Risk Analysis Specialist

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:
This job is responsible for supporting analytical requests, reporting and analysis, and assisting with modeling activities to help manage risk and minimizing credit and operating losses. Key responsibilities include analyzing portfolio trends, developing data sets or queries to extract data, and supporting the production of internal and external reporting needs. Job expectations include effectively supporting information and insights which have significant regulatory impact, financial accountability, and direct impact to business policies and goals.

Responsibilities:

• Supports the development and execution of reporting to allow risk and business partners to effectively identify and manage risk in an effective manner
• Analyzes trends and supports the data design, portfolio trends, loss trends, and portfolio dynamics to ensure alignment with business strategies
• Supports various product strategic initiatives affecting multiple risk functions and lines of business to ensure company goals are met
• Participates in the development of database production processes and performance reports, using data mining and other advanced analytical techniques to aggregate data
• Support responses to ad-hoc requests for information from both internal and external parties
• Provides support on efforts to remediate data quality issues
• Assists with Helps to monitoring the outputs of controls and investigates alerts from the control checks

Overview of the Team

Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets. The role sits within the Prime Clearing Analytics and Data Services (PCADS) -  Counterparty Credit Risk (CCR) Limits Monitoring and Exposure Explains team, responsible for investigating the root cause of counterparty credit risk limit exceptions, notifying relevant stakeholders of findings, and escalating unapproved limit breaches through a Governance Forum. Our key stakeholders are Sales / Trading, Enterprise Credit, Enterprise Credit Risk, Technology, Audit, and Regulatory, and Reporting teams. 

Overview of the Role

• Perform in-depth daily analysis into the bank’s Counterparty Credit Risk (CCR) trading activity against credit limits or against restricted counterparties or with restricted products across all Lines of Business, on a global scale.
• Perform portfolio level exception analysis at the global and legal entity levels.
• Identify and explain key drivers of trading violations.
• Determine escalation of unapproved trades and raise to the relevant Credit Forums.
• Work directly with the Credit Risk Officers to assist them in using this analysis to make better limit utilization decisions.
• Raise issues with upstream data providers where necessary – along with quantifying impact.
• Work with the wider CCR Lines of Business, Enterprise Credit and Project Tech teams to identify and quantify system and trading limitations resulting from violation investigations and analysis.
• Perform longer term trend analysis across CCR portfolios to identify and remediate systemic themes.
• Assist in the production of communication materials for senior management, governing committees and regulatory bodies.
   

Required Qualifications:

• Master's degree (preferably in a quantitative field)
• Solid working experience (2 years+) in a related field (Market Risk, Middle Office, Counterparty Credit Risk)
• Broad financial product knowledge
• Experience in data analysis, with excellent research and analytical skills
• Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions
• Ability to multitask with excellent time management skills
• Sense of focus and rigor in the completion of deliverables
• Pro-active behavior with capacity to seize initiative

Desired Qualifications

• Experience in Front Office trade support
• Experience working with Sales and Trading
• Programming skills (Python, SQL, Tableau).
   

Skills:

• Attention to Detail
• Business Intelligence
• Data and Trend Analysis
• Risk Analytics
• Risk Management
• Adaptability
• Collaboration
• Continuous Improvement
• Data Visualization
• Project Management
• Business Acumen
• Issue Management
• Regulatory Relations
• Stakeholder Management
• Technical Documentation

Shift:

Hours Per Week: