience:
- Degree in numerate subjects (e.g. engineering, maths, physics, economics etc.) or equivalent experience.
- Good knowledge of Credit products.
- Market Risk experience with FICC products (Credit flow, Special Situations, Structured Credit or Emerging Markets).
- Excellent mathematical skills.
- Proficient in Excel (VBA skills highly desirable).
- Able to build solid relationships whilst maintaining independence.
- Able to handle disputes, negotiate with traders and will not shirk from enforcing difficult decisions.
- Ability to work both as part of a team and independently with keen attention to detail.
- General knowledge of the risks and dynamics of credit markets.
- An effective team player
- Excellent problem solving skills
- Highly motivated with the drive and potential to learn from others
- Excellent communication skills
About Bank of America Merrill Lynch
Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses. The company has had a presence in EMEA since 1922. With offices in 19 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch’s responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.
If you‘re interested in this opportunity please send your details to us by applying online. Good conduct and sound judgement 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 mindset 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 gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.