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Prime Brokerage Risk Sr. Manager

New York, New York

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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.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

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

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "Know your Rights" poster, CLICK HERE (https://www.eeoc.gov/sites/default/files/2023-06/22-088\_EEOC\_KnowYourRights6.12.pdf) .

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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.