Global Markets CVA Risk Manager

Job Description:

Job Title: Global Markets CVA Risk Manager

Corporate Title: up to VP

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:

This position is in the Market Risk Management team for a risk manager within the Rates and Counterparty Portfolio Management team. In addition to providing independent oversight of the market risks taken by the business, the market risk manager will assess a broad spectrum of risks for the desk, liaising with other risk functions as necessary, including operational, credit, and counterparty risks. This role requires close interaction with the trading desk and other risk and support groups (i.e. Finance, Quants, Technology, etc.)

Role Description:

This job is responsible for the reporting, analysis, and monitoring applicable market related risks taken within a specific product area. Key responsibilities include 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.). This role specifically involves the review and challenge of the market risk and capital footprint associated with CVA (SA-CVA) and associated controls and reporting for Global Markets, drive projects to improve the CVA risk framework and methodology. 

Responsibilities:

• Identifies and monitors market risk exposure and develops mitigation strategies and resolutions in accordance with the bank's risk appetite and risk limits identified, as well as regulatory requirements, as applicable 
• Manages risk requests, breach remediations and providing risk effective challenges for front line units 
• Sets managing risk parameters and guardrails for market risk, while ensuring adherence to risk appetite and limits, and actively designing risk scenarios to implement decisions 
• Develops market risk coverage plans, oversees execution of monitoring, testing and risk assessments, conducts analysis and develops market risk reporting for specific products and communicates changes to senior management 
• Liaisons with businesses to understand market trends and impacts on portfolio, using knowledge of stress testing and its applicability to market risk 
• Ensures adherence to the policies and procedures established by the company 

What we are looking for:

• Solid 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  

What would help:

• Previous experience as a Risk Manager working directly with the Front Line and performing risk analysis

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.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.