Job Description:
About Us
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.
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Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
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 processes integral to Counterparty Credit Risk and Portfolio Management (CCRPM) at Bank of America such as Reporting, Portfolio Analysis, Limits Governance and Utilization reporting.
The team is responsible for measuring counterparty credit risk (CCR) for all lines of businesses in the Markets division covering all traded products (fixed income, currency, commodities, equities).
The team will assist in constructing counterparty credit risk portfolio reviews along with specialized deep dives on specific counterparties. The team will present their analysis to senior management, including Market Risk, Wholesale Credit, and Enterprise Credit, as well as Front Office Trading and Sales team. In this capacity, the team will need to leverage their expertise in counterparty credit risk management and traded products to highlight areas that warrant additional investigation, monitoring and discussion. The analysis will encompass a range of counterparty exposure management techniques such as potential future exposure, stress testing, sensitivity analysis, wrong way risk, and CVA.
Additionally, the team will assist in the managing of counterparty concentration limits at the counterparty level across asset classes. The team member will be responsible for maintaining strong risk discipline and demonstrated ability to working across a variety of functions including trading, sales and credit risk.
The successful candidate will need to have a mix of technical skills and the ability to communicate with a wide audience both written and orally.
Responsibilities
- Participating in the production of routine including review and analysis of report output
- Managing several critical reporting and governance routines, such as regulatory filings and board and committee input preparation
- Fielding ad-hoc questions on the report from regulators, internal senior risk leaders, and audit partners
- Developing new materials or analyses as needed
- Automate processes where needed via Python coding, excel, or other similar
- Maintain and develop documentation on processes where needed
- Liaising with technology and data partners to correct issues discovered as part of the analysis process
- Ensuring a strong control environment and participating in the execution of control routines
- Maintain and develop documentation on processes where needed
Requirements
Education
- Bachelors/Masters degree in Engineering, Commerce, CA, MBA
Certifications If Any
- CFA, FRM etc. will be an added advantage
Experience Range
- 5 - 7 years
Foundational skills
- Experience in a trading / market risk related field
- Solid understanding of derivative products with broad knowledge across asset classes (FX, rates, equity, and credit).
- Knowledge about counterparty risk measurement techniques on derivatives and financing transactions
- 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
- 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
Work Timings
- 12 Noon to 9 pm IST
Job Location
- Gurugram, Hyderabad & Mumbai