Vice President, Credit Risk Officer, Central Counterparties, Global Markets Credit

Job Description:

Job Title: Credit Risk Officer

Corporate Title: Vice President

Location: London or Paris

Company Overview

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

The Global Markets Credit (GMC) organization is responsible for credit underwriting, ongoing monitoring, and portfolio management of Global Markets (GM) financing and traded products transactions. GMC is a global organization which partners directly with Global Markets FLU (Front Line Unit) teams in relation to client selection, structuring, and underwriting activities to drive revenue growth while maintaining appropriate risk disciplines. GMC will also coordinate engagement with key control partners including Global Risk, Finance, Credit Review, and Audit in accordance with our Risk Framework and internal and external standards.

The GMC FMI (Financial Market Infrastructure) team is responsible for effective management of credit and trading risk exposures within established parameters. In particular, it provides risk assessment, transaction structuring, execution, and risk profile monitoring for FMIs globally. The FMI team partners with teams across Global Corporate & Investment Banking, Global Banking & Markets, and Global Transmission Services to build an efficient risk/reward portfolio while maintaining robust risk discipline.

Responsibilities

• Carry out credit due-diligence and written analysis on their FMI portfolio, incorporating financial, business, and industry analyses, in order to identify and mitigate risks relating to their portfolio of names.
• Ensure timely submission of approval and monitoring documents in accordance with policy and priorities set with risk and business managers, and participate in portfolio and risk reviews.
• Self-identify issues, escalate problems expediently, provide views, recommendations, and clearly voice opinions on covered credit names to senior risk officers and business partners as appropriate.
• Have experience and knowledge of financial traded products, eg, FX, rates, equities, credit derivatives, futures & options, etc.
• Monitor and understand the key risk drivers in the derivative trading book of assigned counterparties.
• Stay up to date with the regulatory, political, and business environment in the region and have a view on how these impact clients. Follow key developments in relevant industries and monitor clients closely in order to identify and act on any risk quality deterioration.
• Recommend changes to exposure limits and risk ratings in a timely manner.
• Establish strong working relationships with business and functional partners, to build an efficient risk/reward portfolio by supporting bilateral, exchange traded, and client clearing initiatives, while maintaining robust risk discipline.
• Support the Business with clearing initiatives, eg, new memberships or the clearing of new products at CCPs. This includes participation in the full credit onboarding process from initial business request to final approvals.
• Actively participate in execution of loan and derivative transactions from a credit risk standpoint, including structuring and negotiation of legal documentation, liaising with external counsel, and working with business partners as appropriate.

What we are looking for

• Strong Financial Services work experience.
• Strong credit analytical skills and risk judgment, and ability to rigorously defend a point of view, both to Risk and senior business partners.
• Thorough understanding of a broad range of derivative products, including an ability to dissect risk drivers and portfolio sensitivities.
• Familiarity with derivatives documentation (eg, GMRA/ISDA/CSA) and loan documentation.
• Sound product/technical knowledge across lending products.
• Bachelor's degree with a concentration in finance and/or accounting preferred.
• English language skills.

Bank of America

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 mind-set 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/sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, membership of the Traveller community, age, sexual orientation, pregnancy or maternity, civil status, socio-economic background, responsibility for dependants, family status or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.