Bank Of America Prime Brokerage Risk Sr Manager 

United States, New York, New York 

681705773

Job Description:

Job Description:
Responsible for the local and/or global management and direction of a Risk Management function either geographically or functionally, within a Business Area or several Business Areas (PB, IPB, PTSG, FIPB, F&O, FXPB) under the Equity Asset Management Services (EAMS) umbrella. In conjunction with the Prime Brokerage Risk Executive, the Prime Brokerage Risk Sr Manager establishes margin and risk policies across areas of remit, and ensures procedures, analysis, monitoring of client accounts and reporting of risk for a Business Area or across Business Areas. Additional responsibilities include development of margin methodology, Intraday Risk policy and monitoring, oversight of production of EST/CCAR results and reporting of market risks. The Prime Brokerage Risk Sr Manager will primarily interface with the Heads of Business Areas and their counterparts within other risk and support groups (i.e. Compliance, Finance, Operations, etc.) Incumbents typically have over ten (10) years of experience in Risk Management or Trading. Management, product knowledge and trading or quantitative skills are necessary.

• Providing second line risk oversight for business activities and risks arising in global Prime Brokerage/Listed Derivatives clearing businesses with focus on AMRS based clients.

• Ensuring the global risk framework and associated procedures are implemented and followed and that issues are swiftly identified and resolved or escalated as necessary

• Significant involvement with strategic and development work as it relates to enhancing the margin methodologies, stress testing, risk analytics and intra-day risk management tools

• Risk assessment and approval as required for new or material changes to margin financing and clearing arrangements

• Employing counterparty credit information provided by Credit risk teams to appropriately calibrate margin terms and right size exposures

• Stress testing client portfolios and providing oversight of limit utilizations where relevant

• Working closely with the first line Risk function and business to understand and evaluate existing and evolving risks and challenging where appropriate

• Developing strong relationships with key stakeholders across senior business management, origination and the various risk and credit functions

• Active participant in the risk management forums, bringing and leading the agenda from a AMRS perspective.

• Understanding changes to market structure, regulation and best practice

Required Qualifications:

• 5 years+ working in risk management function supporting Traded products with deep knowledge of Repo product

• Senior risk manager able to apply risk and control disciplines in an effective manner

• Counterparty credit risk experience preferred as part of overall experience.

• Technical understanding of the quantitative and qualitative risks impacting financing and clearing businesses is highly desirable

• Cross asset product knowledge including derivatives valuation and risk modelling

• Strong analytical skills and attention to detail

• Intellectually curious and able to execute sound judgment to appropriately characterize and represent risk issues

• Structured yet flexible approach, balanced and fair, able to make difficult decisions where necessary

• Excellent communication and interpersonal skills, proven experience of collaborating and leveraging relationship

Skills:

• Analytical Thinking

• Coaching

• Credit and Risk Assessment

• Critical Thinking

• Collaboration

• Oral Communications

• Portfolio Analysis

• Presentation Skills

• Written Communications

• Issue Management

• Monitoring, Surveillance, and Testing

• Regulatory Compliance

• Technical Documentation

• Trading Strategy