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Global Markets Risk Analyst

Jersey City, New Jersey;

Job Description:

As a member of the Global Markets and Financial Risk (GMFR) division, the Market Risk Indirect Coverage Area (ICA) is risk management function that oversees Bank of America's compliance with Market Risk Laws, Rules, Regulations and Guidance (LRRGs). Risk LRRGs compliance is not directly covered by the Bank's Global Compliance and Operational Risk division, given the risk expertise required to assess compliance (hence called ICA). A successful candidate will join a team of Market Risk LRRG Compliance and Controls experts, whose responsibilities include:
- Maintenance of the inventory of Laws, Rules, Regulations and Guidelines (LRRGs) related to Market Risk management, across jurisdictions
- Partner with the functions that perform the LRRG Requirements (Market Risk Managers, Model Risk Developers, Front Line Units etc.) to understand the Process and Controls
- Execute the defined testing program to assess and document the status of compliance with LRRGs
- Regular review and update of test scripts to ensure relevance and efficacy
- Inform Senior Management at Enterprise level and across the regions, about the state of compliance self-assessment on a regular basis
- Respond to Compliance Self-Assessment related queries from Regulators during exams
- Collaborate with Global Compliance and Operational Risk (GCOR) on firmwide compliance program
- Collaborate with Line of Business (LOB) Market Risk Managers to facilitate ongoing compliance with LRRGs in Business As Usual (BAU) processes

Successful candidate will be an Individual Contributor, whose regular responsibilities will include (but not limited to),
- Proactive monitoring of LRRGs and Consultation Processes initiated by regulators across relevant jurisdictions, to update the LRRG Inventory
- Assess the results of the tests performed by the Enterprise Independent Testing group
- Execution of test scripts to assess and document the compliance status on a quarterly basis
- Contribute to the periodic reports and memorandums used to report Compliance Status to Senior Management
- Participate in team's efforts towards monitoring status of compliance with LRRGs related to Market Risk Management and Market Risk Capital Requirements calculations in Americas, Europe Middle East and Africa (EMEA) and Asia Pacific (APAC) regions
- Continuous process improvements

Required Job Skills:
- Understanding of basic concepts related to Market Risk such as Market Risk measures (e.g., VaR, Stress Impacts, Sensitivities), Limits Management, Stress Testing and Scenario Analysis
- Familiarity with Basel 2.5, Basel 3 and Fundamental Review of Trading Book (FRTB) guidelines issued by Basel Committee for Banking Supervision (BCBS)
- Understanding of Market Risk Regulations and Guidelines in at least one of the jurisdictions in Americas, EMEA or APAC
- Ability to draft and execute test scripts to assess the design and effectiveness of controls and processes in the firm relevant to Market Risk regulations
- Excellent documentation skills and ability to draft reports and memos on regulatory compliance
- Clear and concise verbal communication skills, to engage with stakeholders across regions and teams in Global Risk LOB
- Key traits including ability to multi-task, affinity towards team working, focus on deliverables, flexibility to reskill/redeploy as per firm's requirements and clarity in professional development expectations
Desired job skills:
- Expertise in use of applications in Microsoft Office including Microsoft Excel, VBA coding
- Ability to draft process flow charts

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

As a member of the Global Markets and Financial Risk (GMFR) division, the Market Risk Indirect Coverage Area (ICA) is risk management function that oversees Bank of America's compliance with Market Risk Laws, Rules, Regulations and Guidance (LRRGs). Risk LRRGs compliance is not directly covered by the Bank's Global Compliance and Operational Risk division, given the risk expertise required to assess compliance (hence called ICA). A successful candidate will join a team of Market Risk LRRG Compliance and Controls experts, whose responsibilities include:
- Maintenance of the inventory of Laws, Rules, Regulations and Guidelines (LRRGs) related to Market Risk management, across jurisdictions
- Partner with the functions that perform the LRRG Requirements (Market Risk Managers, Model Risk Developers, Front Line Units etc.) to understand the Process and Controls
- Execute the defined testing program to assess and document the status of compliance with LRRGs
- Regular review and update of test scripts to ensure relevance and efficacy
- Inform Senior Management at Enterprise level and across the regions, about the state of compliance self-assessment on a regular basis
- Respond to Compliance Self-Assessment related queries from Regulators during exams
- Collaborate with Global Compliance and Operational Risk (GCOR) on firmwide compliance program
- Collaborate with Line of Business (LOB) Market Risk Managers to facilitate ongoing compliance with LRRGs in Business As Usual (BAU) processes

Successful candidate will be an Individual Contributor, whose regular responsibilities will include (but not limited to),
- Proactive monitoring of LRRGs and Consultation Processes initiated by regulators across relevant jurisdictions, to update the LRRG Inventory
- Assess the results of the tests performed by the Enterprise Independent Testing group
- Execution of test scripts to assess and document the compliance status on a quarterly basis
- Contribute to the periodic reports and memorandums used to report Compliance Status to Senior Management
- Participate in team's efforts towards monitoring status of compliance with LRRGs related to Market Risk Management and Market Risk Capital Requirements calculations in Americas, Europe Middle East and Africa (EMEA) and Asia Pacific (APAC) regions
- Continuous process improvements

Required Job Skills:
- Understanding of basic concepts related to Market Risk such as Market Risk measures (e.g., VaR, Stress Impacts, Sensitivities), Limits Management, Stress Testing and Scenario Analysis
- Familiarity with Basel 2.5, Basel 3 and Fundamental Review of Trading Book (FRTB) guidelines issued by Basel Committee for Banking Supervision (BCBS)
- Understanding of Market Risk Regulations and Guidelines in at least one of the jurisdictions in Americas, EMEA or APAC
- Ability to draft and execute test scripts to assess the design and effectiveness of controls and processes in the firm relevant to Market Risk regulations
- Excellent documentation skills and ability to draft reports and memos on regulatory compliance
- Clear and concise verbal communication skills, to engage with stakeholders across regions and teams in Global Risk LOB
- Key traits including ability to multi-task, affinity towards team working, focus on deliverables, flexibility to reskill/redeploy as per firm's requirements and clarity in professional development expectations
Desired job skills:
- Expertise in use of applications in Microsoft Office including Microsoft Excel, VBA coding
- Ability to draft process flow charts

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21043548

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Taylor Pitre

Referral Bonus:

0