Risk Manager—Liquidity Risk Scenario Development
About the Position
Enterprise Liquidity Risk Management is a department within Treasury & Control Function Risk (TCF Risk). It is responsible for providing an independent assessment of Bank of America’s Liquidity risk. The department’s aim is to support Bank of America’s purpose in making financial lives better through responsible growth. This is accomplished by providing an independent perspective on the effective utilization of Bank of America’s Liquidity resources. The goal of the department is that a healthy and sustainable Liquidity profile is maintained through a business as usual environment and also during times of stress to support the Businesses Earnings Plans.
Enterprise Role Overview
Provides counsel to business unit managers on risk management issues. Identifies risks to which the LOB is exposed, implements measures to prevent, eliminate or mitigate losses, and monitors outcomes/risk levels. Ability to recognize all risk categories including credit, market, operational and compliance and bringing appropriate risk expertise as needed. Accountable for conducting execution of risk framework activities including, but not limited to, independent monitoring and testing of controls and risk management processes for the LOB. May direct risk staff or participate in establishing risk management procedures and standards, developing risk management analyses and reports, developing approval procedures and guidelines on risk limits by type of product and/or transaction, and in establishing management and administrative procedures to ensure adherence to policies.
Understand and drive the end-to-end Liquidity Risk Stress Testing Framework for the Enterprise across all new scenarios and core scenarios. As a Risk horizontal team and via Regulation YY, it is our role to ensure the Enterprise is provided a suite of Liquidity Risk Scenarios that allow us to understand the sensitivities of our business model and balance sheet and how our balance sheet will react under a variety of conditions, baseline to bankruptcy. It is also our aim to ensure that the scenarios employed are fulsome and are able to stress these sensitivities and allow us to appropriately manage Liquidity Risk. Out Corporate Treasury partners will execute the processes to calculate results of these Liquidity Risk scenarios
- Enhance the Liquidity Risk landscape, by ensuring our balance sheet and business model is appropriately stressed
- Partner with the Capital Scenario Planning team within the Enterprise Scenario Planning and Execution (ESPE) office and Corporate Treasury in order to:
- ensure our core scenarios for Liquidity Risk are appropriately fulsome and contain all of the elements needed to stress our balance sheet
- ensure that our Recovery and Resolution scenarios for Liquidity Risk are appropriately fulsome and contain all of the elements needed to stress our balance sheet
- develop new supplemental scenarios for Liquidity Risk designed to stress sensitivities unique to our balance sheet and business model
- Provide subject matter expertise related to stress testing to the Risk verticals teams and to Corporate Treasury in order to drive the execution of the stress testing framework and ensure Risks identified are reflected across the new scenarios
- Vision- Takes a long-term view and builds a shared vision with others; acts as a catalyst for organization change. Influences others to translate vision into action
- Communication- Can articulately paint credible pictures & visions of possibilities and likelihoods
- Resilience- Deals effectively with pressure; remains optimistic and persistent, even under adversity. Recovers quickly from setbacks. On occasion required to take an unpopular stand
- Collaboration- Develops networks and builds alliances; collaborates across boundaries to build strategic relationships and achieve common goals. Influencing and negotiating across external stakeholders (regulators) as well as internal groups including LOB Risk teams, Corporate Treasury, GRRP, Audit & Compliance to drive execution
- Interpersonal Skills- Treats others with courtesy, sensitivity, and respect. Considers and responds appropriately to the needs and feelings of different people in different situations
- Leveraging Diversity- Fosters an inclusive workplace where diversity and individual differences are valued and leveraged to achieve the vision and mission of the organization. Exposure and involvement with Employee Engagement initiatives including supporting Diversity & Inclusion efforts
- Developing Others- Develops the ability of others to perform and contribute to the organization by providing ongoing feedback and by providing opportunities to learn through formal and informal methods
- Strong analytical skills, including both analysis of financial data and written reports
- 10+ years of Markets Risk, Finance, Accounting or Risk Management experience. Note, Diverse backgrounds or experiences will be considered
- Proficiency with PowerPoint and Excel. Writes in a clear, concise, organized, and convincing manner for the intended audience
- Strong business-centric mindset with ability to utilize sound business judgment and tailor approach to drive optimal business outcomes
About Bank of America
Bank of America is one of the world’s leading financial institutions, serving individuals, small- and middle-market businesses, large corporations and governments with a full range of banking, investment management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 48 million consumer and small business relationships with approximately 4,800 retail financial centers and approximately 15,900 ATMs and award-winning online banking with 31 million active users and approximately 17 million mobile users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
To apply, email Taylor Les, strategic account manager for The Alumni Society.