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

New York, New York

Job Description:

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!

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:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-24005506

Manages People: No

Travel: Yes, 5% of the time

New York pay and benefits information

New York pay range:

$120,000 - $184,000 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

Street Address

Primary Location:
ONE BRYANT PARK, NY, New York, 10036