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Bank Of America Enterprise Financial Risk Manager United States, North Carolina, Charlotte 749396876
Job Description
This job is responsible for the identification, measurement, monitoring, controlling, reporting, and analysis of applicable financial risks across the company, including markets risk (interest rate risk and price risk in the CFO managed ALM portfolio), liquidity risk, and capital risk. Cross functional risks related to recovery and resolution planning, climate risks, and end to end risk oversight of the CFO group may also be in scope for the role.
Areas of Focus across the financial risk disciplines include the following:
Providing risk oversight and advice and counsel to front line units
Ability to recognize all risk categories and bringing appropriate risk expertise as needed
Accountable for conducting execution of BAC risk framework activities commensurate with liquidity risk, interest rate risk and price risk, capital risk, and responsibilities of a CRO vertical coverage team
Key responsibilities for the role may include 1 or more of the following financial risk disciplines:
Interest Rate Risk and Price Risk
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.)
Review and Challenge of IRR measurements (Independent analysis of 1LOD proposal based on structured criteria, e.g., impact to risk metrics, sensitivity testing, challenger model, regulatory guidance, supporting analysis and justification)
Price Risk data validation and controls
Capital Risk Management
Capital Forecasting/Adequacy - enhance review and challenge of end-to-end capital forecasting and adequacy process, including Risk ID and scenario design
SLR/Numerator/TLAC interpretations, rule compliance and calculator change control reviews
Maintain ECRM operating model and prioritization. Review and challenge of all capital-related Plans, Policies, Governance documents and Committee materials
Wholesale/Retail spot RWA and manual adjustment testing, interpretations, rule compliance and calculator change control reviews
Counterparty/securities spot RWA and manual adjustment testing
Market risk RWA and manual adjustment testing, as outlined in E&Y recommendations.
SLR/Numerator/TLAC calculations and manual adjustment testing, as outlined.
Liquidity Risk Management and/or Recovery and Resolution Planning (RRP)
Review and Challenge of internal liquidity stress testing (ILST) models and related assumptions, FLU new products, Liquidity Forecasting, Funding Plans, Risk ID Inventory, etc.
Daily limit monitoring and resolution of issues; Limit monitoring is a critical function requiring commentary that may go to regulators or communicated to management stakeholders
Manage ILST scenario narratives and regularly review the calibration and completeness of existing ILST narratives
Create liquidity scenario customizations to support recovery planning, resolution planning, climate, and other enterprise-wide scenarios. Design exploratory liquidity scenarios to measure impacts of risks not captured in the existing ILST scenarios
Recovery and Resolution Planning - Maintain working knowledge of related regulations in the U.S., Monitor RRP related triggers and metrics, Identify, calibrate, monitor, and report early warning indicators, Lead Risk coverage of GRRP activities in business as usual, regulatory exam meetings and management forums.
Collaborate across Risk to drive consistent review of RRP related activities, appropriate Risk engagement and challenge documentation
Assess, measure, monitor the potential liquidity risks driven by climate change and climate related events
Analytics and Reporting
Works with senior management and other team members to implement enhancements to reporting and analysis packages for senior management forums and committees plus the implementation of improved reporting and data mining tools and metrics
Ensures that the team produces regulatory and economic risk capital reports and data inputs respectively
Produces regularly scheduled reports including stress and back testing and responds to ad hoc reporting and analysis requests
May manage a small team of analysts or own key reports and or processes
Governance and Business Controls
Establish and oversee the risk management governance structures
Establish risk management policies, limits, standards, controls, metrics, and thresholds within the defined corporate standards
Day to Day Operations and Business Controls, including single process inventory, expense management, etc.
Desired Skills
Strong Excel
Analytical Thinking
Critical Thinking
Portfolio Analysis
Risk Analytics
Data & Trend Analysis
Decision Making
Oral Communications
Presentation Skills
Written Communications
Active Listening
Issue Management
Monitoring, Surveillance & Testing
Regulatory Compliance
Technical Documentation
Quantitative skills with strong Excel
Attention to Detail
Data Quality Management
Data Visualization
Prioritization
Reporting
Controls Management
Process Design
Regulatory Relations
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