at Bank of America in Chicago, Illinois, United States
Job Description
Risk Analysis Specialist II – Counterparty Credit Risk Analytics
Jersey City, New Jersey;Chicago, Illinois
Job Description:
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Overview of Global Risk Analytics
Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist II within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM). GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard. GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities.
Overview of the Team
Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets. The role sits within the Prime Clearing Analytics and Data Services (PCADS) – Counterparty Credit Risk Limits Monitoring and Exposure Explains team, that is responsible for (1) performing in-depth daily analysis into the bank’s Counterparty Credit Risk (CCR) trading activity against credit limits or against restricted counterparties or with restricted products across all Lines of Businesses; and for (2) explaining CCR exposure movement, quantifying issues impacting these exposures and working with the Credit Risk and Wholesale Credit Risk Officers to agree an action plan where this exposure change has breached risk appetite limits.
As a Risk Analysis Specialist II, your responsibilities will involve:
-Performing in-depth daily analysis into the bank’s counterparty credit risk (CCR) exposures and monitoring CCR exposure limits
-Identifying and explaining the key drivers of exposure levels and day on day movement
-Analyzing portfolios at the global and legal entity levels
-Working directly with the Credit Risk Officers to assist them in using this analysis to make better limit utilization decisions – liaising also with sales and trading as appropriate
-Raising issues with upstream data providers where necessary, and quantifying impact
-Working with the wider CCR model performance team to identify and quantify model limitations resulting from exposure analysis
-Performing longer term trend analysis across our CCR portfolios to identify systemic themes
-Working with the wider GRA global markets model performance team to leverage insight into significant market movements and how these are driving exposures
-Assisting in the production of communication materials for senior management, governing committees and regulatory bodies.
Required Education, Skills, and Experience
-Master degree and above (or equivalent), preferably in quantitative finance or a quantitative field
-Solid working experience (5 years +) in a related field (Market Risk, Middle Office, Counterparty Credit Risk)
-Broad financial product knowledge
-Experience in data analysis, with excellent research and analytical skills
-Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions
-Ability to multitask with excellent time management skills
-Sense of focus and rigor in the completion of deliverables
-Pro-active behavior with capacity to seize initiative
Desired Skills and Experience
-Experience in Front Office trade support
-Experience working with Sales and Trading
-Strong programming skills (Python, SQL, Tableau)
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
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