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!

Job Description:
The Markets Support Specialist is a member of the team responsible for maintaining the stability of business processes and controls needed to ensure the firm’s initial margin (“IM”) calculations are accurate and consistent with Dodd-Frank’s Uncleared Margin Rules (UMR) in support of our internal stakeholder, the Counterparty Portfolio Management group.

The specialist will be responsible for various business-as-usual deliverables which must be executed in a timely and accurate fashion.

Responsibilities:

Review and verify the model inputs feeding the IM  calculationsIdentify, document and escalate production errors detected during pre and post-calculation routinesPerform periodic controls which exist to prevent and mitigate erroneous IM  calculationsWork directly with the front office and technology teams on issues discovered through technology testing and daily control proceduresAssist with the testing and validation of IM results through each technology releaseIdentify and establish control processes that will mitigate future IM  calculation errorsPerform periodic and ad-hoc reporting to measure and monitor key metrics for the UMR BAU and Contingent Liability spaceProvide enhanced analysis and IM explains to front office and collateral operations teams when counterparty disputes arise for IM calculationsCommunicate effectively with all levels of management, across business units as well as externally to customers of the firm

Required Qualifications:

Minimum undergraduate in Mathematics, Finance or Quantitative fieldAt least 1 years of experience working in a quantitative risk, middle office, or front office roleExcellent communication & analytical skillsExperience working with OTC derivatives/Fixed Income

Desired Qualifications:

Knowledge of Financial Risk Management, Credit Risk Models, Value at Risk (VaR) including market & credit riskStrong technical skills including experience using Excel, VBA and SQLExperience pricing OTC derivative products including futures, options, swaps, credit default swaps, forward rate agreements and swaptionsKnowledge of uncleared margin rules, the ISDA SIMM model, and the BCBS-IOSCO framework is a plusStrives to bring new thoughts and ideas to teams in order to drive innovation and unique solutionsExcels in working among diverse viewpoints to determine the best path forwardExperience in connecting with a diverse set of clients to understand future business needs - is a continuous learnerCommitment to challenging the status quo and promoting positive change.Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client baseBelieves in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world

Skills:

Issue ManagementRisk ManagementBusiness AcumenContinuous ImprovementStakeholder ManagementAdaptabilityAttention to Detail

Shift:

1st shift (United States of America)

Hours Per Week: 

40