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Global Markets Risk Senior Manager

London, , United Kingdom

Job Description:

Job Title: Global Markets Risk Manager

Corporate Title:  Up to VP

Location:  London

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!

Location Overview:

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.

The Team:

You will be supporting the Market Risk team to discharge its responsibility of review and inquire on the FRTB sensitivities produced by the Front Line.

Role Description:

This job is responsible for the local and/or global management and direction of applicable market related risk management functions within a specific product area. Key responsibilities include monitoring and adhering to market risk management policies, procedures, and standards, and implementing new/complex product approval processes, analysis of model risk, analysis and reporting of market risk, distributing the market risk reports, and interfacing with the trading desk and other risk and support groups (i.e., Compliance, Finance, Operations, etc.).

Responsibilities:

Stress testing: 

  • Review desk level vulnerabilities, illiquid, one-way and concentrated risks on a quarterly basis and maintain a ‘key risks’ inventory for major LEs at desk level
  • Design custom scenarios for more complex derivative / exotic desks to address their specific vulnerabilities
  • Perform and review scenario analysis for ‘key risks’ and incorporate in weekly reporting

Risk-not-in-SA:

  • Methodology pending regulatory engagement/rule finalization

Illiquid and Concentration Risks: 

  • Perform quantitative assessment of position liquidity using market data  (e.g., trading volumes) 
  • Build additional tools to assess of  positions with limited market liquidity data (e.g. Munis, Loans, etc) 

Limits Management: 

  • Calibrate and monitor new limits at TOH and LE level on FRTB sensitivities (~1000 limits/Monitoring Metrics) 
  • Limits calibration and management to incorporate linkage to capital availability under FRTB

What we are looking for:

  • Good academic background, which may include a postgraduate qualification 
  • Good people skills demonstrated across various communication styles (both written and verbal)
  • Knowledge of financial markets, ideally with solid understanding of Macroeconomics 
  • Understanding of financial derivatives and modelling 
  • Ability to multi-task and prioritize across several competing demands, meeting tight deadlines 
  • Previous experience as a Risk Manager working directly with the Front Line and performing risk analysis is desirable  
  • Effective team player 
  • Intellectual curiosity 
  • Excellent problem-solving skills 

Skills that will help:

  • Previous experience with market risk regulation is highly desirable 
  • Skills in VBA or scripting languages is desirable but not mandatory

Benefits of working at Bank of America:

UK

•  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.

Learn more about this role

Full time

JR-24023577

Manages People:

Street Address

Primary Location:
2 KING EDWARD ST, London, EC1A 1HQ