Global Markets Sr Risk Manager - Mortgages & Securitized Products (VP/Director)

Bank of America; New York (NY); On-site; USD 138,000 - 216,000; Full time

Job summary

An established industry player is seeking a seasoned Market Risk Manager to oversee risk management functions. This role involves monitoring market risk policies, analyzing complex client solutions, and liaising with senior leadership. The ideal candidate will possess over 10 years of experience in market risk, a strong finance background, and excellent analytical skills. Join a diverse and inclusive workplace that values growth and collaboration, and make a significant impact in a fast-paced environment. Embrace the opportunity to develop your career while contributing to the financial well-being of clients and communities.

Benefits

Industry-leading benefits

Paid time off

Discretionary incentive eligibility

Support resources for employees

Qualifications

• 10+ years of Market Risk or front office experience required.
• Strong quantitative skills and finance background essential.

Responsibilities

• Oversee market risk management and ensure adherence to policies.
• Analyze complex client solutions and negotiate terms.

Skills

Analytical Thinking

Critical Thinking

Portfolio Analysis

Risk Analytics

Collaboration

Decision Making

Oral Communications

Presentation Skills

Written Communications

Issue Management

Monitoring, Surveillance, and Testing

Regulatory Compliance

Technical Documentation

Trading Strategy

Education

Bachelor's degree in Finance or related field

Master's degree in Finance or related field

Tools

Microsoft Excel

VBA

MS Access

Job description

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. 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!

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 remediation's 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.
• Evaluating new transactions in the lending books that may in instances involve trading book backstops.
• Analyze complex client solutions while negotiating/resolving structure and terms with the business to ensure best outcome for the firm.
• Strategically applying analytical thinking and subject matter expertise of structured products and capital markets to guide front line units through transaction life cycle, including adequacy of securitization capital treatment.
• Identify and monitor emerging themes and concentration build-ups across the existing portfolio.
• Liaising with senior leadership in both risk and business on strategic direction.

Required Qualifications:

• 10+ years of Market Risk or front office experience with a good understanding of key risk metrics such as VaR, Stress testing etc.
• Good understanding of real estate and credit markets.
• Proven finance or risk background with quantitative skills.
• Ability to build good relationships whilst maintaining independence, handle disputes, negotiate with traders and enforce difficult decisions.
• Ability to communicate clearly and concisely with traders, senior management and other areas of the bank understanding the requirements of each group.
• The candidate should have a good understanding of IT systems and their development process.
• Ability to multi-task and priorities, to meet deadlines without compromising on quality.
• Ability to understand and communicate more complex proposals for management review, requiring good oral and written skills.
• Excellent problem solving skills.

Desired Qualifications:

• Understanding of regulatory environment affecting Finance industry and the impact on market risk.
• Experience working within Real Estate or Credit market risk.
• Motivation to deliver in challenging fast paced environment.
• Familiarity with Microsoft Excel essential, VBA and MS Access desirable.

Skills:

• Analytical Thinking
• Critical Thinking
• Portfolio Analysis
• Risk 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 range: $138,000.00 - $215,500.00 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.