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Counterparty Credit Risk Specialist - Jersey City New Jersey
Company: Disability Solutions
Location: Jersey City, New Jersey
Posted On: 04/28/2024
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:The Financial Market Utility (FMU) Risk Team is committed to responsibly managing the governance and risk oversight for all Bank of America's FMU memberships and for monitoring compliance with laws, rules and regulations outlining the Bank's responsibility for managing Risk to FMUs. FMUs are multilateral systems or infrastructures used for transferring, recording, clearing and settling payments, securities, derivatives and other financial transactions or instruments. Examples of FMUs include the Depository Trust Corporation (DTC) a Central Securities Depository and CLS Bank International, a Payment System.As a team, we oversee both the firm's direct and indirect memberships to make sure risk is managed well across all lines of business and that risk events are addressed and escalated to senior management. FMUs are critical to the operation of global financial markets and Bank of America is highly dependent on FMUs to pursue its business strategy. As such, the candidate will join a dynamic team whose responsibilities are constantly evolving and aspiring to be best in class in managing FMU Risk.Given the ever-evolving business environment, we are looking to welcome a high performing candidate to the team to enhance the FMU Risk framework while supporting delivery of BAU governance processes and risk oversight.The FMU Risk team consists of motivated, detail oriented subject matter experts who are excited to welcome a new member to the team. We seek a candidate who is eager to learn, add value and grow in their career. The type of teammate that would thrive in this type of environment should: - Demonstrate a keen interest in financial markets and risk management
- Have strong analytical and presentation skills using Microsoft Office suite
- Strategically develop and foster communication across the organization
- Be able to work independently as well as participating in a cross-functional team environment
- Excel at working in a fast-paced environment and demonstrate an ability to navigate new systems and processes quicklyThe team is responsible for a diverse body of work concentrated on effectively managing risk for all FMU relationships. As part of this team you will be responsible for:
- Risk management oversight for a portfolio of direct/indirect FMU memberships, and coordinating holistic reviews of FMU due diligence
- Working with global business partners to bring FMU related initiatives through Risk governance committees
- Tracking and escalating risk issues, including operational outages, impacting FMU activities
- Identifying and remediating FMU risk management gaps, and contributing to the remediation of existing Issues and Initiatives
- Ensuring compliance with regulatory requirements around FMU risk management
- Engaging and fostering a network of stakeholders across all major lines of business, such as Global Markets, Global Transaction Services, Corporate Treasury, working with control partners in Compliance & Operational Risk, Global Technology and Operations and LegalRequired Qualifications:
- Strong oral and written communications skills to support periodic reporting requirements
- Ability to collaborate with broad group of internal stakeholders
- Ability to document decisions and maintain accurate records
- Intellectual curiosity and willingness to challenge the status quoDesired Qualifications:
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