Prime Brokerage Risk Sr. Manager

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
 

Job Description:
Responsible for the local and/or global management and direction of a Risk Management function either geographically or functionally, within a Business Area or several Business Areas (PB, IPB, PTSG, FIPB, F&O, FXPB) under the Equity Asset Management Services (EAMS) umbrella.  In conjunction with the Prime Brokerage Risk Executive, the Prime Brokerage Risk Sr Manager establishes margin and risk policies across areas of remit, and ensures procedures, analysis, monitoring of client accounts and reporting of risk for a Business Area or across Business Areas. Additional responsibilities include development of margin methodology, Intraday Risk policy and monitoring, oversight of production of EST/CCAR results and reporting of market risks.  The Prime Brokerage Risk Sr Manager will primarily interface with the Heads of Business Areas and their counterparts within other risk and support groups (i.e. Compliance, Finance, Operations, etc.) Incumbents typically have over ten (10) years of experience in Risk Management or Trading.  Management, product knowledge and trading or quantitative skills are necessary.

• Providing second line risk oversight for business activities and risks arising in global Prime Brokerage/Listed Derivatives clearing businesses with focus on AMRS based clients.

• Ensuring the global risk framework and associated procedures are implemented and followed and that issues are swiftly identified and resolved or escalated as necessary

• Significant involvement with strategic and development work as it relates to enhancing the margin methodologies, stress testing, risk analytics and intra-day risk management tools

• Risk assessment and approval as required for new or material changes to margin financing and clearing arrangements

• Employing counterparty credit information provided by Credit risk teams to appropriately calibrate margin terms and right size exposures

• Stress testing client portfolios and providing oversight of limit utilizations where relevant

• Working closely with the first line Risk function and business to understand and evaluate existing and evolving risks and challenging where appropriate

• Developing strong relationships with key stakeholders across senior business management, origination and the various risk and credit functions

• Active participant in the risk management forums, bringing and leading the agenda from a AMRS perspective.

• Understanding changes to market structure, regulation and best practice

Required Qualifications:

• 5 years+ working in risk management function supporting Traded products with deep knowledge of Repo product

• Senior risk manager able to apply risk and control disciplines in an effective manner

• Counterparty credit risk experience preferred as part of overall experience.

• Technical understanding of the quantitative and qualitative risks impacting financing and clearing businesses is highly desirable

• Cross asset product knowledge including derivatives valuation and risk modelling

• Strong analytical skills and attention to detail

• Intellectually curious and able to execute sound judgment to appropriately characterize and represent risk issues

• Structured yet flexible approach, balanced and fair, able to make difficult decisions where necessary

• Excellent communication and interpersonal skills, proven experience of collaborating and leveraging relationship

Skills:

• Analytical Thinking

• Coaching

• Credit and Risk Assessment

• Critical Thinking

• Collaboration

• Oral Communications

• Portfolio Analysis

• Presentation Skills

• Written Communications

• Issue Management

• Monitoring, Surveillance, and Testing

• Regulatory Compliance

• Technical Documentation

• Trading Strategy

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$175,000.00 - $286,500.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.