Job Information
Bank of America Senior Analyst in Mumbai, India
Senior Analyst
Mumbai, India
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Job Description:
Overview
Bank of America is one of the world’s leading 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. We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.
We are a part of the Global Business Services which delivers technology and operations capabilities to Bank of America lines of business (LOB) and enterprise functions.
Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
* BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.
Process Overview
Global Markets and Financial Risk (GMFR) serves as independent risk oversight of the firm’s trading activities across various trading desks and trading portfolios. The Global Business Services team is responsible for implementation and management of cross-product processes and analysis to support GMFR.
Job Description
Counterparty Credit Risk and Portfolio Management (CCRPM) team within GMFR is responsible for managing counterparty concentration, performing counterparty portfolio analysis and delivering the BAU counterparty stress testing. CCRPM is part of Counterparty and Financial Market Utilities Risk, Indirect Coverage Area Group (CFIG) team.
The Analyst is responsible for measuring counterparty credit risk (CCR) for all lines of businesses in the Markets division covering all traded products (fixed income, currency, commodities, equities).
The analyst will assist in constructing counterparty credit risk portfolio reviews along with specialized deep dives on specific counterparties. The analyst will present their analysis to senior management, including Market Risk, Wholesale Credit, and Enterprise Credit, as well as Front Office Trading and Sales team. In this capacity, the analyst will need to leverage their expertise in counterparty credit risk management and traded products to highlight areas that warrant additional investigation, monitoring and discussion. The analysis will encompass a range of counterparty exposure management techniques such as potential future exposure, stress testing, sensitivity analysis, wrong way risk, and CVA.
Additionally, the analyst will assist in the managing of counterparty concentration limits at the counterparty level across asset classes. The analyst will be responsible for maintaining strong risk discipline and demonstrated ability to working across a variety of functions including trading, sales and credit risk.
The successful candidate will need to have a mix of technical skills and the ability to communicate with a wide audience both written and orally.
Responsibilities
Solid understanding of derivative products with broad knowledge across asset classes (FX, rates, equity, and credit).
Knowledge about counterparty risk measurement techniques on derivatives and financing transactions preferred.
Strong computer skills (Office, VBA, Python, Bloomberg, SQL).
Excellent communication skills both written and verbal.
Self-starter who excels in a fast paced environment, liaising with multiple teams, working closely with the Line of Business (LOB) to understand the process and managing LOB process expectations.
Supporting analysis and data requirement for multiple ad hoc questions on reports from regulators, internal senior risk leaders and audit partners.
Maintain and develop documentation on processes where needed.
Requirements
Education
- Bachelors/Masters degree in Engineering, Commerce, CA, MBA from top tier colleges.
Certifications
- CFA, FRM etc. will be an added advantage
Experience Range
- 7-10 years of experience in capital markets operations with a thorough understanding of trade life cycle
Foundational Skills
Experience in market risk and credit risk related field.
Intellectually curious with ability to investigate and develop root cause analysis for portfolio changes.
Experience working with large data sets.
Ability to aggregate and synthesize complex data from multiple sources.
High level of proficiency with Microsoft Excel.
Adept at communication with ability to influence co-workers across our global team and all levels of the organization including escalation of issues.
High level of attention to detail.
Desired Skills
Experience with regulatory reporting, regulatory exams and/or audit.
Prior experience in a risk Senior Analyst role covering Global Markets products is a plus.
Shift Timings
- 12 noon to 9pm IST
Location
- Mumbai
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank’s required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.