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Risk Analysis Specialist I

Chicago, Illinois

Job Description:

Overview of Global Risk Analytics

Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist I within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM).  GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard.  GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks.  In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities. 


Overview of the Team

Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.

This role sits within Limits Monitoring team (LM), which is responsible for ongoing monitoring and escalation of unapproved trading activity above established credit limits and trading activity with restricted counterparties or with restricted products.  The Limits Monitoring team is additionally responsible for escalating issues impacting trading related activity and working with the Enterprise Credit and Enterprise Credit Risk to agree an action plan where trading activity had breached risk appetite limits.

Overview of the Role

As a Risk Analysis Specialist I, your responsibilities will involve:

  • Perform in-depth daily analysis into the bank’s Counterparty Credit Risk (CCR) trading activity against credit limits or against restricted counterparties or with restricted products across all Lines of Business, on a global scale.

  • Perform portfolio level exception analysis at the global and legal entity levels.

  • Identify and explain key drivers of trading violations.

  • Determine escalation of unapproved trades and raise to the relevant Credit Forums.

  • Work directly with the Credit Risk Officers to assist them in using this analysis to make better limit utilization decisions.

  • Raise issues with upstream data providers where necessary – along with quantifying impact.

  • Work with the wider CCR Lines of Business, Enterprise Credit and Project Tech teams to identify and quantify system and trading limitations resulting from violation investigations and analysis.

  • Perform longer term trend analysis across CCR portfolios to identify and remediate systemic themes.

  • Assist in the production of communication materials for senior management, governing committees and regulatory bodies.

Position Overview

Responsible for performing trading violation investigations and escalations to ensure risk is mitigated.  Coordinates the production of performance reports for senior mgt. Reviews and analyzes investigative findings and communicate to Risk Forums effectively. May participate in or develop suite of metrics and executive commentary.  Bachelor's degree required.

Required Education, Skills, and Experience

  • Bachelor’s degree and above (or equivalent), preferably in finance or a quantitative field

  • Previous experience (1-2 years) in a related field (Counterparty Credit Risk, Market Risk, Middle Office, Operations).

  • Experience in data analysis, with strong research and analytical skills.

  • Broad financial product knowledge.

  • Bachelor’s degree and above, preferably in finance or a related investment banking field.

  • Strong written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions.

  • Strong work ethic and ability to drive results.

  • Ability to multitask with strong time management skills.

  • High level of attention to detail.

  • Experience working with Sales and Trading.

  • Experience in multiple types of trading activity flows and processes.

Desired Skills and Experience

  • Experienced in Front Office trade support.

  • Strong programming skills (Python, SQL, Tableau).

  • Proficient with Microsoft Office tools, with greater experience with Excel and PowerPoint

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

2000

Job Description:

Overview of Global Risk Analytics

Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist I within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM).  GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard.  GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks.  In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities. 


Overview of the Team

Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.

This role sits within Limits Monitoring team (LM), which is responsible for ongoing monitoring and escalation of unapproved trading activity above established credit limits and trading activity with restricted counterparties or with restricted products.  The Limits Monitoring team is additionally responsible for escalating issues impacting trading related activity and working with the Enterprise Credit and Enterprise Credit Risk to agree an action plan where trading activity had breached risk appetite limits.

Overview of the Role

As a Risk Analysis Specialist I, your responsibilities will involve:

  • Perform in-depth daily analysis into the bank’s Counterparty Credit Risk (CCR) trading activity against credit limits or against restricted counterparties or with restricted products across all Lines of Business, on a global scale.

  • Perform portfolio level exception analysis at the global and legal entity levels.

  • Identify and explain key drivers of trading violations.

  • Determine escalation of unapproved trades and raise to the relevant Credit Forums.

  • Work directly with the Credit Risk Officers to assist them in using this analysis to make better limit utilization decisions.

  • Raise issues with upstream data providers where necessary – along with quantifying impact.

  • Work with the wider CCR Lines of Business, Enterprise Credit and Project Tech teams to identify and quantify system and trading limitations resulting from violation investigations and analysis.

  • Perform longer term trend analysis across CCR portfolios to identify and remediate systemic themes.

  • Assist in the production of communication materials for senior management, governing committees and regulatory bodies.

Position Overview

Responsible for performing trading violation investigations and escalations to ensure risk is mitigated.  Coordinates the production of performance reports for senior mgt. Reviews and analyzes investigative findings and communicate to Risk Forums effectively. May participate in or develop suite of metrics and executive commentary.  Bachelor's degree required.

Required Education, Skills, and Experience

  • Bachelor’s degree and above (or equivalent), preferably in finance or a quantitative field

  • Previous experience (1-2 years) in a related field (Counterparty Credit Risk, Market Risk, Middle Office, Operations).

  • Experience in data analysis, with strong research and analytical skills.

  • Broad financial product knowledge.

  • Bachelor’s degree and above, preferably in finance or a related investment banking field.

  • Strong written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions.

  • Strong work ethic and ability to drive results.

  • Ability to multitask with strong time management skills.

  • High level of attention to detail.

  • Experience working with Sales and Trading.

  • Experience in multiple types of trading activity flows and processes.

Desired Skills and Experience

  • Experienced in Front Office trade support.

  • Strong programming skills (Python, SQL, Tableau).

  • Proficient with Microsoft Office tools, with greater experience with Excel and PowerPoint

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22048836

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jillian Teeter

Referral Bonus:

2000

Street Address

Primary Location:
540 W Madison St, IL, Chicago, 60661