Job Title: Bank Funding Trader
Corporate Title: Assistant Vice President
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.
A role within Global Funding offers a rewarding, exciting and varied career with the responsibility of managing risk across the global financial markets. The London funding team is a key part of this group, comprising of a diverse group of 17 individuals with complementary skills sets. This team help to shape and execute the financial strategy of the firm and in addition are known for winning awards for connecting their work to the values of the firm, including pushing new boundaries in automation and operational excellence. Over the course of their career the skills a global funding trader will acquire are easily transferable, meaning that mobility across both business and geographical boundaries is readily achievable.
Manage daily rate setting and funding trade execution / coordinate with global partners
Manage Local and Foreign currency (USD) balance sheet, interest rate and liquidity gap risks
Manage liquidity and applicable local and enterprise ratios e.g. LCR / NSFR
Balance various factors when sourcing funding including stability, price, and accessibility in changing conditions
Manage foreign exchange and derivative trade execution as required
Oversee daily cash and collateral positions and communicate with global partners.
Provide pricing consultation to lines of business (LOBs)
Monitor conditions affecting the funding environment and react appropriately
Foreign exchange and derivative trade execution
Analyse balance sheet forecasts to provide insight on appropriate funding plan
Work with business partners to develop an understanding of future business flows and associated funding requirements
Investigate forecast misses in order to minimize future variance
Liquidity risk management
Monitor daily liquidity risk metrics and escalate key risks
Contribute to production and enhancement of periodic liquidity risk reporting
Manage excess liquidity to meet statutory requirements and achieve maximum efficiency
Balance sheet governance
Monitor changes in assets and liabilities and understand reasons for change
Provide input to Funds Transfer Pricing to ensure that FTP drives behaviour consistent with corporate goals.
Ensure that a robust control environment is maintained through compliance with all policies, procedures and directives
Act as delegate when required to represent Corporate Treasury at local LMT / Treasury regional management meetings/ALCOs
Maintenance & development of Critical Risk Processes
Maintenance of key processes including flash P&L processes, supporting risk activity & analysis
Preparation of Senior management reporting packs and presentations
Analysis and communication of performance & risk metrics
Measurement and monitoring of risk positions
Automation of repetitive tasks in excel with VBA/ Python
What we are looking for:
Experience within a banking / treasury environment
Undergraduate degree with quantitative focus e.g., finance/ economics, engineering, mathematics, or technology
FCA registration not a pre-requisite but required if applicant successful
Solid tech & programming skills are a must; Word and PowerPoint proficiency
Adaptability, fungibility across Global Funding business functions.
Financial market and product knowledge
General understanding of key regulatory topics impacting Treasury (Capital, Liquidity, IRR) and how related items are measured
Designs business processes with varying control / flexibility for multiple stakeholders
Benefits of working at Bank of America:
Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum
The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
Access to an Employee Assistance Program for confidential support and help for everyday matters
Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.
Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.
Bank of America:
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 sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or 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.
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