Overview of Global Risk Analytics
Bank of America has an opportunity for a Risk Analysis Specialist I within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM). GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard; GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities
Overview of the Team
Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets. This role sits within the Data Controls & Integrity (DCI) team. Data Controls & Integrity (DCI) is responsible for ensuring adequate controls and processes exist to validate the firm's traded products activity for the purposes of Credit and Capital calculations. The team is also heavily involved in process re-engineering, automation, and the development of our target state risk repository.
Overview of the Role
As a Risk Analysis Specialist on the Data Controls & Integrity (DCI) team, your main responsibilities will involve:
Track and escalate any data quality issues impacting collateral enforceability and Bankruptcy remote Initial Margin.
Systematic implementation of legal opinions around the Bankruptcy remoteness of initial margin (cleared and un-cleared products).
Prepare reports summarizing business and control results for a senior audience.
Work closely with business partners across lines of business and risk Control functions e.g. Wholesale Credit and Risk, Capital Markets Risk, Capital Balance Sheet Management, Client On-Boarding, Legal, Agreements and Documentation Teams, Middle office and Technology.
Challenge existing processes to develop synergies, ensure alignment, and strengthen controls.
Write Business Requirements and Perform User Acceptance Testing for the implementation of legal opinions.
Required Education, Skills, and Experience
5+ years experience in the financial services industry (Large banks, brokers-dealers, hedge funds, or financial/data intermediary)
Working experience in a related field (Market Risk, Middle Office, or Counterparty Credit Risk)
Strong analytical skills with Traded Products knowledge, and exposure to Credit Risk and Basel rules
Advanced proficiency in MS Office suite is critical
Understanding of ISDA Master Agreement's, and Collateral Support Annexes, documentation standards and negotiations
Excellent verbal and written communication skills
Candidate must be able to manage time sensitive issues, prioritize multiple processes and projects, and articulate thought process for decision-making
Experience with Data Incident Tracking tools such as JIRA/eDIM
Desired Skills and Experience
Proven programming skills (Python, Tableau, C++, SQL, or equivalent object-oriented programming) a plus
Prior experience in Data science, data operations or data analysis is preferred
Enterprise Role Overview:
Responsible for performing more complex analysis and is engaged in the development of modeling that maximizes profits and asset growth and minimizes credit and operating losses and other risk exposures. Provides analytical support on various product strategies to ensure company goals are met. Coordinates the production of performance reports for Senior mgt. Reviews and analyzes trends in current population distributions and recommends strategies. May participate in or develop more complex program models to extract data and use databases to provide statistical and financial modeling. Analyzes portfolio trends, concerning credit score cutoffs, loss trends, portfolio dynamics, and bureau scoring criteria. Will participate in the rollout of company-wide pilot programs developed as a result of programmed models. Duties primarily include the regular use of discretion and independent judgment. Programming experience such as SAS, SQL or Micro Strategy and Master's Degree or large data experience preferred. 2-5 year experience
1st shift (United States of America)
Hours Per Week:
Learn more about this role
Bank Of America Corporation