Asset Liability Manager – International Balance Sheet Management

Job Description:

Job Title: Asset Liability Manager – International Balance Sheet Management

Corporate Title: Vice President

Location: Paris

Company Overview:

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!

The Team:

Balance Sheet Management (BSM) is a division within the CFO group responsible for providing executive management with accurate and timely forecasts of the balance sheet and Net Interest Income (NII). Another critical BSM function is the measurement and analysis of Interest Rate Risk (IRR) using various methods. This information provides the framework that allows the company to position its balance sheet consistently with its risk appetite, and expectations for changes in interest rates.

BSM maintains close partnerships with various groups across the enterprise, providing key input to critical processes and strategic decisions. These partnerships focus on the following: (1) balance sheet composition and interest rate risk strategy, (2) strategic planning for the company’s three-year outlook with Corporate Planning and Finance, (3) setting the right strategy to accurately measure the profitability of assets and liabilities to ensure efficient usage of the balance sheet, (4) stress testing the balance sheet under adverse economic scenarios and, (5) producing the balance sheet and NII forecast.

The International Balance Sheet Management team is comprised of 26 employees covering a range of expertise including interest rate risk management, stress testing, forecasting, treasury analytics and providing support to all regional treasurers.

Role Overview:

This role will be responsible for the successful delivery of interest rate risk analytics to fulfil all internal and regulatory needs in France by providing quantitative analytics for senior management to monitor balance sheet positioning, as well as measure and report on Credit Spread Risk in the Banking Book and Interest Rate Risk in the Banking Book (IRRBB) to local Regulators. The successful candidate will also contribute to fulfilling similar obligations across the international spectrum. The three key areas of interest rate risk measurement being risk associated with NII, Economic Value of Equity (EVE), and tenor basis risk.

Responsibilities:

• Responsible for the successful delivery of Interest Rate analytics, forecasting and all disciplines relevant to the Balance Sheet Management (BSM) organization for Bank of America entity in France. Stakeholders include the risk executive, CFO and treasurer and other functions of Treasury/CFO Group in France

• Foster relationships and drive partnerships with key stakeholders, including the CFO, risk executive, treasurer, regulatory relations, and legal entity controllers as point of contact for BSM in France

• BSM point of contact for regulatory interaction, working with the International BSM team to satisfy all regulatory requirements and implementation of new guidelines and ad hoc reporting.

• Key member of the International BSM team driving collaboration, communication and consistent application of regulatory rules and guidelines, implementation, and maintenance controls and appropriate documentation for reporting that meets regulatory and internal policy requirements

• Represent BSM in various regional, international, and global workstreams and committees including the Interest Rate Risk Working Group “IRRWG”

• Proactively develop enhancements to processes and controls to promote efficient and well governed workflows

• Contribute to design, development, maintenance and implementation of models, critical use spreadsheets, desk top procedures and other documentation

What we are looking for:

• Bachelor's Degree or higher (or equivalent experience in Finance, Business, Accounting, Quantitative, or Economics)

• Proven experience in banking industry with exposure to products driving interest rate and data analytics

• Good understanding of financial market dynamics and key drivers of interest rate risk

• Exposure to global banking and/or global markets products and ability to discuss drivers of interest rate risk

• Comprehension of financial statements in a banking setting with focus of the balance sheet composition

• Display good grasp of forecasting, preferably of balance sheet and/or net-interest income “NII”.

• Proven experience in data analytics with emphasis on design, testing, and implementation of calculations related to net interest income, cash flows, or risk analytics

• Worked in a position of leadership creating and fostering collaborative relationships across multiple locations, working within a high performing team to deliver accurate and timely information

• Great communicator who is inquisitive and willing to challenge the status quo.

• Ability to drive project goals with minimal oversight including pre-emptive/emerging needs that have significant regulatory impact

• Self-starter to develop and drive the agenda to elevate deliverables and controls with and ability to manage multiple priorities in a time sensitive environment

France

• Competitive retirement plan in addition to State plans

• Mandatory Medical Plan provided by the bank as a top-up to Social Security health benefits for you and your family.

• Employees and family members can receive free health advice 24/7 through a range of English and French speaking medical providers

• Life and disability insurance

• Time Savings Account (‘CET’) to save some of your leave days, cash them out or use them later

• Reimbursement of 50% of your commuter pass

• Nursery scheme for children under age 3

• Works council benefits

• Access to an Employee Assistance Programme for confidential support and help for everyday matters

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering with local charities

• Opportunity to receive free entry to arts exhibitions sponsored by Bank of America in Paris

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.