Job Title: Market Risk Manager – Traded Credit
Line of Business: Global Risk / FICC Markets Risk
Corporate Title: Assistant Vice President or Vice President
Location: London, UK
The work of a Market Risk Manager is a blend of technical understanding of financial products, real-time monitoring of financial markets, and quantitative data analysis/modelling. It requires a variety of communication skills used to report on risk positions in order to influence risk takers and inform key stakeholders.
The successful candidate will be responsible for identifying, managing and communicating market risk exposures. The role involves managing significant risk positions and performing quantitative and qualitative analysis. It also requires a thorough understanding of risk management practices and appreciation for financial products. The role requires understanding the business activity on a trading desk and undertaking risk reporting across a range of audiences ranging from individual traders, through to senior management and regulators. Risk analysis is one half of the job, performed using the firm’s systems as well as via ad-hoc methods. Communication is the other half of the job, describing the analysis conducted in a variety of ways, some standard, and some ad-hoc.
The associate will be responsible for identifying risks within the portfolio and performing ongoing quantitative and qualitative trading analysis. He or she should be able to confidently work with the trading desk, as well as with senior partners in other Risk functions, Regulatory Capital, Independent Price-Testing, Finance, Model Risk, Technology, Middle Office and Research in order to enhance our overall risk management infrastructure, capabilities and governance.
Identify and analyse all significant risks for the Credit line of businesses and ensure Senior Management are kept informed.
Work with the business and other support functions to assess the risks and ensure they are within the firm’s risk appetite.
Identify risk concentration under which the business could incur material losses.
Validate and produce information that is distributed to the regulators.
Assist in ad-hoc risk related queries, drill down analysis, VaR/stress analysis or risk trends.
Contribute to the development of the Market Risk team and to the positive working environment.
Represent the Market Risk function in cross functional projects.
Skills / Knowledge:
Degree in numerate subjects (e.g. engineering, maths, physics, economics).
Market Risk management experience at a top financial institution is desired.
Experience with credit trading across the credit spectrum from investment grade to distressed including structured products.
An understanding of market risk metrics, credit, the Greeks, VaR and stress scenarios.
An understanding of fixed-income markets, asset classes and products (structures, valuations, risk metrics, correlations, etc.).
Proficient in Excel (VBA skills are desirable) and database management.
Keen interest in Risk Management.
Effective team player.
Excellent problem solving skills.
Highly motivated with the drive and potential to learn from others.
Bank of America
Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.
In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.
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 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 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.
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.
As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.
Learn more about this role
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