The role is for a market risk manager covering the Commodities trading business at Bank of America. The risk manager is responsible for making themselves aware of all significant exposures, and for performing quantitative and qualitative analysis of all material positions and risks. He/she will assess a broad spectrum of risks, predominantly market risks but also operational, credit, and counterparty risks, should these types of risks exist. The successful candidate will join BofA's Commodities risk management team, with colleagues based primarily in New York and London.
Primary job responsibilities include:
• Identify and analyze all significant exposure across the Commodities line of business, regionally and globally, and ensure that senior risk management is kept informed about the exposure.
• Monitor and report positions against risk metrics and limits. Liaise closely with the Commodities front office to detail exposure and risk limits. Challenge the business if there are any limit breaches and overages.
• Close liaison with other support and control functions to ensure a holistic approach to risk management and risk control
• Assess the commodity and global macro environment to identify upcoming developments and events (e. g. changes in commodity supply/demand fundamentals, macroeconomic changes) that may impact the desks’ positions and p&l. Design hypothetical stress testing scenarios to determine possible portfolio losses. Communicate scenario results with the desks and help improve the books’ risk profiles, if necessary.
• Help enhance the risk infrastructure and the design and production of risk reports.
• Regulatory risk reporting such as CCAR, point-of-weakness assessment, and internal stress testing procedures
• Review risks related to non-standard or structured transactions and new products. Liaise closely with the business and support functions to determine the size of risks, and ensure they are within the firm’s risk appetite.
• Opportunity to work on key projects for the market risk organization with the front office and other support partner groups; represent market risk in cross function projects for larger scale system changes and migration
• Contribute to the development of the global risk team and to the positive work environment
The candidate must have a keen interest in financial markets and risk management and should have the following attributes:
• Bachelor or graduate degree in Finance, Mathematics or similar discipline
• Excellent knowledge of derivative products and developed understanding of portfolio risk dynamics
• 2-3 years’ work experience in related fields such as risk management and/or front office
• Good understanding of macroeconomic and political developments and their impact on financial markets; good understanding of interdependencies between different asset classes, especially how these may change during a market crisis
• Strong communication skills including impeccable writing skills for externally used documentation
• Excellent analytical skills
• Advanced desktop technology skills including Excel and VBA. Ability to quickly learn new programs and applications
• The team is located on the trading floor, so the candidate must have the ability to multitask in a dynamic environment. The successful candidate must be able to build strong relationships with the front office while maintaining independence. He/she must be able to handle disputes, negotiate with traders, and uphold risk frameworks.
• Highly motivated individual that fully understands the demands of a market risk professional
• Working knowledge of commodity products and markets
Posting Date: 01/03/2019
New York, NY, BANK OF AMERICA TOWER, ONE BRYANT PARK,
- United States
Travel: Yes, 5% of the time
Full / Part-time: Full time
Hours Per Week: 40
Shift: 1st shift