Bank of America Careers New York

Global Markets Risk Analyst

Job Details

Job Description 

The Global Markets and Financial Risk Organization is seeking a Market Risk Analyst covering the Global Mortgages trading desk in Bank of America’s Global Markets division. The market risk analyst will assess a broad spectrum of risks for the desk, liaising with other risk functions as necessary, including credit, liquidity, operational, 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.

As a Global Markets Risk Analyst your main responsibilities will involve the:

• Review market risk positions, particularly under potential risk scenarios, and raise challenges to the desk if necessary.
• Liaise closely with the businesses to understand market trends and report exposure under different market conditions.
• The primary focus is on the market-making desks, which include both agency and non-agency mortgage trading
• Identify and analyze all significant risks and ensure Senior Management is kept informed of these risks.
• Report and monitor positions against Market risk metrics and limits.
• Liaise closely with the business to detail any overages and set limits.
• Ability to analyze and model transactions, including cash flow modeling and idiosyncratic stress scenario generation
• Review risks related to new products, structured deals, and business strategies.
• Liaising closely with the business and other support functions to determine these risks and ensure they are within the appetite and correctly monitored.
• Identify and perform stress tests to determine the circumstances under which the business portfolio could incur material losses.
• Provide a 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 by the Bank’s risk system and risk methodology.
• Assist in the setup, configuration, and implementation and undertake user acceptance testing of new and upgraded risk management systems and upstream systems for risk to help enhance the firm’s risk management capabilities.
• Contribute to the development of the team and to the positive working environment

Required and Desired Candidate Qualifications

The candidate must have a keen interest in financial markets and risk management and should have the following attributes:

• Master’s degree in finance, Business Administration, or another related degree.
• 1+ year of financial market experience with some understanding of key risk metrics such as VaR desirable.
• Good understanding of credit markets, with experience or knowledge of securitization markets desirable
• Strong quantitative and problem-solving skills
• Strong written and oral communication, interpersonal, and organizational skills in order to communicate effectively with traders, support partners, and senior management
• Ability to build good relationships whilst maintaining independence, handle disputes, negotiate with traders and enforce difficult decisions.
• Strong work ethic, with the ability and motivation to drive results
• Ability to multi-task and prioritize, to meet deadlines without compromising on quality
• Willing to analyze exposure and risk reports in-depth daily and follow up on significant changes
• The candidate should have a good understanding of technology systems and their development process.
• Familiarity with Microsoft Excel essential, VBA, and Python is desirable.