Product Specialist II-Counterparty Credit Portfolio Management

Bank of America • New York, NY

26d • $70,000 - $132,000 • Onsite

About The Position

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 Markets Credit (GMC) is responsible for ensuring a comprehensive and consistent credit underwriting and monitoring process for Global Markets lending and trading activities. The GMC Portfolio Management Team is responsible for credit portfolio management, data analysis, and reporting of the GMC lending and trading portfolios. The Associate Funds Portfolio Manager will be responsible for the creation, maintenance and improvements of reports and data analysis for the Hedge Fund and Regulated Fund portfolios. As a Funds Portfolio Manager (PM), Associate, you will be integral in delivering Hedge Fund and Regulated Fund related counterparty credit risk reports, portfolio reviews, and presentations on a timely basis. The Associate will contribute to a robust monitoring environment through analysis and written updates to management, while working closely with Credit Officers and Portfolio Managers. You will develop an understanding of Global Markets Credit as you analyze our Hedge Fund and Regulated Fund portfolios. The experience level of individuals in this role typically ranges from three to six years. Associated role title includes Associate Portfolio Manager.

Requirements

• At least 3 years of experience in counterparty credit risk, market risk, or credit portfolio management; at least 1 year experience with traded products portfolios (Hedge Funds, Regulated Funds), with an understanding of potential future exposure, stressed exposures, margin, and trading sensitivities, as well as trading agreements (ISDA, GMRA/MRA, FIA, PB)
• Strong understanding of traded products and businesses, including an understanding of Prime Brokerage
• Ability to understand and synthesize complex data sets
• Proficiency with SQL, Word, Excel, and PowerPoint, along with ability to quickly learn new programs and applications.
• Desire to improve and streamline processes, and to troubleshoot independently
• Data and Trend Analysis
• Price Verification and Valuation
• Research Analysis
• Analytical Thinking
• Collateral Management
• Issue Management
• Policies, Procedures, and Guidelines Management
• Negotiation
• Research
• Risk Management
• Valuation
• Ethics and Practice Standards

Nice To Haves

• Proficiency in VBA, Tableau, Alteryx, and Python is a plus.

Responsibilities

• Prepare and deliver critical risk reporting with accuracy and timeliness to support a strong risk monitoring environment; analyze results to identify key drivers and conduct deeper investigation where needed
• Develop a strong understanding of Hedge Fund and Regulated Fund credit underwriting and monitoring process, as well as the stress testing framework and methodologies employed to the trading portfolio; identify and help implement opportunities to enhance efficiency
• Enable proactive risk management by evaluating credit risk, market risk/sensitivities, and stresses; partner with the broader team to produce recurring portfolio level and counterparty based combined credit and market risk reporting
• Collaborate closely with Credit Officers and other stakeholders to refine, adapt, or create specialized reporting/monitoring, data analysis, and data solutions in a fast paced, evolving environment
• Support data integrity efforts by identifying, escalating, and driving resolution of data issues, coordinating with various partner groups to ensure timely remediation
• Leverage AI solutions available bank-wide to drive efficiencies and reduce operational risks, ultimately resulting in time savings
• Uphold a strong control environment by designing and executing control checks, and developing and maintaining comprehensive process documentation
• Produce ad hoc reporting and presentations to meet emerging business needs and respond to shifts in the risk environment; contribute materials prepared for regulatory examinations and senior management requests

Benefits

• This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
• This role is currently benefits eligible.
• We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees