Global Markets Credit Risk

Bank of America
Published
24 February 2024
Location
London, UK

Description

Job Description: Job Title: Global Markets Credit Risk Corporate Title: Analyst/Associate Location: London Company Overview: 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 The Team: Global Markets Credit is a team of 100 people and are responsible for ensuring robust and consistent credit underwriting for Global Markets lending activities, particularly on a non-recourse basis. This includes underwriting Structured Financing Transactions, Non-Recourse Lending to SPVs, Specialty Finance, Hedge Funds and Regulated Funds (Real-Money Accounts), Central Counterparties (CCPs), and Municipal Banking and Markets. Role Description: Within Global Markets Credit the Specialty Finance coverage area focuses on underwriting structured loans collateralised by a variety of assets and trading exposures to a broad universe of financial institutions, institutional investors, and asset managers. The product scope includes margin loans (single stock, equity baskets), Fund of Hedge Funds financing, trading exposures for investment and/or hedging purposes and Credit Assets Financing. You will be expected to develop subject matter expertise in securitized lending/trading activities and work closely with various lines of business, banking and risk partners. Responsibilities: Support the credit underwriting and portfolio management and monitoring of transactions originated by the Equities and Credit Asset Financing Line of Business Review new business opportunities, provide feedback on structure/terms and client selection in the screening process to ensure transactions fit within risk appetite Review transaction structures, stress scenarios, financial models, and loan documentation Prepare Credit Approval Memorandums and rating scorecards for approval including new transactions, modifications and renewals Provide ongoing monitoring of transactions including client and asset performance Engage with various partners/stakeholders including GCIB Enterprise Credit Officers for recourse obligors, Enterprise Credit Risk, Global Markets Risk and Legal Provide input into internal governance forums, the drafting of policies and procedures, audits and regulatory meetings Coordinate periodic and/or adhoc reporting such as quarterly portfolio reviews Provide GMC input into key projects/initiatives. What we are looking for: Relevant prior experience may include: credit risk management, structuring, trading, asset management, origination, or public rating agencies A good understanding of the global markets, structured transactions including asset based lending and derivative products. In addition an understanding of counterparty risk measurement and metrics (Potential exposure) and legal documentation Skills that will help: Confident self-starter, with the ability to manage issues in a timely manner and with a desire to grow, learn, and take on increasing levels of responsibility You will have the ability to communicate effectively with all levels of risk, support, and business partners Proficiency with Bloomberg, Word, Excel and PowerPoint, Bank of America: Good conduct and sound judgment is crucial to our long term success. It's important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well. We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of gender/sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, membership of the Traveller community, age, sexual orientation, pregnancy or maternity, civil status, socio-economic background, responsibility for dependants, family status or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience. We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements. Learn more about this role

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