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Counterparty Credit Risk Manager

Jersey City, New Jersey;

Job Description:

As a member of the Global Markets and Financial Risk (GMFR) division, the Counterparty Risk Compliance Coverage Area (CA) is a risk management function that oversees Bank of America's compliance with Counterparty Risk Laws, Rules, Regulations and Guidance (LRRGs). Risk LRRG compliance is not directly covered by the Bank's Global Compliance and Operational Risk division, given the requisite risk expertise required to assess compliance.

A successful candidate will lead the Counterparty CA framework, whose responsibilities include:

-Maintenance of the inventory of LRRGs related to Counterparty Risk management, across jurisdictions where Bank of America engages in Global Markets business
-Partner with the functions that perform activities in fulfillment of the LRRG Requirements (Risk Managers, Model Developers, Line of Business, Operations, Legal etc.) to understand the Processes and Controls
-Develop and execute a defined testing program to assess and document the status of compliance with LRRGs
- Collaborate with LRRG Requirement owners to remediate gaps to compliance
-Inform Senior Management and Stakeholders of the state of compliance a regular basis
-Respond to Compliance Self-Assessment related queries from Corporate Audit and Regulators
-Collaborate with Global Compliance and Operational Risk (GCOR) on firm wide compliance program

Required and desired skills/qualifications:

- Understanding of basic concepts related to Counterparty Credit Risk Management such as exposure metrics: marked-to-market, current exposure, potential exposure, sensitivities, Limits Management, Derivatives Documentation, risk mitigating strategies such as collateralization. The Regulatory expectation of how Banks should manage Counterparty Risk is best described in the Interagency Supervisory Guidance on Counterparty Credit Risk Management issued in 2011
- General familiarity with Global Markets business and products
- 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
- 5 years + experience in a function supporting Global Markets

Job Band:

H4

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 Counterparty Risk Compliance Coverage Area (CA) is a risk management function that oversees Bank of America's compliance with Counterparty Risk Laws, Rules, Regulations and Guidance (LRRGs). Risk LRRG compliance is not directly covered by the Bank's Global Compliance and Operational Risk division, given the requisite risk expertise required to assess compliance.

A successful candidate will lead the Counterparty CA framework, whose responsibilities include:

-Maintenance of the inventory of LRRGs related to Counterparty Risk management, across jurisdictions where Bank of America engages in Global Markets business
-Partner with the functions that perform activities in fulfillment of the LRRG Requirements (Risk Managers, Model Developers, Line of Business, Operations, Legal etc.) to understand the Processes and Controls
-Develop and execute a defined testing program to assess and document the status of compliance with LRRGs
- Collaborate with LRRG Requirement owners to remediate gaps to compliance
-Inform Senior Management and Stakeholders of the state of compliance a regular basis
-Respond to Compliance Self-Assessment related queries from Corporate Audit and Regulators
-Collaborate with Global Compliance and Operational Risk (GCOR) on firm wide compliance program

Required and desired skills/qualifications:

- Understanding of basic concepts related to Counterparty Credit Risk Management such as exposure metrics: marked-to-market, current exposure, potential exposure, sensitivities, Limits Management, Derivatives Documentation, risk mitigating strategies such as collateralization. The Regulatory expectation of how Banks should manage Counterparty Risk is best described in the Interagency Supervisory Guidance on Counterparty Credit Risk Management issued in 2011
- General familiarity with Global Markets business and products
- 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
- 5 years + experience in a function supporting Global Markets

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21071178

Band: H4

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Caroline Papp

Referral Bonus:

0