Market Risk Auditor
Company: Disability Solutions
Location: New York
Posted on: October 16, 2024
Job 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. 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!Job Description:Market Risk Audit is a global
team of subject matter experts in traded market risk and valuation
within Corporate Audit. We are looking for someone with a
risk-based audit skillset and traded market risk & valuation
subject matter expertise to perform audit work (design & execute
test programs; develop & communicate evidenced-based conclusions on
the effectiveness of business process controls; validate issues;
manage stakeholder relationships) with a specific focus on the
Market Risk and Global Markets areas as part of the global Market
Risk Audit team. The successful candidate will be expected to work
closely with team members across the globe and engage with key
partners in the Corporate Audit organization, including the Global
Markets Audit, Model Risk Audit and Technology Audit teams.
Existing members are drawn from wide range of quantitative
backgrounds, and the team comprises former traders, market risk
managers, front office and finance quants, and regulators. The team
leads many high-profile audits comprising both regulatory-required
and functional work, with continual senior management and
regulatory focus. The role will provide the successful candidate
exposure both within Audit and more widely in the
firm.Responsibilities:
- Assessing the control environment effectiveness of market risk
measurement and valuation processes within Global Markets Risk and
Global Markets, providing independent challenge to existing
approaches as needed.
- 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.Skills:
- Business Acumen
- Audit Planning
- Internal Audit Review
- Critical Thinking
- Risk Analytics
- Risk Modeling
- Adaptability
- Collaboration
- Problem Solving
- Risk Management
- Written CommunicationsAdditional Skills:
- Has strong knowledge of financial instruments and financial
risk management principles, including exposure to Global Markets
products, both derivatives and securities; a deep understanding and
knowledge of market risk measures and fair valuation; and a strong
comprehension of financial modelling fundamentals.
- Understands internal audit's role and objectives and how
risk-based auditing is used to assess business process control
environment effectiveness.
- Has strong presentation skills, with the ability to communicate
clearly and effectively both verbally and in writing; ability to
produce high quality technical documentation.
- Has the ability to problem solve; the ability to work both as a
self-starting individual and as part of an integrated team;
excellent attention to detail; a positive outlook and an ability to
work in a fast-paced environment/multi-task under pressure; and is
an intellectually curious, critical thinker.Required
Qualifications:
- Has a 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, or
minimum 5-8+ years of alternative relevant experience.
- Has 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.
- Has sustained experience effectively communicating with
first-line markets trading and second-line risk management
audiences/stakeholders.Desired Qualifications:
- 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), awareness of
requirements in the Fundamental Review of the Trading Book and the
wider regulatory environment (e.g., Sound Practices for Model Risk
Management, SR 11-7).Minimum Education Requirement: Master's degree
in related field or equivalent work experienceShift:1st shift
(United States of America)Hours Per Week: 40Pay Transparency
detailsUS - NY - New York - 114 W 47TH ST (NY8114)Pay and benefits
informationPay range$154,000.00 - $206,500.00 annualized salary,
offers to be determined based on experience, education and skill
set.Discretionary incentive eligibleThis 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.BenefitsThis 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.
Keywords: Disability Solutions, Stratford , Market Risk Auditor, Accounting, Auditing , New York, Connecticut
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