International Financial Risk Specialist

Job Description:

Job Title: International Financial Risk Specialist

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:

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.

The ILE team is responsible for overseeing the management of all three EFR risk types at the local entity level in concert with Horizontal specialists. This role will support the team in execution of the related risk program requirements.

Role Description:

Operating within the Risk Framework, the role is to act as a representative of the broader Enterprise Financial Risk organisation in Paris, primarily covering the firm’s core European Union Broker Dealer entity, Bank of America Securities Europe, as well as providing cross regional support to the other EMEA ILE teammates in Dublin and London where needed.

As part of the Legal Entity team, you will assist in providing effective review & challenge across the three EFR risk types and providing risk insights to local stakeholders (Chief Risk Officer, CFO group, local senior management and regulators) as well as the EFR management team.

Key components of the financial risk management program include:

• appropriate risk identification across Lines of Business activities.
• contribution to, as well as review & challenge of, key local regulatory deliverables.
• research and analysis to support production of periodic governance reporting and topical deep dives. Establishment and maintenance of risk monitoring processes including implementation and ongoing calibration of limits and metrics including Board Level Risk Appetite Limits for the entity.
• contribute to ongoing maintenance of core risk program elements such as Risk policies, Financial & Contingency Funding Plans, New Product Reviews, etc. 
• assisting with internal audits and regulatory exams and managing related issues when they arise.

This role reports functionally to the International EFR Executive with a local reporting line into the Head of Legal Entity EFR for the Paris office.

Responsibilities:

• Act as a trusted partner with local risk teams, global EFR teammates and local 1st & 2nd line teams.
• Support the effective review and challenge of business and CFO activities in relation to financial risk generation and control.  
• You will be responsible for entity specific metrics (metric population, limit calibration, ongoing monitoring). Escalate to senior stakeholders as appropriate.
• Contribute to local working groups and governance committees and act as a risk subject matter specialist for the 3 risk types.
• Contribute to regulatory deliverables (ICAAP, ILAAP, recovery plans, Funding and Liquidity Management Strategy) as appropriate, and provide a Risk POV to local governance bodies.
• Assist with Liquidity and IRR policies refreshes and support presentation to the Board.  Also assist in enforcing the requirements in said policies.  
• Contribute to various local and global activities and communications, including weekly updates, team achievements, periodic reporting and select deep-dives

What we are looking for:

• The successful candidate will need to have a strong teamwork mindset to be able to effectively support the team across a broad range of financial topics.
• You will have a natural curiosity and desire to learn and grow your financial skill set in a risk management context within a Trading environment. This will require learning agility to accurately interpret, understand and evaluate a variety of risks across multiple risk types and interconnectivity between risk types
• You will have effective technical and analytical skills (financial data and written reports). 
• Previous experience of Treasury, Finance / Accounting or Risk Management desirable but given the junior nature of the role, relevant parallel experience will be considered.
• Talks and writes in a clear, concise, organized, and convincing manner for the intended audience.
• You will be comfortable multi-tasking across a broad range of topics and conscious of the importance of adhering to deadlines, often on sensitive regulatory deliverables.
• English required, French optional.
• Communication- Can articulately paint pictures & visions of possibilities and likelihoods. Ability to communicate with SMEs as well.

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.