Head of FRTB Centre of Excellence

2 weeks ago

east midlands england United Kingdom Bank of America Full time

Job Description:

Job Title: Head of FRTB Centre of Excellence

Location: London

Corporate Title: Vice President/ Director

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.

Location Overview:

Our London office is based just a stone's throw from the magnificent St. Paul's Cathedral on bustling King Edward Street. Here you'll find modern workspaces and a state-of-the-art auditorium space.

The Team:

Global Regulatory Reporting is responsible for ensuring efficient and proactive management of economic and regulatory capital, and delivering timely and accurate reporting to regulators across EMEA. The candidate will join the Finance department in London as part of the Business Operational Readiness and Operational Excellence team, working on the FRTB program which is the Market Risk element of BASEL 3 the regulation written in response to the Financial Crisis.

Responsibilities:

  1. To deliver the FRTB centre of excellence a lead role is required to manage the four key elements of reporting across the various regions: Default Risk Charge (DRC), Credit Valuation Adjustment (CVA), Residual Risk Add On (RRAO), and Sensitivities Based Method (SBM).
  2. The centre of excellence is a key concept to ensure the specific knowledge is kept high in the smaller countries where this knowledge will be in short supply.
  3. One core production team in India will produce the reporting across each of the four areas and will be responsible for L1 reviews.
  4. Each onshore location will have L2 and L3 reviewers, one for each of the areas in the material countries.
  5. The lead role is required to support the L2 and L3 reviewers in the smaller countries to ensure standards are kept consistently high across the group.

What we are looking for:

  1. In depth knowledge of all elements of FRTB.
  2. High levels of project expertise to work through transition of project parallel run to BAU in a staggered approach as regulation goes live in each country.
  3. Understanding of regulatory differences across countries.
  4. Experience of working across multi country teams.

Preferred skills:

  1. Prior experience working within Agile methodologies / frameworks.
  2. Experience of working within a rapidly changing environment where priorities may change quickly.
  3. Understanding of high profile regulations (FinRep, CoRep, AnaCredit etc).
  4. Experience of working within challenging and dynamic organisational contexts.

Benefits of working at Bank of America:

  1. Private healthcare for you and your family plus an annual health screen.
  2. Competitive pension plan, life assurance and group income protection cover.
  3. 20 days of back-up childcare including access to school holiday clubs.
  4. The ability to change your core benefits as well as the option of selecting a variety of flexible benefits.
  5. Access to an emotional wellbeing helpline and Employee Assistance Program.

Bank of America:

Good conduct and sound judgment is crucial to our long term success. We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment.

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