International Financial Risk Executive

Job Description:

Job Title: International Financial Risk Executive

Corporate Title: up to Managing Director

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!

Location Overview:

Based in the 8th arrondissement and within the Parisian Golden Triangle, our beautiful Art-Deco era office benefits from luxury modern workspaces, an abundance of natural light and is easily accessible by public transport.

The Team:

You will be joining the Enterprise Financial Risk (EFR) group, which is responsible for delivering effective independent risk management of the activities and processes associated with managing the Bank’s capital, liquidity, and interest rate risks (collectively “financial risks”).  The EFR team is structured as a combination of Line of Business (LOB) and Legal Entity (LE) facing vertical teams, supported by horizontal teams primarily specialising in one of the three EFR areas.  The advertised role sits in EFR’s International Legal Entity (ILE) vertical team, which is responsible for providing an independent assessment of Bank of America’s financial risks within non-US legal entities, branches, and lines of business to ensure the effective and efficient utilization of Bank of America’s international legal entity financial resources in compliance with local and US regulations. 

Role Description:

You will be responsible for providing risk oversight and advice to CFO teams and the LOBs on risk management issues for the local broker dealer entity, Bank of America Securities Europe (BOFASE). Key responsibilities include identifying financial risks to which BOFASE and the LOBs operating through such are exposed, implementing measures to prevent and mitigate losses, and monitoring risk outcomes. Job expectations include the ability to understand how all risk categories including credit, market, operational and compliance may create financial risk and recognize where the entity is susceptible to such based on its evolving business activities.  The key focus area will be a hands-on approach to the effective risk management of BOFASE’s Capital resources, however this role will also provide oversight of IRRBB & Liquidity Risk as the local EFR team lead. 

Responsibilities:

• Participate in establishing risk management procedures and standards.
• Conduct execution of risk framework activities including independent monitoring and testing of controls and risk management processes for the Line of Business (LOB)
• Liaising with businesses to understand market trends and impacts on portfolio, using knowledge of stress testing and its applicability to risk categories.
• Ensuring adherence to the policies and procedures established by the company.
• Managing risk requests, breach remediation's and providing risk effective challenges for front line units.
• Developing risk management analyses, reports, and approval procedures and guidelines on risk limits by type of product and/or transaction.

What we are looking for:

• Strong analytical skills, including both analysis of financial data and written reports.
• Demonstrable experience in coverage areas relevant to EFR – liquidity risk, capital & interest rate risk in the banking book, ideally in a comparative organisation in terms of size and complexity.  
• Proficiency with PowerPoint and Excel.
• Writes in a clear, concise, organized, and convincing manner for the intended audience demonstrating strong analytical skills and an ability to tailor messaging to the audience.
• Strong business-centric mindset with ability to utilize sound business judgment and tailor approach to drive optimal business outcomes.
• Ability to develop networks and build alliances; collaborates across boundaries to build relationships and achieve common goals. Influencing and negotiating across external stakeholders (regulators) as well as internal groups including LE CRO, LOB Risk, CFO organisation particularly Corporate Treasury, Recovery & Resolution Planning, Audit & Compliance to drive execution.
• Ability to ensure that we are providing appropriate monitoring and analysis to allow us to support high quality risk insights for BofASE.

Benefits of working at Bank of America:

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.