Enterprise Financial Risk Capital Markets Risk Sr. Specialist

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Enterprise Financial Risk (EFR) 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 opportunity and an 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; and 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.

Department Overview:
Enterprise Capital Risk Management (ECRM) is a department within Enterprise Financial Risk (EFR). This group is responsible for providing an independent assessment of Bank of America’s Capital adequacy and the risk to our capital position, as described within BAC’s Risk Framework. The department’s aim is to support Bank of America’s purpose in making financial lives better through responsible growth. This is accomplished by providing an independent perspective on the effective utilization of Bank of America’s Capital resources and ensuring we understand all the risks that could impact our Capital resources. The goal of the department is that a healthy and sustainable Capital profile is maintained through a business-as-usual environment and also during times of stress.

Role Summary:
Operating within BAC’s Risk Framework, understand and drive all components of the end-to-end Capital/Capital Risk management process/program for the Enterprise. As a Risk horizontal team, it is our role to ensure the Enterprise is provided and adheres to our Capital Management policy and any resultant standards and guidance. Key components of the Capital/Capital Risk Management program include appropriate risk identification across the 8 lines of business and legal entities, establishment of effective forecasting and stress testing processes across a range of scenarios, and establishment of risk monitoring processes across the 8 lines of business and legal entities, including the review and challenge of Board and Management Level Risk Appetite Limits for our Enterprise and material subsidiaries. In addition to our key Risk Framework responsibilities, ECRM is responsible for completing our independent risk management mandate including ensuring the Company’s capital calculations (spot and forecasted) are appropriate, including any changes to the calculations, up to and including Basel 3 Endgame.

Key Responsibilities:

• Review and challenge key capital management activities, including Fundamental Review of the Trading Book (FRTB) and Basel 3 market risk rule implementation

• Review and challenge market risk RWA models, methodologies and results, including analyzing key drivers and changes

• Support EFR coverage of by executing capital calculation testing and performing review and challenge of regulatory rule interpretations and rule compliance documentation

• Develop and demonstrate acumen for the identification of capital risks and mitigants (including market and economic environment and connectivity to other risk stripes)

• Coordinate and conduct execution of risk framework activities that are the responsibility of EFR, including but not limited to independent review and risk assessment of front line owned processes (e.g. capital calculation, capital forecasting, etc.)

• Conduct and ensure appropriate and adequate documentation for all independent risk reviews and risk points of view, including appropriate escalation and communication to Senior Management

• Understand and document the capital impacts from new products and new transactions

• Support corporate-wide risk related initiatives, including regulatory change

• Enhance the Risk landscape, by ensuring our balance sheet and business model is appropriately stressed across a variety of scenarios, baseline to bankruptcy (resolution)

• Provide subject matter expertise related to Capital risk management process and Capital stress testing to the Risk verticals teams, Corporate Treasury and other partners across the enterprise, in order to drive the execution of the stress testing framework and ensure Risks identified are reflected across all scenarios

Critical success measures:

• Deliver against the book of work for Enterprise Capital Risk Management

• Ensure that we are providing appropriate monitoring and analysis that allow us to support high quality risk insights

• Connection to and execution of responsibilities of the independent risk function

Core Competencies:

• Vision- Takes a long-term view and builds a shared vision with others; acts as a catalyst for organization change. Influences others to translate vision into action

• Communication- Can articulately paint credible pictures & visions of possibilities and likelihoods

• Resilience- Deals effectively with pressure; remains optimistic and persistent, even under adversity. Recovers quickly from setbacks. On occasion required to take an unpopular stand

• Collaboration- Develops networks and builds alliances; collaborates across boundaries to build Capital relationships and achieve common goals. Influencing and negotiating across external stakeholders (regulators) as well as internal groups including LOB Risk teams, Corporate Treasury, GRRP, Audit & Compliance to drive execution

• Interpersonal Skills- Treats others with courtesy, sensitivity, and respect. Considers and responds appropriately to the needs and feelings of different people in different situations

• Developing Others- Develops the ability of others to perform and contribute to the organization by providing ongoing feedback and by providing opportunities to learn through formal and informal methods

Key Requirements:

• 3-5 years of Treasury, Finance, Accounting or Risk Management experience, including Market Risk related experience.

• Strong analytical skills, including both analysis of financial data and written reports

• Proficiency with PowerPoint and Excel. Writes in a clear, concise, organized, and convincing manner for the intended audience

• Experience with Python and SQL or other programming languages. Role requires querying databases and building and maintaining risk management tools.

• Strong business-centric mindset with ability to utilize sound business judgment and tailor approach to drive optimal business outcomes

• Diverse backgrounds or experiences welcomed; however knowledge of capital rules and application of the rules and capital markets product knowledge a plus

Skills:

• Analytical Thinking

• Credit and Risk Assessment

• Critical Thinking

• Portfolio Analysis

• Decision Making

• Oral Communications

• Presentation Skills

• Technical Documentation

• Written Communications

• Active Listening

• Issue Management

• Liquidity Management

• Monitoring, Surveillance, and Testing

• Regulatory Compliance

Shift:

1st shift (United States of America)

Hours Per Week:

40