Job Information
Bank of America Vice President, Bank Funding Senior Trader (Country Treasurer), Chief Financial Officer Group in Taguig, Philippines
Vice President, Bank Funding Senior Trader (Country Treasurer), Chief Financial Officer Group
Taguig, Philippines
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Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
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.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
Global Funding (GF) is one of the key areas within Corporate Treasury. GF employees interact daily with internal and external constituents including front line units (FLUs), other Corporate Treasury functions such as Balance Sheet Management (BSM) / Capital Management (ECM), Corporate Treasury Finance, and Global Liquidity Management (GLM), internal control partners, regulators, market participants and investors. The mission of GF is to ensure Bank of America Corporation and all its subsidiaries are sufficiently funded at all times. The team utilizes its global presence to provide efficient funding strategies across the enterprise in the most cost effective manner, while managing the risks associated with those strategies.
The GF team manages enterprise liquidity and ensures that funding is maintained at levels sufficient to operate in normal and stressed scenarios. We are tasked to forecast the sources and uses of funds across a variety of entities and currencies, taking into account business input, the Corporation’s risk appetite and projected market conditions in order to manage effectively the Corporation’s key cash and liquidity positions. Implementation of our funding and hedging strategies necessitates flawlessly executing transactions with internal and external counterparties in accordance with liquidity and capital constraints, internal guidelines, legal limitations and regulatory directives.
A successful career in Corporate Treasury requires you to think critically about the many challenges facing our company and industry with an emphasis on attention to detail, teamwork and strong communication skills. The Treasury group provides an opportunity to gain broad knowledge about the company and its many businesses as well as the global markets in which we transact. Your day to day experience will be varied and challenging, and will allow you to extend your skills within various disciplines, such as market analysis, short-term money market execution and real-time liquidity risk management.
What you will do:
Funding execution:
As per GF policies and procedures, own daily funding trade execution for designated legal entities in coordination with global partners
Manage Local (PHP) and Foreign currency (USD) balance sheet, interest rate and liquidity gap risks
Monitor capital markets for signs of stress and escalate funding and liquidity issues
Optimize funding considering stability, price, risk appetite, and other enterprise factors
Manage foreign exchange and derivative trade execution for Treasury/Enterprise needs
Manage liquid asset buffer portfolios
Execute reverse repo transactions to optimize collateral portfolio
Provide liquidity risk counsel and pricing consultation to FLUs
Funding forecasting:
In concert with local and enterprise partners, analyze business plans and forward balance sheet for designated legal entities and develop an appropriate funding plan
Work with FLUs to develop an understanding of future business flows and risks
Investigate and correct forecast misses in order to minimize future variance
Risk management:
Manage risks within established metrics consistent with the company’s risk appetite
Hedge interest rate and foreign exchange exposures where necessary per policy
Be a subject matter expert on Treasury topics and consult with FLUs on liquidity risk drivers and constraints
Manage excess liquidity to meet operational requirements and achieve maximum efficiency
Interface with local regulators on treasury-related matters (funding, liquidity and risk)
Balance sheet governance:
Chair the local Asset and Liability Committee (ALCO) and provide guidance to FLUs on balance sheet matters
Monitor changes in assets and liabilities and understand causation for all currencies funded
Be a subject matter expert on funds transfer pricing (FTP) and serve as a consultant to FLUs
Work with the FTP group to ensure that practices and methodologies drive desired behavior
Ensure that a robust control environment is maintained through compliance with all laws, regulation, policies, procedures and directives.
Other:
Represent Treasury at LMT (Local Management team) and contribute to strategic initiatives
Drive training and development for the Philippines Treasury team
Participate in technology enhancement projects and enhance operational excellence
Perform extensive ad-hoc financial analysis related to funding risks and opportunities
Respond to spontaneous information/reporting requests both internally and from regulators
Where required, manage interaction withRegulatorand other stakeholders
Your background:
Undergraduate degree with quantitative focus / prefer finance, accounting or engineering major
Minimum relevant experience of at least 10years in Money Market / FX activities (including Asset-Liability management and ALCO exposure), with focus on balance sheet, liquidity risk management, IRR analytics, funds transfer pricing, markets or finance.
Advanced understanding of markets, financial statements, liquidity and risk
Strong Excel skills are a must.
Tech Tools:
Tableau, Alteryx, Workiva abilities will be an added advantage.
Word and PowerPoint proficiency
Ability to lead and manage a team
Strong ability to communicate effectively across a broad range of constituents including seasoned teammates, upper management and disparate business partners.
Skilled at building and maintaining strong relationships across the enterprise. Ability to deliver a difficult message while maintaining close working relationships.
Execution experience in interest rate and foreign exchange products both cash and derivatives
Demonstrated ability to communicate at a management level in English
Beneficial skills / traits:
An appropriate second language is valuable in nations where English is not the primary language
Creative problem solving skills and orientation
A genuine interest in financial markets / a drive to “win”
Effective communication skills
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.
View your "Know your Rights (https://www.eeoc.gov/sites/default/files/2023-06/22-088_EEOC_KnowYourRights6.12.pdf) " poster.
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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.