Global Markets Risk Executive

Company: Disability Solutions
Location: Jersey City
Posted on: February 1, 2025

Job Description:

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!Job Description:Working closely with Model Risk Analytics, Model Risk, Line of Business Risk Managers and Technology teams, the candidate will provide support for the implementation, testing and rollout of VaR/S-VaR market risk models. With a good working knowledge of market data infrastructure, data flows and market risk models, the candidate will be expected to play a significant role in the business design and risk system requirements, ensuring the completeness and accuracy of all market risk models.A good understanding of the key risk drivers at product, business and firm-wide levels is required. The ability to communicate to Line of Business Risk Managers potential risks is required. The candidate will consult with Line of Business Risk Managers to provide quantitative risk implications of regulatory changes and new product development. The role requires skill to evaluate tradeoffs of model precision with practical system capabilities to value engineer the implementation of market risk models to reflect changes in the business & regulatory environment. The role requires a flexible approach that can deal with problems that require pragmatic solutions and innovative thinking. Must be able to manage competing priorities and stakeholders to prioritize improvement efforts to drive accuracy, operational stability, and speed to market.Managerial Responsibilities:The candidate will lead a team that is in multiple time zones with varying degrees of experience and technical expertise. The role requires direct interaction with multiple regulatory groups both internal and external. Maintaining the control environment is paramount for success. Process and project management are a core responsibility including leading -$1mm/year size change management projects.Required Qualifications:--- At least ten year's work experience in Finance with a strong preference for candidates with a Market Risk background--- Master's Degree or equivalent with emphasis in financial engineer or quantitative disciplines --- A thorough understanding of Market Risk models including Value at Risk, Stress Test models and related economic capital regulations is required. An advanced understanding of the mathematical principles underlier these risk models and how these principles are implemented and controlled in large scale risk systems is highly desirable--- Extensive history of conducting large scale time series market data analysis in the context of VaR modeling, covering all asset classes and products. A thorough knowledge across fixed income financial products including Equity, Commodity, FX, interest rate and credit products is required--- Experience in quantitative computer programming (Python, SQL) with practical application to financial time series a plus--- Advanced desktop technology skills such as Excel and PowerPoint are a must (Bloomberg and Access skills are a plus but not required)--- Excellent verbal and written communication skills, including well-developed presentation skills. Desired Skills: --- Management experience for teams across regions, of ten or more people.--- Talent Development--- Production mindset to design process and controls to deliver under tight tightlines in a heavily audited area--- Analytical and process design skills to proactively monitor and remediate market data issues used in production risk measurement and reporting--- Control mindset to ensure the completeness, validity, and accuracy of market data daily. Work with business data users to define the use of data within various risk systems--- Collaboration skills especially with technology (Business Analysts, Project Managers, Developers)--- Participate in user acceptance testing of data control processes--- Business partnering skills with Reporting, Back Testing, Enterprise Stress Testing and various Technology groups to ensure effective controls over market data for GM--- Experience working with model risk and risk analysts to implement required changes and produce impact analysis for review--- Change managementShift:1st shift (United States of America)Hours Per Week: 40Pay Transparency detailsUS - NJ - Jersey City - 525 Washington Blvd (NJ2525)Pay and benefits informationPay range$200,000.00 - $322,700.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.BenefitsThis role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

Keywords: Disability Solutions, Cherry Hill , Global Markets Risk Executive, Other , Jersey City, New Jersey