Global Markets Risk Manager

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 position entails responsibility for the metrication, evaluation, and monitoring of applicable market related risks for regulatory capital calculation taken within traded product areas (FICC, Equities, FX both linear & non-linear and Counterparty Risk).

The position scope includes global coverage in evaluation of model risk, reporting of market risk, overseeing production of market risk reports, monitoring risk vs limits and interfacing across risk teams, Front Line Units and Control Functions (e.g. Technology, Operations, Finance).

Responsibilities:​

• Timely production of market risk inputs for Capital reporting of the BIS FRTB regulatory requirement for Bank of America regionally and globally
• Assist with design and production of corresponding risk reports and investigation tools
• Weekly/monthly review and challenge of FRTB sensitivities based on Front Line Unit’s data quality analysis 
• Engage with subject matter experts in Model Development, Capital Management,  and Front Line Units, to identify and appropriately escalate issues  
• Support Risk Managers and Front Line Unit in the monitoring of FRTB sensitivity limits 
• Provide explanatory commentary to relevant stakeholders, and manage any ad-hoc risk queries pertaining to FRTB measures
• Summarise data and prepare presentations to support senior management and regulatory dialogue

What we are looking for:

• Solid academic background, which may include a postgraduate qualification
• Knowledge of financial markets, ideally with solid understanding of Banking regulations (BIS), specifically FRTB
• Good analytical knowledge of traded products and their valuation & risk profiles in positioning and hedging exposures
• Highly proficient in desktop data manipulation e.g. Excel (models, pivots), Access, etc.
• Excellent written and verbal communication skills
• Ability to work in a high-energy and demanding environment, taking care of multiple things at any given time
• Minimum 5 years background in a traded risk facing area

Skills that will help:

• Previous experience with market risk regulation is highly desirable
• Proficiency in mathematical modelling (quantitative) of traded market products
• Skills in SQL Query writing VBA or scripting languages (Python) and use of Microsoft Excel DLLs is/are desirable
• Familiarity with R, S, MATLAB, FinCAD, MathCAD or other quantitative tools would be advantageous

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.