Prime Brokerage Risk Manager
Bank of America
Company Bank of America
Job Title Prime Brokerage Risk Manager
Location: New York, NY, 10176, USA
Description **Job Description:**
**A.** **Role Overview**
BAML is seeking a Prime Brokerage Risk Manager to cover the Equity Asset Management Services (EAMS) business within Global Banking & Markets. The EAMS business includes Prime Brokerage, the Professional Trading Services Group, Listed Derivatives & OTC Clearing, Fixed Income Prime Brokerage, FX Prime Brokerage and Global Custody.
The candidate would be expected to integrate into the existing team performing the following duties:
1. Account Reviews
Perform risk analysis on client portfolios to determine appropriate collateral requirements including deep-dives into individual clients and client portfolios across EAMS which include:
Hedge Fund strategies ranging from fundamental long short equity, event driven, relative value, quantitative market neutral, CB Arbitrage, Fundamental and Relative Value Credit and Fixed Income
Professional Traders including equity, ETF and option market making, event driven, index relative value and high frequency trading
Work with Client Service, Sales and Clients directly to communicate and negotiate any required margin changes
2. Margin Methodology/Models
Develop and specify rules based and risk based margin methodologies across different asset classes to fit risk appetite and policy
Work with stakeholders to implement margin methodologies including
o Technology to develop functional specifications for infrastructure implementation
o Margin Operations to develop client reporting and workflow
o Global Risk Analytics for model suitability and assessment
o Model Risk Management for model approval
o Client Service and Salespeople in assisting with client deployment
3. Infrastructure Development
Develop and specify requirements for improvements in risk measurement including
o Risk Dashboards to consolidate margin data across platforms and enforce uniformity of risk measurement and management
o Margin methodologies and calculators
o Stress testing and scenario analysis
o Streamlining margin and risk infrastructure including Intraday Risk platform
Work with Technology to implement and test infrastructure improvements
4. Client Negotiations
Set market, liquidity and operational risk policy and ensure policy is appropriately codified in client contracts including Prime Brokerage Agreements, Term Margin Agreements, ISDAs, Futures & OTC Clearing Agreements
Serve as key escalation point-of-contact for Agreements & Documentation negotiators and client servicing personnel and make decisions on any exceptions
5. Real Time Monitoring
Set intraday risk policy and appetite
Monitor intraday risk
Work with Technology, Client Service, Sales and Onboarding Teams to ensure relevant client intraday risks are captured and monitored
1. Minimum 7 years experience directly in Prime Brokerage or Futures, Options & OTC Clearing experience
2. Background in Financial Risk Management and/or Trading
3. Derivatives knowledge & experience, and experience with quantitative analysis
4. Demonstrated interest in markets and macro trends and the ability to assess impact on client portfolios
5. Ability to communicate effectively with senior stakeholders and work with clients and client facing personnel including Client Service, Sales and Relationship Management to communicate risk appetite and margin policy
6. Undergraduate degree in a quantitative discipline (Mathematics, Engineering or Computer Science)
7. Graduate Degree in Finance or Economics preferred
**Posting Date** : 12/21/2016
**Location** : US-NY-New York
**Travel** : No
**Full / Part-time** : Full time
**Hours Per Week** : 40
**Shift** : 1st shift
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