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!
Process Overview*
Market Risk management serves as independent risk oversight of the Firm’s trading activities across the various trading desks and trading portfolios. The Global Market Risk Portfolio Analysis team within Market Risk is responsible for the implementation and management of cross-product processes and analysis to support the Global Markets business and senior Risk management.
Job Description*
The team in India will support a broad set up of work in conjunction with employees located in Europe and the US. These workstreams include critical central process integral to Market Risk management at Bank of America, such as Reporting, VaR Analysis, Limits, and Stress Testing. The position is to be a risk manager to cover various asset classes & LOBs.
Responsibilities*
- Identify and analyse all significant risks across the line of businesses and ensure Senior Management are kept informed. Daily Risk/VaR Sign offs, Reporting, Limits management.
- Liaising closely with the business and other support functions to ensure risks are within firm’s risk appetite and correctly captured.
- Identify risk concentration and determine the circumstances under which the business portfolio could incur material losses.
- Report and monitor positions against market risk metrics and limits. Liaise closely with the business to detail any overages and set limits.
- Drive regulatory projects working closely with other functions like Quants, Market Data etc. and regularly apprise updates to Senior management.
- Assist in the setup, configuration and implementation of new and upgraded risk management systems.
- Validate and produce information that is distributed to the relevant regulators.
- Assist in ad-hoc risk related queries, drill down analysis, specific risk analysis, VaR and risk trend analysis, reports and analysis for regulators.
- Represent the market risk function in cross function projects – migration and larger scale system changes.
Requirements*
- Education*
- Bachelors/Masters/Top tier – Engineering, MBA, BCom, CA etc.
- Certifications If Any
- CFA, FRM etc. will be an added advantage
- Foundational skills*
- Experience in a trading / market risk related field with a strong focus in Risk Management of multiple asset classes.
- Intellectually curious with the ability to investigate and develop root cause analysis for portfolio changes
- Experience working with large data sets
- Experience with Python or other similar languages
- Experience with Tableau, Alteryx or other similar tools
- High level of proficiency with Microsoft Excel
- Adept at communication with ability to influence co-workers across our global team and all levels of the organization including escalation of issues
- Ability to aggregate and synthesize complex data from multiple sources
- High level of attention to detail
- Desired skills*
- Effective time management skills, with the ability to manage multiple high priority deliverables simultaneously
- Experience and understanding of common market risk metrics like Value at Risk (VaR)
- Experience with regulatory reporting, regulatory exams, and/or audit
- Experience with Projects related to Regulatory Capital model (FRTB).
Work Timings*
12 Noon to 9 pm IST
Job Location*
Gurugram, Hyderabad & Mumbai