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Professional, Quantitative Services - Uncleared Margin Rule

Toronto, , Canada

Job Description:

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. In Canada, Bank of America has a strong market position on which to continue to build, as well as a clear commitment to the market.

Job Description

The Quantitative Services Uncleared Margin Rule (UMR) Professional is a member of the team responsible for maintaining the stability of business processes and controls needed to ensure the firm’s initial margin (“IM”) requirements are accurate and consistent with CFTC & SEC Swap Dealer Regulatory Capital rules. This work is being executed to support of our internal partners in the Regulatory Capital and Enterprise Capital Management teams.

 

The analyst will be responsible for various business-as-usual deliverables which must be executed in a timely and accurate fashion.

Responsibilities

  • Review and verify the model inputs feeding the IM  calculations
  • Identify, document and escalate production errors detected during pre and post-calculation routines
  • Perform periodic controls which exist to prevent and mitigate erroneous IM  calculations
  • Work directly with the front office and technology teams on issues discovered through technology testing and daily control procedures
  • Assist with the testing and validation of IM results through each technology release
  • Identify and establish control processes that will mitigate future IM  calculation errors
  • Perform daily and ad-hoc reporting to measure and monitor key metrics for the UMR BAU space
  • Provide enhanced analysis and IM  explains to front office and collateral operations teams when counterparty disputes arise for IM calculations
  • Communicate effectively with all levels of management, across business units as well as externally to customers of the firm.

Required Skills

  • Knowledge of Financial Risk Management, Credit Risk Models, Value at Risk (VaR) including market & credit risk

  • Strong technical skills including experience using Python, Excel/VBA and SQL

  • Experience pricing OTC derivative products including futures, options, swaps, credit default swaps, forward rate agreements and swaptions

  • Experience working with OTC derivatives/Fixed Income

  • Excellent communication & analytical skills

  • Ability to document and present complex material in a simple and understandable manner

Desired Skills

  • Master Degree in Mathematics, Finance, Business or Quantitative field

  • Two years or plus experience working in a quantitative risk, middle office, or front office role

Other Qualifications

  • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.

  • Excels in working among diverse viewpoints to determine the best path forward.

  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner.

  • Commitment to challenging the status quo and promoting positive change.

  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.

  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.

What Bank of America Offers

Bank of America embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Bank of America for our clients, our shareholders and our employees.

Bank of America places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity and accountability at all levels of the organization.

Bank of America is an Equal Opportunity Employer.

Bank of America encourages applications from all qualified individuals. Applicants with disabilities may notify us of any accommodations needed to support your participation in the recruitment process. We wish to thank all applicants for their interest and effort in applying. Please be aware that only candidates selected for interviews will be contacted for this position.

Job Band:

H5

Shift: 

Hours Per Week:

37.5

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. In Canada, Bank of America has a strong market position on which to continue to build, as well as a clear commitment to the market.

Job Description

The Quantitative Services Uncleared Margin Rule (UMR) Professional is a member of the team responsible for maintaining the stability of business processes and controls needed to ensure the firm’s initial margin (“IM”) requirements are accurate and consistent with CFTC & SEC Swap Dealer Regulatory Capital rules. This work is being executed to support of our internal partners in the Regulatory Capital and Enterprise Capital Management teams.

 

The analyst will be responsible for various business-as-usual deliverables which must be executed in a timely and accurate fashion.

Responsibilities

  • Review and verify the model inputs feeding the IM  calculations
  • Identify, document and escalate production errors detected during pre and post-calculation routines
  • Perform periodic controls which exist to prevent and mitigate erroneous IM  calculations
  • Work directly with the front office and technology teams on issues discovered through technology testing and daily control procedures
  • Assist with the testing and validation of IM results through each technology release
  • Identify and establish control processes that will mitigate future IM  calculation errors
  • Perform daily and ad-hoc reporting to measure and monitor key metrics for the UMR BAU space
  • Provide enhanced analysis and IM  explains to front office and collateral operations teams when counterparty disputes arise for IM calculations
  • Communicate effectively with all levels of management, across business units as well as externally to customers of the firm.

Required Skills

  • Knowledge of Financial Risk Management, Credit Risk Models, Value at Risk (VaR) including market & credit risk

  • Strong technical skills including experience using Python, Excel/VBA and SQL

  • Experience pricing OTC derivative products including futures, options, swaps, credit default swaps, forward rate agreements and swaptions

  • Experience working with OTC derivatives/Fixed Income

  • Excellent communication & analytical skills

  • Ability to document and present complex material in a simple and understandable manner

Desired Skills

  • Master Degree in Mathematics, Finance, Business or Quantitative field

  • Two years or plus experience working in a quantitative risk, middle office, or front office role

Other Qualifications

  • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.

  • Excels in working among diverse viewpoints to determine the best path forward.

  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner.

  • Commitment to challenging the status quo and promoting positive change.

  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.

  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.

What Bank of America Offers

Bank of America embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Bank of America for our clients, our shareholders and our employees.

Bank of America places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity and accountability at all levels of the organization.

Bank of America is an Equal Opportunity Employer.

Bank of America encourages applications from all qualified individuals. Applicants with disabilities may notify us of any accommodations needed to support your participation in the recruitment process. We wish to thank all applicants for their interest and effort in applying. Please be aware that only candidates selected for interviews will be contacted for this position.

Learn more about this role

Full time

JR-22002767

Band: H5

Manages People:

Travel: No

Manager:

Talent Acquisition Contact:

Birkan Casper

Referral Bonus:

0

Street Address

Primary Location:
181 BAY ST, Toronto, M5J 2V8