Bank of America

Compensation

Full Description

Job Description: 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! Department Overview: Enterprise Financial Risk (EFR) seeks to deliver effective independent risk management of the activities and processes associated with managing the Company’s capital, liquidity and interest rate risks, including price risk in the CFO managed securities portfolio. As the Chief Risk Officer (CRO) function covering the Chief Financial Officer (CFO) Group, we also bring together a holistic point of view across all seven risk types for the Company’s CFO. The team helps Bank of America grow responsibly through developing our teammates, promoting a diverse and inclusive culture, and approaching our work with intellectual curiosity. EFR delivers its mission through a steadfast commitment to its values: cultivating diversity of thought and valuing different perspectives and experiences; promoting learning, fostering relationships and creativity; developing talent, advancing careers, and creating leaders within Global Risk Management and across the company. Our goal is to ensure that a healthy and sustainable liquidity, capital, and interest rate risk (IRR) profile is maintained through baseline economic scenarios, as well as during times of market and idiosyncratic stress. EFR Team / Division: Interest Rate Risk and CFO Price Risk The EFR Interest Rate Risk and CFO Price Risk team is responsible for oversight of the firm’s overall Interest Rate Risk framework, the management of Interest Rate Risk through the ALM securities portfolio, and any Price Risk created through hedging activities performed by the CFO organization. Role Summary: The Interest Rate Risk and CFO Price Risk team under the Enterprise Financial Risk group within Global Risk Management is looking for a risk analyst responsible for independent risk oversight of the firm’s Interest Rate Risk measurement processes. This role will primarily focus on oversight of both the company’s interest rate risk measurement processes through our internal Earnings at Risk (EaR)/Net Interest Income (NII) and Economic Value of Equity (EVE) calculations as well as investment portfolio actions taken to manage our Interest Rate Risk. Through this role, the candidate will need to develop a strong understanding of how interest rates will impact the earnings and cash flows associated with all positions on the company’s balance sheet including both LOB generated positions (e.g. deposits and loans) as well as securities and derivatives used by the CFO organization to manage our firm’s Interest Rate Risk. Key responsibilities will include reviewing and challenging all critical models and assumptions within the firm’s Interest Rate Risk calculation framework. Required Qualifications: Background in Finance, Engineering, Math, Statistics or Computer Science Familiarity with industry standard Interest Rate Risk measures such as Earnings at Risk (EaR) and Economic Value of Equity (EVE) Experience with duration modeling approaches for banking products such as loans and deposits as well as traded products such as mortgage backed securities Ability to communicate effectively with senior stakeholders and independently lead initiatives Preferred Qualifications: Understanding of implications associated with security and derivative accounting elections Experience with Bloomberg, Python and/or SQL Skills: Analytical Thinking Critical Thinking Portfolio Analysis Risk Analytics Data and Trend Analysis Decision Making Oral Communications Presentation Skills Written Communications Active Listening Issue Management Monitoring, Surveillance, and Testing Regulatory Compliance Technical Documentation Shift: 1st shift (United States of America) Hours Per Week: 40 Pay Transparency details US - NJ - Jersey City - 525 Washington Blvd (NJ2525), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100) Pay and benefits information Pay range $110,000.00 - $160,000.00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible 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. Benefits 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. Privacy Statement: https://careers.bankofamerica.com/en-us/privacy-notice 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! Partnering Locally Learn about some of the ways Bank of America is making a difference in the communities we serve. Global Impact Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates. Diversity and Inclusion Each employee brings unique skills, background and opinions. We see diversity and inclusion as our platform for innovation and a key component in our success. Our Values Learn about our four values that represent what we believe. Pay Transparency: https://careers.bankofamerica.com/en-us/pay-transparency