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Enterprise Capital Management - Finance Manager

New York, New York

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:

Enterprise Capital Management (ECM) is a global team of more than 100 professionals responsible for the efficient and prudent management of the Corporation's as well as its subsidiaries' capital across the enterprise globally. ECM implements the Board’s capital management strategy including issuance, redemption or repurchase of common stock and other capital instruments. ECM works closely with lines of business and guides them to efficiently and proactively manage the enterprise's capital including design and implementation of capital allocation methodologies. ECM also recommends capital related financial resource limits to senior management. In addition, ECM produces and monitors regulatory and internal economic capital metrics including capital adequacy ratios, leverage exposure and risk-weighted assets and oversees the end to end capital measurement process across the enterprise. Partnering with other control functions, ECM manages external disclosures related to capital management including 10Q, 10K, Pillar 3 disclosures and other regulatory filings‎. ECM interfaces with banking regulators globally on all capital related matters.

This role resides within Global Markets Capital management team (a subset of Enterprise Capital Management). Candidate will focus on driving complex calculations and reporting of capital for Global Markets transactions, including consideration of any new regulations.

Line of Business Responsibilities:

• Serve as the subject matter expert on risk-weighted assets for these business

• Solid knowledge of current Basel capital rules, including counterparty credit risk calculations , CVA and market risk rules

• Solid knowledge of new Basel capital rules, including SACCR and FRTB

• Identify and drive execution of RWA optimization opportunities (both advanced and standardized); evaluation and monitoring GSIB capital surcharge

• Collaborate with business partners including line of business, risk, legal and finance and data/calculations teams to ensure appropriate RWA calculations and represent capital on cross-functional initiatives

• Provide detailed / technical analysis of the impact of new or changing regulations and develop options for potential advocacy, including QIS work

• Build relationships with partners and ensure appropriate level of capital knowledge

General Responsibilities:

• Produces and monitors regulatory and internal capital metrics including capital adequacy ratios, leverage exposure, total loss-absorbing capacity (TLAC), and risk-weighted assets (RWA)

• Oversees capital measurement and model implementation for RWA calculations, baseline, and stress forecasts and works with Global Risk Analytics (GRA) and Technology and Data Management to propose, design, and test enhancements on the capital and model implementation process

• Provides key metrics and data to Centralized Regulatory Reporting (CRR) and Investor Relations for external regulatory filings, releases, and disclosures, including Federal Financial Institutions Examination Council (FFIEC) 101/102, HC-R, Pillar 3, 10-Q/K, and Y-14A

• Partners with Lines of Business (LOBs) to integrate capital considerations into the LOBs' strategic plans and to advise and execute on RWA optimization strategies

• Develops Capital Plans, Internal Capital Adequacy Assessment Processes (ICAAPs), Resolution Plans, and Recovery Plans, creates capital content, and monitors ongoing capital adequacy

• Serves as a subject matter expert on regulatory requirements and calculations for capital and/or RWA including exposure areas, such as Market Risk, Counterparty Credit Risk, Retail, Securitization, and Securities

• Maintains capital management processes and controls and addresses inquiries from Risk, Corporate Audit, and external auditors

Required Qualifications:

• 8+ years of experience with financial markets products and businesses

• Technical background, including Engineering or Technical Sciences

• Proficiency in SQL

• Experience working with large databases, and identifying and correcting data problems

• Solid analysis, communication, organization, and presentation skills

Desired Qualifications:

• Experience in Capital Management, or Credit or Market Risk Management

• Proficiency in Python and Excel VBA

• Knowledge of derivative products and risk management

• Project management experience

Skills:

• Analytical Thinking

• Data and Trend Analysis

• Financial Forecasting and Modeling

• Regulatory Compliance

• Scenario Planning and Analysis

• Business Acumen

• Interpret Relevant Laws, Rules, and Regulations

• Policies, Procedures, and Guidelines

• Reporting

• Risk Management

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

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This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.