Trader - Global Funding

Bank of America•Charlotte, NC

1d•Onsite

About The Position

This role is on the Global Funding team within Treasury. The role has responsibility for collaborating with the Senior Traders to execute Bank Funding strategies in the wholesale money markets. Responsible for evaluating funding opportunities with business partners and providing recommendations to traders and management based on thorough analysis of key considerations and constraints. Role requires ability to assess markets effectively and to analyze and communicate potential risks and opportunities. The associate will execute funding transactions, understand relevant operational processes, and report on the impact to the company’s funding and risk profile. Global Funding employees interact daily with internal and external constituents. These include business lines, other Treasury functions such as Balance Sheet Management (BSM), Enterprise Capital Management (ECM) and Global Liquidity Management (GLM), internal control partners, regulators, central banks, investors, and other market participants. Global Funding strives to utilize 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. Global Funding is responsible for all aspects of managing its funding programs to support Enterprise liquidity management objectives. The group actively monitors market conditions, investor sentiment, market liquidity, interest rates and Federal Reserve policy actions to support risk management decisions. The funding products executed span wholesale CDs, commercial paper, FHLB advances, repurchase agreements (repos), and bank notes. Implementation of Treasury funding strategies necessitates flawlessly executing transactions with internal and external counterparties in accordance with liquidity constraints, capital constraints, internal risk metrics, legal limitations and regulatory directives. This role requires critical thinking about the many challenges facing our company and industry with an emphasis on attention to detail, teamwork and strong communication skills. The broader Treasury organization 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, funding portfolio management (diversification, tenors, investors, etc.), trade execution, managing risk, collateral management, and knowledge of broader money markets.

Requirements

Undergraduate degree with quantitative focus; preferably finance, accounting or statistics major
Minimum 2-4 years treasury, finance, or market facing role (bond math, analytics, balance sheet, cash flows)
Strong analytical, investigative problem-solving, and decision making skills
Advanced Excel skills, SQL programming skills, Word and PowerPoint proficiency
General understanding of markets, liquidity, capital, or market risk constructs
Ability to thrive in a fast paced, demanding environment, adapt to changing priorities and demonstrate initiative
Inquisitive, willing to challenge the status quo and strive to improve processes
Ability to work independently and as part of a team, with minimal supervision and efficiently prioritize tasks and seek appropriate guidance
Ability to communicate effectively across a broad range of constituents in verbal, written and presentation formats
Ability to build and maintain strong relationships across the Enterprise
Comfortable leading an initiative as well as playing a support role on a broader team

Nice To Haves

Familiarity with financial regulatory environment (Capital, Liquidity, IRR)
Proficiency with Python coding
Funding planning and market execution experience
Liquidity or Balance Sheet management experience
Bloomberg and other market trading and research platforms
CFA

Responsibilities

Contribute to the development of wholesale funding strategies that cost effectively meet liquidity needs within defined Enterprise limits and guidelines.
Transact and execute issuance of bank funding products, such as negotiable CDs, commercial paper, short-term notes, FHLB advances, and repurchase agreements to meet Global Funding’s goals.
Monitor market conditions and provide assessments of rates markets and applicable risk management strategies.
Develop thorough understanding of Federal Reserve monetary policy.
Analyze impacts to funding markets and bank liquidity from external events.
Perform financial analysis and reporting related to funding and collateral portfolios.
Identify and implement collateral execution strategies that deliver value to Enterprise through risk reduction or economic efficiencies.
Engage with business partners across Enterprise to assess financial resource objectives and develop funding plans that optimally meet Enterprise targets.
Ensure that a robust control environment is supported through compliance with all policies, procedures and directives, and that risk limits and metrics are adhered to.
Identifying and implementing ongoing process improvements to drive process efficiency and ensure activities are accurate and well controlled.