Bank of America
Enterprise Financial Risk Capital Markets Risk Sr. Specialist
Bank of America, Rochester, New York, United States
Job Description
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
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 by executing capital calculation testing and performing review and challenge of regulatory rule interpretations and compliance documentation
Develop and demonstrate acumen for the identification of capital risks and mitigants
Coordinate and conduct execution of risk framework activities that are the responsibility of EFR
Conduct and ensure appropriate documentation for all independent risk reviews and risk points of view, including 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
Provide subject‑matter expertise related to Capital risk management and capital stress testing to the Risk verticals teams, Corporate Treasury and other partners across the enterprise
Critical Success Measures
Deliver against the book of work for Enterprise Capital Risk Management
Ensure appropriate monitoring and analysis that support high‑quality risk insights
Execute 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
Communication – Articulates paint credible pictures and visions of possibilities and likelihoods
Resilience – Deals effectively with pressure; remains optimistic and persistent, even under adversity
Collaboration – Builds alliances and collaborates across boundaries to achieve common goals
Interpersonal Skills – Treats others with courtesy, sensitivity and respect
Developing Others – Provides ongoing feedback and opportunities for learning
Key Requirements
3–5 years of Treasury, Finance, Accounting or Risk Management experience, including Market Risk related experience
Strong analytical skills, including analysis of financial data and written reports
Proficiency with PowerPoint and Excel; writes in a clear, concise, organized and convincing manner
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 use sound business judgment to drive optimal business outcomes
Diverse backgrounds welcome; knowledge of capital rules and capital markets product knowledge is 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
Seniority Level Mid‑Senior level
Employment Type Full‑time
Job Function Finance and Sales
Industry Banking
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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 by executing capital calculation testing and performing review and challenge of regulatory rule interpretations and compliance documentation
Develop and demonstrate acumen for the identification of capital risks and mitigants
Coordinate and conduct execution of risk framework activities that are the responsibility of EFR
Conduct and ensure appropriate documentation for all independent risk reviews and risk points of view, including 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
Provide subject‑matter expertise related to Capital risk management and capital stress testing to the Risk verticals teams, Corporate Treasury and other partners across the enterprise
Critical Success Measures
Deliver against the book of work for Enterprise Capital Risk Management
Ensure appropriate monitoring and analysis that support high‑quality risk insights
Execute 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
Communication – Articulates paint credible pictures and visions of possibilities and likelihoods
Resilience – Deals effectively with pressure; remains optimistic and persistent, even under adversity
Collaboration – Builds alliances and collaborates across boundaries to achieve common goals
Interpersonal Skills – Treats others with courtesy, sensitivity and respect
Developing Others – Provides ongoing feedback and opportunities for learning
Key Requirements
3–5 years of Treasury, Finance, Accounting or Risk Management experience, including Market Risk related experience
Strong analytical skills, including analysis of financial data and written reports
Proficiency with PowerPoint and Excel; writes in a clear, concise, organized and convincing manner
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 use sound business judgment to drive optimal business outcomes
Diverse backgrounds welcome; knowledge of capital rules and capital markets product knowledge is 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
Seniority Level Mid‑Senior level
Employment Type Full‑time
Job Function Finance and Sales
Industry Banking
#J-18808-Ljbffr