Operational Risk Officer, Global Banking & Markets
Overview
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the company’s global banking and global markets businesses.
The company is a long-established participant in the European marketplace, with a presence since 1922. With offices throughout Europe and CEEMEA, 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.
Global Banking Markets includes corporate banking, investment banking and sales trading. The group provides services to middle-market and large corporations, government entities and institutional investors. These services include mergers and acquisition advice, equity and debt capital raising, corporate lending, sales and trading in fixed income, commodities, currency and equities, risk management, research, and liquidity and payments management.
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.
Job Description
Global Markets coverage includes sales and trading business across Equities, Commodities, Rates Currencies, Credit, Loans Special Situations, Mortgages and FICC Emerging Markets ex Asia. It's functional coverage is front to back (Middle Office, Back Office etc) includes Market Credit Risk.
Global Banking Markets (GBAM) Operational Risk is an expanding team in a dynamic risk discipline, with an increasing profile, exposure and focus within the firm. This role will provide you with a high level of opportunity for growth in knowledge experience across multiple products functional areas of the bank, as well as potential for long term career progression into a senior role within the GBAM Operational Risk team.
GBAM Operational Risk will be able to offer you experience within a top tier bank across multiple product lines (vanilla, derivatives structured) and front to back functions, rather than narrow specialism in one financial product. Additionally, you will gain experience across all aspects of the operational risk framework.
Responsibilities
This is a new role within an independent operational risk team reporting to the Chief Risk Office that acts in a challenge and advisory capacity to the markets’ businesses. You will work under the direct supervision of senior team members within the global markets team, working across various sub business lines.
You will assist senior team members with all aspects of the operational risk framework, participating in the evaluation and of the effectiveness of the operational risk programme within the business.
Specifically this may include:
- Evaluation of governance routines/policies/procedures to ensure internal external compliance;
- Helping embed the OR framework deeper into the business (workshops, training, call programmes);
- Review analysis of risk for new products major change initiatives;
- Implementation monitoring of metrics;
- Analysis/trending reporting of losses/ incidents their associated action plans to identify risks control issues ensuring appropriate actions are taken to mitigate risks beyond appetite;
- Review of external events for relevancy to Firm;
- Identification of emerging risks;
- Validation of risk and control profiles;
- Conducting scenario analysis;
- Quality assurance and quality control testing.
Requirements
Essential
- Capital markets experience preferably across multiple products OR experience in operational risk, audit or business process management type roles
- Strong bachelors degree
- Strong communication influencing skills: You will be required to work with and represent GBAM Operational Risk to varying levels of management across various functions and lines of business, as well as internally within the team. You will need to be diplomatic in nature and possess an ability to manage challenging conversations. The role may involve advising, awareness training and running workshops with the business in relation to the operational risk framework
- Strong written presentation skills: You will need to prepare reports and presentations in PowerPoint
Desirable
- Numerate, analytical basic to moderate statistical skills. The work may involve analysis and manipulation of data for purposes of process/controls analysis, and metrics. This may have been gained through previous work experience or through relevant qualifications
- Prior knowledge or experience of assessing operational processes and control environments, preferably within an investment banking organisation. You may possess process mapping skills and the ability to use tools such as Visio or ARIS
- Good IT skills, in particular Excel: Intermediate level and above (macros/statistical analysis)
- Desire to develop and progress to senior/global Operational Risk role
- Project Management skills/experience: The role will demand a great deal of flexibility and ability to simultaneously manage multiple work-streams
- Appreciation of the regulatory environment and changes that are facing investment banks
- Experience with preparing or facilitating workshops
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