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Global Markets Risk Manager
manager · Risk & Compliance
Job Description:
Job Title: Global Markets Risk Manager
Corporate Title: Up to Vice President
Location: London
Company Overview:
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!
Location Overview:
Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.
Role Description:
This job is responsible for the analysis, monitoring and reporting applicable market related risks taken within Global Commodities. Key responsibilities include analysis and reporting of market risk, stress testing, designing limit frameworks and interfacing with the trading desk and other risk and support groups (i.e., Compliance, Finance, Operations, etc.).
This position is in the Market Risk Management team covering Global Commodities trading desks. In addition to providing independent oversight of the market risks taken by trading desks. The market risk manager will assess a broad spectrum of risks, liaising with other risk functions as necessary, including operational, credit, and counterparty risks. This role requires close interaction with the trading desk and other risk and support groups (i.e. Finance, Quants, Technology, etc.). Product knowledge and quantitative skills are necessary.
Responsibilities:
Review trading portfolios and associated risk metrics. Report and monitor positions against market risk metrics and limits.
Liaise closely with trading desks to understand market trends in relation to portfolio changes.
Identify and analyse significant risks and summarize risk views for senior management to ensure they are kept informed of developments in the portfolio.
Analyse and model transactions, review and approve pricing and VaR models
Review and challenge risks related to new products, structured transactions and business strategies.
Perform stress tests to determine the circumstances under which the portfolio could incur material losses. Provide regular point of weakness and concentration risk analysis of the portfolio
Assist in ad-hoc risk related queries and projects, specific risk analysis, reports and analysis for regulators.
Ensure risks are fed to and captured appropriately by the Bank’s risk system and risk methodology. Assist the setup, configuration and implementation of new and upgraded risk management systems to help enhance the firm's capabilities.
What we are looking for:
Several years of Market Risk or front office experience with a good understanding of key risk metrics such as VaR and stress testing.
Proven finance or risk background with quantitative skills
Ability to communicate clearly and concisely with traders, senior management and other areas of the bank understanding the requirements of each group.
Ability to build good relationships while maintaining independence and negotiating with traders to enforce decisions.
Ability to multi-task, prioritize and meet deadlines without compromising on quality
Ability to understand and communicate more complex proposals for management review, requiring good oral and written skills
Problem solving skills and motivation to deliver in challenging fast paced environment
Desired Skills:
Global Risk Management experience
Benefits of working at Bank of America (UK):
At Bank of America, we strive to prioritise employees’ health and wellbeing – it’s what makes us a Great Place to Work.
Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
We offer 26-weeks paid maternity leave, 16-weeks paid paternity leave and inclusive family leave arrangements for working parents and carers including 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum
The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness, cycle to work etc.
Use of a flex fund to use towards benefits
Access to an emotional wellbeing helpline, and virtual GP services
Access to the Peppy App which provides 1:1 support, consultations and resources relating to men’s health, women’s health, fertility, menopause and pregnancy & parenthood
Access to a range of gyms, exercise classes and wellbeing Apps through Wellhub, including Headspace and Calm
Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area
Bank of America:
Good conduct and sound judgment is crucial to our long-term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
“We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religious or similar philosophical belief, political opinion, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.”
We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements