Global Markets Risk Sr. Manager

Bank of America; New York (NY); On-site; USD 139,000 - 213,000; Full time

Benefits offered by this job

Discretionary incentive eligible

Industry-leading benefits

Job summary

Bank of America in New York seeks a Market Risk Manager for the Rates desk to oversee market risk exposures, model risk, and risk governance across exotic products. The role interfaces with trading, compliance, finance and operations to monitor, test, and report risk in line with a global risk framework.

Required is a strong academic background, solid knowledge of financial markets, and experience in risk analysis with front-line collaboration.

Qualifications

• Solid academic background, possibly with a postgraduate qualification.
• Good people skills with strong written and verbal communication.
• Knowledge of financial markets and macroeconomics.
• Understanding of financial derivatives and rates exotic modelling.
• Ability to multi-task, prioritize, and meet tight deadlines.
• Experience as a Risk Manager with front line interaction is desirable.

Responsibilities

• Oversees market risk exposures, mitigation strategies, and risk limits in line with appetite and regulatory requirements.
• Oversees risk requests, breach remediations and provides risk challenges for front line units.
• Develops market risk coverage plans, monitors, tests, and reports for specific products.
• Liaises with businesses to understand market trends and portfolio impacts, using stress testing knowledge.
• Ensures adherence to company policies and risk governance.

Skills

Analytical Thinking

Critical Thinking

Portfolio Analysis

Risk Analytics

Collaboration

Decision Making

Oral Communications

Written Communications

Regulatory Compliance

Trading Strategy

Education

Postgraduate qualification

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 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:

This job is responsible for the local and/or global management and direction of applicable market related risk management functions within a specific product area. Key responsibilities include monitoring and adhering to market risk management policies, procedures, and standards, and implementing new/complex product approval processes, 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:

• Provides oversight of identification of market risk exposures and mitigation strategies and resolutions in accordance with the bank's risk appetite and risk limits identified, as well as regulatory requirements, as applicable
• Provides oversight of risk requests, breach remediations and providing risk effective challenges for front line units
• Oversees development of market risk coverage plans, execution of monitoring, testing and risk assessments, and market risk reporting for specific products
• 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 company

Managerial Responsibilities:

• Opportunity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company Great Place to Work goals.
• Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.
• Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.
• Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, elevate and debate issues.
• People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.
• Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.
• Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.
• Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

This position is in the Market Risk Management team for a risk manager within the Rates In Addition to providing independent oversight of the market risks taken by the US Rates Non-Linear business, the market risk manager will assess a broad spectrum of risks for the desk, liaising with other functions as necessary, including model developers, operational, credit, and counterparty risks. The Director must bring deep market expertise and knowledge of non-linear rates derivatives, and extensive experience evaluating and challenging complex structured and financing transactions across different exotic payoffs. The role carries direct accountability for identifying, evaluating, and escalating material risks; enforcing the firm’s risk appetite; and driving a consistently high standard of risk governance across the rates exotic franchise.

Required Qualifications:

• 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 rates exotic modelling
• Ability to multi-task and prioritize across several competing demands, meeting tight deadlines
• Previous experience as a Risk Manager working directly with the Front Line and performing risk analysis is desirable

Desired Qualifications:

• 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 AnalysisRisk Analytics
• Collaboration
• Decision Making
• Oral Communications Presentation Skills
• Written Communications Issue Management Monitoring, Surveillance, and Testing Regulatory Compliance Technical Documentation Trading Strategy

Shift: 1st shift (United States of America)

Hours Per Week: 40

Pay Transparency details US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range $139,300.00 - $212,500.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This 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.

Benefits This 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.

Privacy Statement: https://careers.bankofamerica.com/en-us/privacy-notice

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!

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Pay Transparency

https://careers.bankofamerica.com/en-us/pay-transparency