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Market Risk Manager

Paris, , France

Job Description:

Job Title:  Market Risk Manager

Corporate Title: Assistant Vice President/Vice President

Location: Paris

Role Description:

  • 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

The Team:

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 firm wide compliance program

  • Collaborate with Line of Business (LOB) Market Risk Managers to facilitate ongoing compliance with LRRGs in Business As Usual (BAU) processes

Core 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

  • Expertise in use of applications in Microsoft Office including Microsoft Excel, VBA coding

  • Ability to draft process flow charts

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 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.

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.

Job Band:

H5

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Title:  Market Risk Manager

Corporate Title: Assistant Vice President/Vice President

Location: Paris

Role Description:

  • 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

The Team:

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 firm wide compliance program

  • Collaborate with Line of Business (LOB) Market Risk Managers to facilitate ongoing compliance with LRRGs in Business As Usual (BAU) processes

Core 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

  • Expertise in use of applications in Microsoft Office including Microsoft Excel, VBA coding

  • Ability to draft process flow charts

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 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.

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

Full time

JR-22003218

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Gail Danvers

Referral Bonus:

0

Street Address

Primary Location:
49-51 Rue La Boetie, Paris, 75008