Capital Risk Manager

Job Description:

Job Title: Capital Risk Manager

Corporate Title: Director

Location: Dublin

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:

Overlooking the spectacular Iveagh Gardens with access to all amenities in the beating heart of central Dublin is our Park Place office. Travel options include the LUAS, Dublin Bus networks as well as the Dublin Bikes station, positioned just outside our front doors. As part of our commitment to supporting staff travel to and from work in the most sustainable way possible, we also provide tax saver tickets as part of our award-winning benefits package which means getting to work has never been easier.

The Team

Enterprise Financial Risk (EFR) seeks to deliver effective independent risk management of the activities and processes associated with managing the Company’s capital, liquidity and interest rate risks, including price risk in the CFO managed securities portfolio.  As the Chief Risk Officer (CRO) function covering the Chief Financial Officer (CFO) Group, we also bring together a holistic point of view across all seven risk types for the Company’s CFO. 
 
The team helps Bank of America grow responsibly through developing our teammates, promoting a diverse and inclusive culture, and approaching our work with intellectual curiosity. EFR delivers its mission through a steadfast commitment to its values: cultivating diversity of thought and valuing different perspectives and experiences; promoting learning, fostering relationships and creativity; developing talent, advancing careers, and creating leaders within Global Risk Management and across the company.  Our goal is to ensure that a healthy and sustainable liquidity, capital, and interest rate risk (IRR) profile is maintained through baseline economic scenarios, as well as during times of market and idiosyncratic stress. 

Role Description:

Operating within BAC’s Risk Framework, understand and drive all components of the end-to-end Capital/Capital Risk management process/program for the Enterprise. As a Risk horizontal team, it is our role to ensure the Enterprise is provided and adheres to our Capital Management policy and any resultant standards and guidance. Key components of the Capital/Capital Risk Management program include appropriate risk identification across the 8 lines of business and legal entities, establishment of effective stress testing processes across a range of scenarios, establishment of risk monitoring processes across the 8 lines of business and legal entities; including the review and challenge of Board and Management Level Risk Appetite Limits for our Enterprise and material entities. In addition to our key Risk Framework responsibilities, ECRM is responsible for completing our independent risk management mandate including ensuring the Company’s capital calculations (spot and forecasted) are appropriate, including any changes to the calculations, up to and including Basel III Endgame. 

Responsibilities:

• Develop capital rule expertise on Basel III Endgame regulations with specific focus on the Market Risk section known as the Fundamental Review of the Trading Book (FRTB) 
• Support EFR coverage of Basel III Endgame by executing capital calculation testing and performing review and challenge of regulatory rule interpretations 
• Develop and demonstrate acumen for the identification of risks and mitigants (including market and economic environment and connectivity to other risk stripes) 
• Ensure understanding of the business processes that may increase our risk, as well as the mitigants to that risk 
• Assist in the establishment of all Enterprise Risk Management Program requirements (see program elements above)
• Coordinate and conduct execution of risk framework activities that are the responsibility of EFR, including but not limited to independent review and risk assessment of FLU owned processes (e.g. capital calculation, capital forecasting, etc.) 
• Conduct and ensure appropriate and adequate documentation for all independent risk reviews and risk points of view, including appropriate escalation and communication to Senior Management 
• Conduct and document risk’s acceptance and understanding of the capital impacts from new products and new transactions 
• Deliver effective review and challenge of front-line owned processes that generate or impact our risk or Capital position 
• Enhance the Risk landscape, by ensuring our balance sheet and business model is appropriately stressed across a variety of scenarios, baseline to bankruptcy (resolution) 
• Provide subject matter expertise related to Capital risk management process and Capital stress testing to the Risk verticals teams, Corporate Treasury and other partners across the enterprise, in order to drive the execution of the stress testing framework and ensure Risks identified are reflected across all scenarios 

What we are looking for:

• Demonstrable Markets Risk, Finance, Accounting or Risk Management experience. Note, Diverse backgrounds or experiences welcomed; however knowledge of capital rules and application of the rules required, capital markets product knowledge a plus.
• Proficiency with PowerPoint and Excel. Writes in a clear, concise, organized, and convincing manner for the intended audience
• Strong business-centric mindset with ability to utilize sound business judgment and tailor approach to drive optimal business outcomes
• Vision- Takes a long-term view and builds a shared vision with others; acts as a catalyst for organization change. Influences others to translate vision into action 
• Communication- Can articulately paint credible pictures & visions of possibilities and likelihoods 
• Resilience- Deals effectively with pressure; remains optimistic and persistent, even under adversity. Recovers quickly from setbacks. On occasion required to take an unpopular stand 
• Collaboration- Develops networks and builds alliances; collaborates across boundaries to build Capital relationships and achieve common goals. Influencing and negotiating across external stakeholders (regulators) as well as internal groups including LOB Risk teams, Corporate Treasury, GRRP, Audit & Compliance to drive execution 
• Interpersonal Skills- Treats others with courtesy, sensitivity, and respect. Considers and responds appropriately to the needs and feelings of different people in different situations 
• Leveraging Diversity - Fosters an inclusive workplace where diversity and individual differences are valued and leveraged to achieve the vision and mission of the organization. Exposure and involvement with Employee Engagement initiatives including supporting Diversity & Inclusion efforts 
• Developing Others- Develops the ability of others to perform and contribute to the organization by providing ongoing feedback and by providing opportunities to learn through formal and informal methods 

Benefits of working at Bank of America:

Ireland

• 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 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 Employee Assistance Program for confidential support and help for everyday matters
• Access to free counselling through the Employee Assistance Program and virtual GP services through our private health care plan
• Ability to donate to charities of your choice and the bank will match your contribution
• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of Ireland’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 gender, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, membership of the Traveller community, age, sexual orientation, pregnancy or maternity, civil status,  socio-economic background, family status 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.