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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Responsibilities
- Serve as the subject matter expert on risk-weighted assets for these business
- Solid knowledge of current Basel capital rules, including counterparty credit risk calculations, CVA and market risk rules
- Solid knowledge of new Basel capital rules, including SACCR and FRTB
- Identify and drive execution of RWA optimization opportunities (both advanced and standardized); evaluation and monitoring GSIB capital surcharge
- Collaborate with business partners including line of business, risk, legal and finance and data/calculations teams to ensure appropriate RWA calculations and represent capital on cross-functional initiatives
- Provide detailed / technical analysis of the impact of new or changing regulations and develop options for potential advocacy, including QIS work
- Build relationships with partners and ensure appropriate level of capital knowledge
- Produces and monitors regulatory and internal capital metrics including capital adequacy ratios, leverage exposure, total loss-absorbing capacity (TLAC), and risk-weighted assets (RWA)
- Oversees capital measurement and model implementation for RWA calculations, baseline, and stress forecasts and works with Global Risk Analytics (GRA) and Technology and Data Management to propose, design, and test enhancements on the capital and model implementation process
- Provides key metrics and data to Centralized Regulatory Reporting (CRR) and Investor Relations for external regulatory filings, releases, and disclosures, including Federal Financial Institutions Examination Council (FFIEC) 101/102, HC-R, Pillar 3, 10-Q/K, and Y-14A
- Partners with Lines of Business (LOBs) to integrate capital considerations into the LOBs' strategic plans and to advise and execute on RWA optimization strategies
- Develops Capital Plans, Internal Capital Adequacy Assessment Processes (ICAAPs), Resolution Plans, and Recovery Plans, creates capital content, and monitors ongoing capital adequacy
- Serves as a subject matter expert on regulatory requirements and calculations for capital and/or RWA including exposure areas, such as Market Risk, Counterparty Credit Risk, Retail, Securitization, and Securities
- Maintains capital management processes and controls and addresses inquiries from Risk, Corporate Audit, and external auditors
Requirements
- 8+ years of experience with financial markets products and businesses
- Technical background, including Engineering or Technical Sciences
- Proficiency in SQL
- Experience working with large databases, and identifying and correcting data problems
- Solid analysis, communication, organization, and presentation skills
Nice-to-haves
- Experience in Capital Management, or Credit or Market Risk Management
- Proficiency in Python and Excel VBA
- Knowledge of derivative products and risk management
- Project management experience
