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Bank Of America Global Markets Risk Executive United States, New Jersey, Jersey City 1011262
Job Description:
Job Description:
A good understanding of the key risk drivers at product, business and firm-wide levels is required. The ability to communicate to Line of Business Risk Managers potential risks is required.
The candidate will consult with Line of Business Risk Managers to provide quantitative risk implications of regulatory changes and new product development. The role requires skill to evaluate tradeoffs of model precision with practical system capabilities to value engineer the implementation of market risk models to reflect changes in the business & regulatory environment. The role requires a flexible approach that can deal with problems that require pragmatic solutions and innovative thinking. Must be able to manage competing priorities and stakeholders to prioritize improvement efforts to drive accuracy, operational stability, and speed to market.
The candidate will lead a team that is in multiple time zones with varying degrees of experience and technical expertise. The role requires direct interaction with multiple regulatory groups both internal and external. Maintaining the control environment is paramount for success. Process and project management are a core responsibility including leading ~$1mm/year size change management projects.
• At least ten year’s work experience in Finance with a strong preference for candidates with a Market Risk background
• Master’s Degree or equivalent with emphasis in financial engineer or quantitative disciplines
• A thorough understanding of Market Risk models including Value at Risk, Stress Test models and related economic capital regulations is required. An advanced understanding of the mathematical principles underlier these risk models and how these principles are implemented and controlled in large scale risk systems is highly desirable
• Extensive history of conducting large scale time series market data analysis in the context of VaR modeling, covering all asset classes and products. A thorough knowledge across fixed income financial products including Equity, Commodity, FX, interest rate and credit products is required
• Experience in quantitative computer programming (Python, SQL) with practical application to financial time series a plus
• Advanced desktop technology skills such as Excel and PowerPoint are a must (Bloomberg and Access skills are a plus but not required)
• Excellent verbal and written communication skills, including well-developed presentation skills.
• Management experience for teams across regions, of ten or more people.
• Talent Development
• Production mindset to design process and controls to deliver under tight tightlines in a heavily audited area
• Analytical and process design skills to proactively monitor and remediate market data issues used in production risk measurement and reporting
• Control mindset to ensure the completeness, validity, and accuracy of market data daily. Work with business data users to define the use of data within various risk systems
• Collaboration skills especially with technology (Business Analysts, Project Managers, Developers)
• Participate in user acceptance testing of data control processes
• Business partnering skills with Reporting, Back Testing, Enterprise Stress Testing and various Technology groups to ensure effective controls over market data for GM
• Experience working with model risk and risk analysts to implement required changes and produce impact analysis for review
• Change management
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