Global Markets Credit - Hedge Funds Credit Risk Officer, Vice President

Job Description:

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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!

Job Description:
This job is responsible for analyzing credit and investigating existing and prospective clients and counterparts. Key responsibilities include focusing on but not limited to credit, market, and reputational risk; as well as adherence or monitoring of credit risk policies, risk appetite, and reporting, including but not limited to Top of House (TOH) and Line of Business (LOB) specific reports or regulatory related reporting.

Responsible for all aspects of the credit management of Hedge Funds (HF). This is a high-volume and fast-moving portfolio that utilizes a risk-based approach to drive revenue while maintaining appropriate credit risk disciplines.

• Credit analysis: Participate in initial and ongoing due diligence of HFs. Perform quantitative and qualitative credit assessment, setting internal ratings and recommending credit limits

• Initial margin calculation: Determine initial margin (IM) and evaluate transactional risks associated with OTC and exchange traded derivatives, securities financing and structured trades

• Trade approval: Hold delegated approval authority to approve trading floor request (OTC derivatives) or to make recommendations to higher authority levels.

• Relationship management: Build strong working relationship with external HF clients, internal business partners including Sales, Structuring & Trading, Risk counterparts, Legal and Audit Function

• Risk monitoring: Undertake regular exposure analysis including internal stress testing and IM backtesting. Monitoring of performance and AUM flow data received from HFs

• Trading documentation: Liaise with Legal and client in negotiating ISDA, CSA, GMRA etc.

• Portfolio reviews: Preparation of portfolio reports and reviews, including analysis of OTC and F&O exposures, any counterparties of concern and other pertinent risk issues.

Candidate will have significant exposure to Global Markets personnel including Trading / Structuring / Sales, as well various support partners. Candidate must be comfortable working on transactions in a fast-paced capital markets/trading environment.

Responsibilities:

• Sets or supports the oversight of the ongoing management of risk parameters and guardrails for credit risk while ensuring adherence to risk appetite/limits, and actively inspects and/or designs risk scenarios to implement decisions
• Supports the credit approval process and therefore is accountable for overall portfolio performance and asset quality, including underwriting, structuring and monitoring tasks
• Conducts analysis, inspects and/or develops credit risk reporting for specific products, and monitors and reports on key indicators for changes in credit quality to communicate to senior management
• Ensures adherence to policy and standards and performs due diligence that the risk is within the bank's defined risk appetite, using knowledge of stress testing and its applicability to credit risk
• Supports monitoring of adherence to industry risk governance, as well as monitoring for potential operational, reputational and market risk issues
• Identifies risks early that could impact the assigned portfolio and coordinates with business counterparts to resolve portfolio issues

Required Skills:

5-10 years of prior hedge fund risk management and/or hedge fund due diligence experience required

Proficient with Microsoft Office, General knowledge of Hedge Funds and financial derivatives​

• Credit and Risk Assessment
• Financial Accounting
• Issue Management
• Portfolio Analysis
• Risk Analytics
• Attention to Detail
• Business Intelligence
• Collaboration
• Interpret Relevant Laws, Rules, and Regulations
• Regulatory Compliance
• Oral Communications
• Presentation Skills
• Prioritization
• Project Management
• Written Communications

Desired Skills:

• Bloomberg

Shift:

Hours Per Week: