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Prime Brokerage Risk Manager

Bank of America

New York, NY
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Job Details

Company Bank of America

Job Title Prime Brokerage Risk Manager

Jobid bankofamerica-16026240NewYorkNY

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

**Assistance for Applicants with Disabilities**

Bank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please visit the Applicants with Disabilities page at .

**Diversity & Inclusion**

At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

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Success begins with building relationships.

At Bank of America, our customers are at the center of everything we do. Our focus is on helping each one find the right financial solutions. With a wide range of career opportunities available, we invite you to realize your career goals with us while assisting customers with what matters most to them.

Welcome to Careers at Bank of America.

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