Director, Director, Risk Management Manager recruitment
Bank of America Merrill Lynch’s Europe, Middle East and Africa (EMEA) footprint comprises of 32 cities across 23 countries on three continents. The company is a long-established participant in the European markets, with a presence since 1922. Currently over 14,000 associates are based in EMEA.
Globally, Bank of America Merrill Lynch serves clients and customers in more than 150 countries and has relationships with 99 percent of the U.S. Fortune 500, nearly 96 percent of the Fortune Global 500 and 33 percent of the FTSE 100.
Today, the company offers an integrated and comprehensive set of products and services across all businesses, serving the needs of individual, corporate, institutional and government clients, by combining the best of local knowledge and international expertise. Bank of America Merrill Lynch has a strategic and measured approach to its international development and is strengthening its business and infrastructure to create sustainable, long-term growth.
Business area Overview:
Enterprise Capital Management: The Enterprise Capital Management organization was established earlier this year. This organisation ensures efficient and proactive management of economic and regulatory capital as well as successful implementation of related initiatives.
Job description:
The candidate will join Counterparty Credit Risk Capital International Legal Entity Capital (CCR LE Capital) team, which is a recently established team. CCR LE Capital falls within the Enterprise Capital Management (ECM) organisation which is responsible for leading capital management across the company.
The team works closely with the Counterparty Credit Enhancement program. The role is to take a leading role to ensure successful interpretation and compliance in the counterparty capital implementation program, in-line with the changing regulations, including Basel, CRD and US final rules. Whilst there will be a small project management aspect, this role is essentially a Subject Matter Expert position with a content rich perspective. This includes an in-depth understanding of counterparty capital, not only from a Basel / US final / UK BIPRU rule standpoint, but also how this should be interpreted and implemented in the Bank.
The role entails understanding the changing regulatory landscape for counterparty credit working in partnership with the counterparty, capital and technology teams as a subject matter expert, providing leadership to interpret, drive out and document requirements, with associated supporting analysis.
Responsibilities:
The candidate will:
- Understand the changing regulator rules for counterparty, including Basel / US / European legislative changes, with a focus on Counterparty
- Partner closely with the Counterparty credit team and capital teams to drive out , document and assist in implementing the business requirements relating to the regulatory rules
- Understand the systems architecture and detailed data flow as it relates to counterparty credit, and materiality of assumptions, and changes that need to be implemented in order to meet new regulations
- Perform adhoc specific analysis on the counterparty portfolio to identify key risks
- Deliver of high quality to analysis with recommendations to senior management
- Provide input as SME into counterparty capital initiatives throughout the project life cycle
Requirements:
- Good knowledge of European and US regulations for calculating capital relating to Counterparty Credit Risk
- Knowledge of differences between European / UK / US regulations and Basel II would be advantageous
- Experience working on Basel III QIS advantageous
- Broad knowledge of financial products, especially OTC derivatives and Securities Financing
- Strong quantitative skills and genuine interest in interpretation of data
- Leadership skills, and ability to manage multiple tasks
- Strong interpersonal communication skills with ability to build networks and work across lines of business
- Ability to work independently
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Merrill Lynch, Pierce, Fenner Smith Incorporated, which is a registered broker-dealer and a member of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
Bank of America Merrill Lynch offers a number of outstanding career opportunities designed to attract and retain all skill levels – a chance for both personal and professional development as well as a salary and benefit package designed to reflect the individual’s contribution.