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Job Description: Corporate Title: Assistant Vice President Location: London Line of Business: Global Risk
Are you a dedicated risk professional who takes pride in their work? Want to join a diverse team with a dynamic culture that rewards excellence and fosters a culture of nurturing talent? Here in our London office we are looking for a Risk Manager Senior Specialist to join our Treasury and Control Function Risk (TCFR) team.
Our team is responsible for the oversight of Liquidity Risk, Interest Rate Risk in Banking Book (IRRBB) and Capital Risk.
For each of our core risk types (Liquidity, Capital & IRRBB), we:
Ensure an appropriate Risk Framework is both built and implemented
Lead the Risk Limit / Metric Framework, including Risk Appetite
Handle the Risk relationship with regulators
Provide ongoing oversight of Risk profile of the entity, including Business engagement
Ensure relevant Risks are appropriately included in our ID process
For legal entity Risk Appetite and Risk ID, TCFR also co-ordinate the activities and engagement of the relevant Business and Risk teams, ensure appropriate governance and provide holistic review and challenge. As the owners of Risk Appetite we also ensure appropriate escalation of Board and Risk Management Committee (RMC) limit breaches.
You will have the opportunity to work across all aspects of the team in support of the primary deliverables, with the career objective of building sufficient knowledge and experience to take ownership of a specific risk type (Liquidity, Capital or IRRBB). You will also support the establishment of the TCFR framework in Dublin in conjunction with senior leaders and business partners, including frameworks for our core risk types and the implementation of new Risk Appetite Statements and the Risk ID process.
This is an excellent chance to build on your prior experience gained in Risk, Treasury, Product Finance, or Business Analytics to gain:
A holistic overview of Global Markets and Global Commercial Banking business models at a legal entity level
Broad exposure to all risk types including their links to Capital, with in-depth coverage of IRRBB and Liquidity & Capital Risks
Flexible working arrangements are supported within the team and will be considered on a case by case basis.
As a Risk Management Senior Specialist what will your main responsibilities involve?
Responsibilities will vary throughout the year including:
Monitor Liquidity Risk, IRRBB and Capital reporting to understand changes to the risk profile, including engagement with business partners to understand drivers of historic and future changes
Drive the annual Risk Appetite process, including calibration of Liquidity Risk and IRRBB metrics
Review, challenge and approve multiple legal entity Internal Capital Adequacy Assessment Process (ICAAP) and Internal Liquidity Adequacy Assessment Process (ILAAP)
Escalation of risk appetite limit breaches and collaborating with partners to ensure appropriate actions are being taken to remediate
Coordination of semi-annual risk ID process, in which each business identifies their key risks as input to Stress Testing and Board review
Review and challenge of Liquidity Stress assumptions before being presented to legal entity Risk Management Committees for approval
As a Risk Management Senior Specialist what skills and competencies will you ideally possess?
Pro-active, holistic in approach and highly analytical, with a focus on pragmatic solutions
An appetite to learn and challenge; you will be comfortable confronting unstructured problems with multiple partners
Demonstrable quantitative analysis experience in a Financial Institution, preferably including working closely with multiple data providers / partners
Excellent communication skills, both written and oral
Ability to effectively use data to tell a story and reach a conclusion
Ability to present complex issues concisely
Ability to prioritise work and handle expectations effectively when working on multiple initiatives
An appreciation of the importance of an independent risk function
Knowledge of, and interest in, the evolving business and regulatory environment, building from a solid analytical skills base and looking to become an in-depth subject matter authority in Liquidity, Capital or IRRBB
Experience of prudential issues, including exposure to the PRA or other Financial Services regulators and their approach to supervision would be helpful
About Bank of America Merrill Lynch Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses. The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch's responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.
Apply If you're interested in this opportunity please send your details to us by applying online. 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 mindset 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. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.