Global Markets Risk Manager

Bank of America; Greater London; On-site; GBP 90,000 - 140,000; Full time

Benefits offered by this job

Private healthcare

Pension plan

Life assurance

Parental leave

Flexible benefits

Job summary

Bank of America in London is seeking a Global Markets Risk Manager to oversee end-to-end Illiquid Traded Risk quantification and monitoring. The role covers risk modelling, governance, and regulatory reporting, with collaboration across Risk, Finance and Model Risk teams.

The right candidate will have a strong quantitative background, experience in risk management modelling or validation, and excellent communication skills to influence senior stakeholders in a fast-paced environment.

Qualifications

• Postgraduate level quantitative background required.
• Experience in risk management modelling and governance.
• Ability to analyze complex risk concepts and communicate clearly.

Responsibilities

• Own the delivery of Illiquid Traded Risk monitoring and quantification for capital forecasting (CCAR/ICAAP).
• Coordinate regulatory deliverables and governance forums (EMA Special Risk, Global Special Risk Forums).
• Provide risk analysis and explanatory commentary to key stakeholders and regulators.
• Support documentation, validation, and monitoring of Pillar 2A models.
• Collaborate with Market Risk, Global Markets Risk Analytics, and other teams to meet IMA obligations.
• Support Risk Manager sign-off within RNIV framework and maintain process documentation.
• Engage with stakeholders across Finance, Enterprise Capital Management and Independent Model Risk Management.

Skills

Quantitative risk management

Model development

Model validation

Market risk knowledge

Analytical thinking

Communication

Education

Postgraduate qualification in quantitative discipline

Job description

Job Description: Job Title: Global Markets Risk Manager Corporate Title: Up to Assistant Vice President Location: London

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:

The key responsibility of this role is to support and oversee the end-to-end Illiquid Traded Risk quantification and monitoring. In addition, the role will support activities related to market risk modelling ranging from quantitative tasks to governance routines.

Responsibilities:

• Own the delivery of Illiquid Traded Risk monitoring and quantification to support capital forecasting, including CCAR and ICAAP exercises.
• Coordinate regulatory deliverables and associated governance forums, including EMA Special Risk and Global Special Risk Forums.
• Provide risk analysis and explanatory commentary to key stakeholders and respond to ad hoc queries from senior management and regulators.
• Support the documentation, validation, and ongoing performance monitoring of Pillar 2A models.
• Partner with Legal Entity Risk teams to meet Internal Models Approach (IMA) obligations through support of the Market Risk Model Change process, model performance monitoring, and associated governance activities.
• Support Risk Manager sign-off within the Risk Not in VaR (RNIV) framework.
• Maintain process documentation within the Single Process Inventory as relevant.
• Collaborate closely with stakeholders across Market Risk, Global Markets Risk Analytics, Independent Model Risk Management, Finance, and Enterprise Capital Management.

Required Skills:

• Strong academic background, preferably including a postgraduate qualification in a quantitative discipline.
• Previous experience in a quantitative risk management role, such as model development, model validation, or market risk management, is desirable.
• Knowledge of financial markets, with a solid understanding of a broad range of asset classes.
• Understanding of market risk modelling methodologies and model governance frameworks.
• Strong analytical and problem-solving skills with the ability to interpret and communicate complex risk concepts.
• Ability to manage multiple priorities and deliver high-quality work within tight deadlines.
• Excellent written and verbal communication skills, with the ability to engage effectively with stakeholders at all levels.
• Effective team player with a collaborative approach.
• Intellectual curiosity and a willingness to challenge existing practices constructively.
• Highly motivated, with a strong desire to learn and develop.
• Demonstrates initiative, ownership, and accountability.

Skills that will help:

• Global Risk Management experience

Benefits of working at Bank of America (UK):

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner.
• Competitive pension plan, life assurance, and group income protection cover if you become unable to work because of a disability or health reasons.
• 26-weeks paid maternity leave, 16-weeks paid paternity leave and inclusive family leave arrangements for working parents and carers including 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum
• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a well-being account, travel insurance, critical illness, cycle to work etc.
• Use of a flex fund to use towards benefits
• Access to an emotional wellbeing helpline, and virtual GP services
• Access to the Peppy App which provides 1:1 support, consultations and resources relating to men’s health, women’s health, fertility, menopause, and pregnancy & parenthood.
• Access to a range of gyms, exercise classes, and wellbeing Apps through Wellhub, including Headspace and Calm
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area.

Bank of America: Good conduct and sound judgment is crucial to our long-term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well. We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience. We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. experience 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! Partnering Locally Learn about some of the ways Bank of America is making a difference in the communities we serve. Global Impact Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates. Opportunity and Inclusion Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success. Our Values Learn about our four values that represent what we believe.