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Assistant Manager

Bank of America
2-8 years
Not Specified

Job Description

Job Description:
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.
Process Overview
Global Business Services delivers control functions responsible for providing assurance over data and processes used to record risk, P/L, balance sheet and financial results in support of Global Markets, Corporate Treasury and Corporate Investments businesses. There are seven GMO core functions that are critical in ensuring business process control: New Business Development, Trade Capture Substantiation, P&L Validation, Risk/Position Validation, Balance Sheet Substantiation, Event Monitoring, and Front-Back Process Oversight.
The QS or Quantitative Services Team is part of the Global Business Services. The Risk validation team is responsible for assisting in the accurate computation & validation of risk sensitivities for OTC derivatives which are used for Margin calculations.
Job Description
Team explains risk swings and ensures that there is no abrupt change in day over day risk for the trades. Also there are no trades missing the required sensitivities. They have to validate each control reports generated in central database and reach out to the concerned team for any issue in the risk and resolve them. They have to resolve most of the issues within the SLA so that Margin calculation can go ahead smoothly
Daily Risk Validation and Analysis
Review and validate new risk measures to be used by the SBA model
Explain the daily primary and secondary risk sensitivities for OTC derivatives
Investigate discrepancies in the calculated number by performing independent trade valuation
Communicate daily with FO and technology partners on issues and discrepancies discovered
Process Improvement
Identify issues and control gaps in existing infrastructure
Work with technology team to streamline our processes and enhance data integrity and control
Project Management
Accountable for the success of small projects or sections of larger ones
Responsible for the quality and timeliness of all project deliverables and well as the implementation of relevant project management practices (status reporting, issue tracking etc)
Day to day responsibility for managing the project with line, technology and other partners
Qualification - Master's Degree in Finance, Economics or Financial Quantitative Analysis
FRM/CFA is good to have
Experience - 2-8 years of work experience.
Foundational Skills
Good understanding of financial products like Futures, Options, Indexes, CDS, CDO, FRAs, SWAPs, SWAPTIONs and CAPs/FLOORs.
Knowledge of Financial Risk Management: Credit Risk Model, Value at Risk. Knowledge of Interest Rates, Credit spreads, bond pricing, etc.
Good Communication skills and strong analytical skill
Inquisitive nature, Analytical thinking
Desired skills
Programming knowledge is good to have
Shifts Timings: 10:30-7:30PM
Job Location: Gurugram

Bank of America

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