Market Risk Auditor

$154,000 - $206,500/Yr

Disability Solutions - New York, NY

Full-time - Mid Level

New York, NY

About the position

The Market Risk Audit position at Bank of America involves working within a global team of experts focused on traded market risk and valuation. The role requires a risk-based audit skillset to assess the effectiveness of business process controls, manage stakeholder relationships, and perform audit work with a specific focus on Market Risk and Global Markets. The successful candidate will collaborate with various teams and engage with senior management and regulators, contributing to high-profile audits and enhancing testing processes through technology and AI.

Responsibilities

• Assessing the control environment effectiveness of market risk measurement and valuation processes within Global Markets Risk and Global Markets.
• Working flexibly as part of the global team on audit projects as required, including providing subject matter expert support to other teams within Corporate Audit.
• Performing thorough technical analyses and summarizing results in concise and impactful report conclusions for distribution and presentation to senior management and bank regulators.
• Proposing and executing test programs as part of day-to-day audit work.
• Developing and managing independent relationships with stakeholders across first and second lines.
• Maintaining timely and relevant knowledge and awareness of business, industry, and regulatory trends, best practices, and standards.
• Close work with a support development team to enhance and automate testing by leveraging new technologies and artificial intelligence.

Requirements

• Minimum 5-8+ years of experience in risk management, price verification, quant or trading group in a bank or other financial institution, or in audit covering those functions.
• Practical experience managing and performing traded market price risk processes, e.g. market risk exposure measurement, management, or reporting; limit setting, monitoring, or management; regulatory capital requirement calculation; or stress testing.
• Sustained experience effectively communicating with first-line markets trading and second-line risk management audiences/stakeholders.

Nice-to-haves

• An advanced degree in a quantitative field (e.g. PhD or Master's degree in Statistics, Economics, Mathematics, Finance, Engineering, Physics, Computer Science, or related field).
• Experience in computational, engineering, or scientific research or development roles.
• Strong, hands-on programming skills using Python, R and/or C++/C#, with ability to develop code to conduct independent testing and replicate results, and/or the ability to use data analytics applications.
• Knowledge of market risk capital regulation (Basel III implementation through the US Market Risk Rule and the Capital Requirements Regulation in EU and UK jurisdictions).

Benefits

• Industry-leading benefits
• Access to paid time off
• Resources and support for employees to contribute to sustainable growth of the business and communities served.