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Vice President, Quantitative Services Professional

Hong Kong, , Hong Kong;

Job Description:

Your background

• 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.

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 you can expect

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”) calculations are accurate and consistent with Dodd-Frank’s Uncleared Margin Rules (UMR) in support of our internal stakeholder, the Counterparty Portfolio Management group.

What you will do

• 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.

About Bank of America 
Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the world 
Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Job Band:

H5

Shift: 

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Your background

• 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.

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 you can expect

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”) calculations are accurate and consistent with Dodd-Frank’s Uncleared Margin Rules (UMR) in support of our internal stakeholder, the Counterparty Portfolio Management group.

What you will do

• 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.

About Bank of America 
Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 35 countries. In the U.S. alone, we serve almost all of the Fortune 500 companies and approximately 67 million consumer and small-business clients. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the world 
Our Asia Pacific team is spread across 19 cities in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region’s leading financial services companies.

Learn more about this role

Full time

JR-22059851

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Asha Yadav

Referral Bonus:

0