What are the responsibilities and job description for the EFR Global Markets Risk Manager position at Bank of America?
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 is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Department Overview:
Enterprise Financial Risk (EFR) seeks to deliver effective independent risk management of the activities and processes associated with managing the Company’s capital, liquidity and interest rate risks, including price risk in the CFO managed securities portfolio. As the Chief Risk Officer (CRO) function covering the Chief Financial Officer (CFO) Group, we also bring together a holistic point of view across all seven risk types for the Company’s CFO.
The team helps Bank of America grow responsibly through developing our teammates, promoting a diverse and inclusive culture, and approaching our work with intellectual curiosity. EFR delivers its mission through a steadfast commitment to its values: cultivating diversity of thought and valuing different perspectives and experiences; promoting learning, fostering relationships and creativity; developing talent, advancing careers, and creating leaders within Global Risk Management and across the company. Our goal is to ensure that a healthy and sustainable liquidity, capital, and interest rate risk (IRR) profile is maintained through baseline economic scenarios, as well as during times of market and idiosyncratic stress.
EFR Team / Division: Interest Rate Risk and CFO Price Risk
The EFR Interest Rate Risk and CFO Price Risk team is responsible for oversight of the firm’s overall Interest Rate Risk framework, the management of Interest Rate Risk through the ALM securities portfolio, and any Price Risk created through hedging activities performed by the CFO organization.
Role Summary:
The Interest Rate Risk and CFO Price Risk team under the Enterprise Financial Risk group within Global Risk Management is looking for a risk analyst responsible for independent risk oversight of the firm’s Interest Rate Risk measurement processes as well as how the firm uses the Asset Liability Management securities and derivatives portfolio to manage Interest Rate Risk. This role will involve reviewing and challenging the interest rate risk measurement processes through our internal Earnings at Risk (EaR)/Net Interest Income (NII) and Economic Value of Equity (EVE) calculations. Through this role, the candidate will need to develop a strong understanding of how interest rates will impact the earnings and cash flows associated with all positions on the company’s balance sheet including both LOB generated positions (e.g. deposits and loans) as well as securities and derivatives used by the CFO organization to manage our firm’s Interest Rate Risk. Key responsibilities will include reviewing and challenging all critical models and assumptions within the firm’s Interest Rate Risk calculation framework.
Required Skills:
1st shift (United States of America)
Hours Per Week:
40
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 is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Department Overview:
Enterprise Financial Risk (EFR) seeks to deliver effective independent risk management of the activities and processes associated with managing the Company’s capital, liquidity and interest rate risks, including price risk in the CFO managed securities portfolio. As the Chief Risk Officer (CRO) function covering the Chief Financial Officer (CFO) Group, we also bring together a holistic point of view across all seven risk types for the Company’s CFO.
The team helps Bank of America grow responsibly through developing our teammates, promoting a diverse and inclusive culture, and approaching our work with intellectual curiosity. EFR delivers its mission through a steadfast commitment to its values: cultivating diversity of thought and valuing different perspectives and experiences; promoting learning, fostering relationships and creativity; developing talent, advancing careers, and creating leaders within Global Risk Management and across the company. Our goal is to ensure that a healthy and sustainable liquidity, capital, and interest rate risk (IRR) profile is maintained through baseline economic scenarios, as well as during times of market and idiosyncratic stress.
EFR Team / Division: Interest Rate Risk and CFO Price Risk
The EFR Interest Rate Risk and CFO Price Risk team is responsible for oversight of the firm’s overall Interest Rate Risk framework, the management of Interest Rate Risk through the ALM securities portfolio, and any Price Risk created through hedging activities performed by the CFO organization.
Role Summary:
The Interest Rate Risk and CFO Price Risk team under the Enterprise Financial Risk group within Global Risk Management is looking for a risk analyst responsible for independent risk oversight of the firm’s Interest Rate Risk measurement processes as well as how the firm uses the Asset Liability Management securities and derivatives portfolio to manage Interest Rate Risk. This role will involve reviewing and challenging the interest rate risk measurement processes through our internal Earnings at Risk (EaR)/Net Interest Income (NII) and Economic Value of Equity (EVE) calculations. Through this role, the candidate will need to develop a strong understanding of how interest rates will impact the earnings and cash flows associated with all positions on the company’s balance sheet including both LOB generated positions (e.g. deposits and loans) as well as securities and derivatives used by the CFO organization to manage our firm’s Interest Rate Risk. Key responsibilities will include reviewing and challenging all critical models and assumptions within the firm’s Interest Rate Risk calculation framework.
Required Skills:
- Background in Finance, Engineering, Math, Statistics or Computer Science
- Familiarity with industry standard Interest Rate Risk measures such as Earnings at Risk (EaR) and Economic Value of Equity (EVE)
- Experience with duration modeling approaches for banking products such as loans and deposits as well as traded products such as mortgage backed securities
- Ability to communicate effectively with senior stakeholders and independently lead initiatives
- Understanding of implications associated with security and derivative accounting elections
- Experience with Bloomberg, Python and/or SQL
1st shift (United States of America)
Hours Per Week:
40
