Global Markets 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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

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 the local and/or global management and direction of applicable market related risk management functions within a specific product area. Key responsibilities include monitoring and adhering to market risk management policies, procedures, and standards, and implementing new/complex product approval processes, 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.).

Responsibilities:

• Provides oversight of identification of market risk exposures and mitigation strategies and resolutions in accordance with the bank's risk appetite and risk limits identified, as well as regulatory requirements, as applicable

• Provides oversight of risk requests, breach remediations and providing risk effective challenges for front line units

• Oversees development of market risk coverage plans, execution of monitoring, testing and risk assessments, and market risk reporting for specific products

• 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

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

• Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.

• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.

• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.

• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.

• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.

• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.

• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.

• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

This position is in the Market Risk Management team for a risk manager within the Rates In addition to providing independent oversight of the market risks taken by the US Rates Non-Linear business, the market risk manager will assess a broad spectrum of risks for the desk, liaising with other functions as necessary, including model developers, operational, credit, and counterparty risks. The Director must bring deep market expertise and knowledge of non-linear rates derivatives, and extensive experience evaluating and challenging complex structured and financing transactions across different exotic payoffs.

The role carries direct accountability for identifying, evaluating, and escalating material risks; enforcing the firm’s risk appetite; and driving a consistently high standard of risk governance across the rates exotic franchise.
 

Required Qualifications:

• 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 rates exotic modelling

• Ability to multi-task and prioritize across several competing demands, meeting tight deadlines

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

Desired Qualifications:

• Effective team player

• Intellectual curiosity

• Excellent problem-solving skills

• Highly motivated with the drive and potential to learn from others 

Skills:

• Analytical Thinking

• Critical Thinking

• Portfolio Analysis

• Risk Analytics

• Collaboration

• Decision Making

• Oral Communications

• Presentation Skills

• Written Communications

• Issue Management

• Monitoring, Surveillance, and Testing

• Regulatory Compliance

• Technical Documentation

• Trading Strategy

Shift:

Hours Per Week: