Global Markets Risk Manager (Mortgages and Securitised Products)

Job Description:

Job Title: Global Markets Risk Manager (Mortgages and Securitised Products)

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.

The Team:

You will be working with the Global Markets Risk team, based in London, covering the Global Mortgages & Securitized Products business.

Role Description:

In addition to providing independent Market Risk oversight of local structured products (ABS/RMBS/CMBS) trading and loan origination activity, the role will involve liaising with other Risk functions as necessary to assess a broad spectrum of risks (e.g. Credit, Operational, Counterparty risks) and ensure that activity fits within firm risk appetite. The role also requires close interaction with the trading/structuring desks and other support groups (e.g., Finance, Quants, Technology, etc.).

Responsibilities:

• Review trading portfolios and associated risk metrics, liaising closely with the business to understand current/evolving market trends and assess impact on the firm’s portfolios.

• Analyse and assess structured trades, including via cash flow modelling and idiosyncratic stress scenario generation.

• Assess commercial real estate and asset-backed lending opportunities across a range of collateral types.

• Identify and assess risks related to new products and business initiatives.

• Report and monitor positions against market risk metrics and limits.

• Summarise risk views for senior management to ensure they are kept informed of developments in the portfolio.

• Participate in stress testing and capital planning exercises, including identifying; and analysing key points of weakness and illiquid risks across the firm’s portfolios.

• Assist in ad-hoc Risk-related queries and projects; bespoke risk analysis, reports and analysis for regulators.

• Ensure risks are fed to and accurately captured by the Bank’s risk systems and methodology.

What we are looking for:

• Excellent academic background, which may include a postgraduate qualification

• Working knowledge of financial markets

• Good analytical knowledge of traded products and their valuation & risk profiles in positioning and hedging exposures

• Highly proficient in desktop data manipulation e.g. Excel (models, pivots), Access, etc.

• Excellent written and verbal communication skills

• Ability to work in a high-energy and demanding environment, taking care of multiple things at any given time

Benefits of working at Bank of America:

UK

• 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

• 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 etc.

• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.

• Access to an Employee Assistance Program for confidential support and help for everyday matters

• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution

• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.

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, religion or belief, 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.

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