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About the Role
Bank of America is seeking a professional for the Global Markets Risk team responsible for independent market risk oversight of the Counterparty Portfolio Management (CPM) business. This role involves assessing portfolio risks, analyzing market developments, and delivering insights to support effective risk management and informed business decisions. It offers an opportunity to develop expertise in XVA products, gain exposure to complex transactions, and build a foundation in market risk management.
Responsibilities
- Identifies and monitors market risk exposure and develops mitigation strategies and resolutions in accordance with the bank's risk appetite and risk limits, as well as regulatory requirements.
- Manages risk requests, breach remediations and provides risk effective challenges for front line units.
- Sets managing risk parameters and guardrails for market risk, while ensuring adherence to risk appetite and limits, and actively designs risk scenarios to implement decisions.
- Develops market risk coverage plans, oversees execution of monitoring, testing and risk assessments, conducts analysis and develops market risk reporting for specific products and communicates changes to senior management.
- 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.
- Support the independent oversight of market risks across the XVA/CPM business.
- Analyze portfolio exposures, risk metrics, and market developments to identify emerging risks and concentrations.
- Perform scenario analysis, stress testing, and other quantitative assessments to evaluate portfolio vulnerabilities and potential risk impacts.
- Monitor risk positions against established limits, escalating and investigating exceptions as appropriate.
- Prepare risk reporting and presentations for senior management, highlighting key portfolio trends and market developments.
- Partner with Trading, Finance, Quantitative Analytics, and Technology teams to understand evolving business activities and associated risks.
- Support new product reviews, risk assessments, and strategic initiatives from a market risk perspective.
- Contribute to enhancements of risk reporting, analytics, and risk management infrastructure.
- Assist with regulatory requests, risk reviews, and other ad hoc analytical projects.
Requirements
- Bachelor's degree in Finance, Economics, Mathematics, Engineering, Statistics, or a related quantitative field.
- 1-5 years of experience in Market Risk, Credit Risk, Capital Markets, Structured Finance, Trading Support, or a related function.
- Strong analytical and problem-solving skills with the ability to evaluate complex financial products and large datasets.
- Knowledge of fixed income, mortgage-backed securities, structured products, or securitized markets is preferred.
- Experience with Excel and data analysis tools; familiarity with Python, SQL, Tableau, or similar technologies is a plus.
- Strong written and verbal communication skills with the ability to clearly articulate risk concepts and analytical findings.
- Intellectual curiosity and a strong interest in financial markets.
- A proactive mindset and willingness to challenge assumptions through data-driven analysis.
- The ability to synthesize complex information into clear, actionable insights.
- Strong attention to detail and a collaborative approach to problem solving.
- A desire to develop expertise in a dynamic and complex businesses.
Skills
- Analytical Thinking
- Critical Thinking
- Portfolio Analysis
- Risk Analytics
- Data and Trend Analysis
- Decision Making
- Oral Communications
- Presentation Skills
- Written Communications
- Active Listening
- Issue Management
- Monitoring, Surveillance, and Testing
- Regulatory Compliance
- Technical Documentation
Location
- ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)
Work Type
- In-office culture
- 40 hours per week
Experience Level
- 1-5 years of experience
Education Level
- Bachelor's degree in Finance, Economics, Mathematics, Engineering, Statistics, or a related quantitative field.
Salary/Compensations
- $110,000.00 - $158,000.00 annualized salary
Benefits
- Industry-leading benefits
- Access to paid time off
- Resources and support for employees
- Discretionary incentive eligible
About the Company
- At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.
- We drive Responsible Growth and deliver for our clients, teammates, communities and shareholders every day.
- 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.
- We value the unique perspectives individuals bring from all backgrounds and career paths.
- Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development.
- At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact.