Global Markets Risk Manager
Company: Disability Solutions
Location: New York
Posted on: October 30, 2024
Job Description:
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. 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!Job 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.).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 companyMarket Risk Manager primarily covering FRTB deliverables
for various Line of Businesses (LoBs), such as Global Credit,
Mortgages, Rates, Equities, etc. Key responsibilities include (but
not limited to) the following:- Review and challenge FRTB
sensitivities (such as delta, vega and curvature) to ensure
completeness and accuracy, based on Front Line Unit (FLU)'s data
quality analysis and Market Risk Management's BAU expertise.-
Conduct trading desk level stress testing: --- Review desk level
vulnerabilities, illiquid, one-way and concentrated risks on a
quarterly basis and maintain a 'key risks' inventory for major LEs
at desk level --- Design custom scenarios for more complex
derivative / exotic desks to address their specific vulnerabilities
--- Enhance risk reports to include the recalculation of the
individual stress scenario loss amounts for these desks on a daily
basis- Calibrate and monitor FRTB sensitivities limits and
monitoring metrics for LoBsIn order to gain the expertise to be
able to handle FRTB deliverables, the role also needs to contribute
to managing BAU risk positions and performing quantitative and
qualitative analysis. Key components include:- Identifying,
managing, and communicating risk exposures- Risk reporting across a
broad range of audiences ranging from individual traders, to senior
management and regulators- Ensuring robust procedures to maintain
regulatory complianceThe market risk manager will additionally
assess a broad spectrum of risks, liaising with other risk
functions as necessary, including operational, credit, and
counterparty risks.Required Qualifications: There is no unique
background defining a successful Risk Manager. However, a
quantitative mind, natural curiosity, a desire to challenge the
status quo while searching for gaps and trying to see the big
picture are key requirements. One or more of the following
qualities would be beneficial:--- Previous experience as a Risk
Manager working directly with the Front Line and performing risk
analysis--- Strong quantitative and technical/programing skills---
Decent FRTB knowledge--- 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 prioritise
across several competing demands, meeting tight deadlines---
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
- Data and Trend Analysis
- Decision Making
- Oral Communications
- Presentation Skills
- Written Communications
- Active Listening
- Issue Management
- Monitoring, Surveillance, and Testing
- Regulatory Compliance
- Technical DocumentationShift:1st shift (United States of
America)Hours Per Week: 40Pay Transparency detailsUS - NY - New
York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and
benefits informationPay range$110,000.00 - $157,800.00 annualized
salary, offers to be determined based on experience, education and
skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.
Keywords: Disability Solutions, Bayonne , Global Markets Risk Manager, Executive , New York, New Jersey
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