girl looking into her desktop
Back to search results

VP, Counterparty Credit Risk Specialist, London

London, , United Kingdom

Job Description:

Wholesale Credit delivers and manages the credit relationship for wholesale clients in accordance with Bank of America’s growth strategy, risk appetite and underwriting standards. While we are an independent function, we work closely with product specialists, relationship managers and the risk function. Wholesale Credit is responsible for analysing and underwriting debt financing solutions and derivative strategies for Global Banking & Markets.

Hedge Fund Credit role within Global Markets Credit responsible for managing the counterparty risk on a portfolio of EMEA-based hedge funds.  Responsibilities include:

  • Managing a portfolio of EMEA based hedge fund clients from on-boarding through to underwriting/credit approval and ongoing risk management.

  • Detailed written analysis of hedge fund clients demonstrating a good understanding of investment strategies, liquidity, leverage and volatility.

  • Perform qualitative and quantitative credit assessment of clients and their trading exposure including stress and sensitivity analysis.

  • Lead credit due diligence calls with hedge fund clients.

  • Propose risk-based limits based on assigned internal counterparty rating.

  • Approval of daily trade flow including the calculation and application of Initial Margin

  • Liaise with Legal to initiate documentation for trading activity including the specification of credit terms as required.

  • Timely identification and escalation of limit overages, margin disputes and missed calls, monthly NAV trigger breaches, escalation threshold breaches and ad-hoc report management, escalating any counterparties/issues of concern as necessary.

  • Conduct ad-hoc portfolio reviews and prepare management information as required

  • Recurring engagement with Sales & Trading executives, Agreements & Documentation (A&D) partners, Collateral Management & Operations, Prime Brokerage Risk, Enterprise and Market Risk Management.

The Team

  • Global Markets Credit is a team of 100+

  • Responsible for underwriting Structured Financing Transactions, Non-Recourse Lending to SPVs, Specialty Finance, Hedge Funds and Regulated Funds (Real-Money Accounts), Central Counterparties (CCPs), and Municipal Banking and Markets

  • Hedge Fund Credit (19), split 60%/25%/15%, US, EMEA, APAC respectively

Core skills - Required and Preferred

  • Prior experience in a hedge fund counterparty credit risk role

  • Strong knowledge of hedge funds, their strategies and associated risks

  • A good understanding of Global Markets and derivative products/documentation

  • Ability to manage significant deal flow often to tight deadlines in a dynamic and fast-paced environment

  • Confident self-starter with strong communication skills and an ability to negotiate effectively

  • Problem solver, ability to manage issues in a timely manner

  • Good quantitative and Excel based skills required

  • Bloomberg experience advantageous

  • Candidate should be a strong team player, willing to support more junior members of the team as required.  

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.

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 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.

Job Band:

H5

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Wholesale Credit delivers and manages the credit relationship for wholesale clients in accordance with Bank of America’s growth strategy, risk appetite and underwriting standards. While we are an independent function, we work closely with product specialists, relationship managers and the risk function. Wholesale Credit is responsible for analysing and underwriting debt financing solutions and derivative strategies for Global Banking & Markets.

Hedge Fund Credit role within Global Markets Credit responsible for managing the counterparty risk on a portfolio of EMEA-based hedge funds.  Responsibilities include:

  • Managing a portfolio of EMEA based hedge fund clients from on-boarding through to underwriting/credit approval and ongoing risk management.

  • Detailed written analysis of hedge fund clients demonstrating a good understanding of investment strategies, liquidity, leverage and volatility.

  • Perform qualitative and quantitative credit assessment of clients and their trading exposure including stress and sensitivity analysis.

  • Lead credit due diligence calls with hedge fund clients.

  • Propose risk-based limits based on assigned internal counterparty rating.

  • Approval of daily trade flow including the calculation and application of Initial Margin

  • Liaise with Legal to initiate documentation for trading activity including the specification of credit terms as required.

  • Timely identification and escalation of limit overages, margin disputes and missed calls, monthly NAV trigger breaches, escalation threshold breaches and ad-hoc report management, escalating any counterparties/issues of concern as necessary.

  • Conduct ad-hoc portfolio reviews and prepare management information as required

  • Recurring engagement with Sales & Trading executives, Agreements & Documentation (A&D) partners, Collateral Management & Operations, Prime Brokerage Risk, Enterprise and Market Risk Management.

The Team

  • Global Markets Credit is a team of 100+

  • Responsible for underwriting Structured Financing Transactions, Non-Recourse Lending to SPVs, Specialty Finance, Hedge Funds and Regulated Funds (Real-Money Accounts), Central Counterparties (CCPs), and Municipal Banking and Markets

  • Hedge Fund Credit (19), split 60%/25%/15%, US, EMEA, APAC respectively

Core skills - Required and Preferred

  • Prior experience in a hedge fund counterparty credit risk role

  • Strong knowledge of hedge funds, their strategies and associated risks

  • A good understanding of Global Markets and derivative products/documentation

  • Ability to manage significant deal flow often to tight deadlines in a dynamic and fast-paced environment

  • Confident self-starter with strong communication skills and an ability to negotiate effectively

  • Problem solver, ability to manage issues in a timely manner

  • Good quantitative and Excel based skills required

  • Bloomberg experience advantageous

  • Candidate should be a strong team player, willing to support more junior members of the team as required.  

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.

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 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.

Learn more about this role

Full time

JR-21055129

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Alex Smith

Referral Bonus:

0

Street Address

Primary Location:
2 King Edward St, London, EC1A 1HQ