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Counterparty Credit Risk Manager

Closing date
11 Jul 2022

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Contract Type
Full Time
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Job Description:

Job Title: Counterparty Credit Risk Manager

Corporate Title: Director

Location: Bromley

Role Description:

We are looking to recruit a high performing candidate to join the Counterparty Risk team. The candidate is expected to have a good understanding of traded products, counterparty risk and the ability to understand systems and models used for CCR management. A part of the role is to review Algos that are used for Electronic Trading to assess impact to CCR. The role involves interaction with various areas across the bank globally, including the Global Markets Sales & Trading businesses, Electronic Trading, as well as other support areas (e.g. Enterprise Credit Risk, Global Risk Analytics, Wholesale Credit, Compliance, Legal, Operations, Finance, etc.).

A successful candidate will be an individual contributor, whose responsibilities shall include (but not limited to):-
  • Collaborate closely with the Global Markets Sales and Trading, Electronic Trading desks to understand and perform due diligence of non-standard trades and Algos.
  • Participating in Electronic Trading Risk Governance
    Clearly, articulate the recommendation for approvals including conditions or rational for denial of the requests
  • Identify, escalate and debate risk matters
  • Act as the "user" representative to test and validate the enhancements to the Counterparty Risk Systems, Tools and functionalities
  • Contribute towards the ongoing dialogue with the various regulators (such as PRA, OCC and FRB)
  • Participate and contribute towards the firm wide CCR initiatives and process improvements

The Team:

The Counterparty,Financial Markets Utilities, Indirect Coverage Area, and Governance (CFIG) team is part of the Global Markets and Financial Risk (GMFR) function within Global Risk Management. CFIG team is comprised of three disciplines: Counterparty Risk, Financial Markets Utilities (FMU) Risk and Compliance for Counterparty Risk, FMU Risk and Market Risk Regulations.

The Counterparty Risk team's key focus areas are management and oversight of the Counterparty Credit Risk (CCR) framework,CCR policies and approval of Global Markets New Products and non-standard transactional approvals. The Counterparty Risk team is the CCR Exposure Model owner and the Business owner for the CCR System (Credit Studio) and owns several CCR initiatives.

Key skills:
  • Minimum of a Bachelors' Degree (or equivalent), with preferred majors in Business, Finance or Accounting, but not necessary if work experience in the relevant competencies.

  • Understanding of derivatives including risk mitigation techniques to manage CCR (legal documentation and terms, collateral, etc.)
  • Experience in working with Global Markets Sales and Trader
  • Demonstrate a keen interest in financial markets and risk management
  • Have experience influencing stakeholders and driving an agenda
  • Embrace and adapt to change as regulatory requirements and expectations are continually evolving
  • Broad understanding of other risks including, market, reputational, compliance, and operational
  • Comfortable working with systems
  • Ability to work in a fast paced environment, dealing with multiple things with changing priorities
  • Team player, self-starter and intellectually curious
  • Clear and concise verbal and written communication skills

Bank of America:

Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.

In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.

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 gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, 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. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.

This employer is a corporate member of myGwork - LGBTQ+ professionals, the business community for LGBTQ+ professionals, students, inclusive employers & anyone who believes in workplace equality.
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