Senior Asset Liability Associate - International Balance Sheet

Job description

Job Description:

Job Title: Senior Asset Liability Associate - International Balance Sheet Management

Corporate Title: Vice President

Location: Dublin

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!

Location Overview:

Overlooking the spectacular Iveagh Gardens with access to all amenities in the beating heart of central Dublin is our Park Place office. Travel options include the LUAS, Dublin Bus networks as well as the Dublin Bikes station, positioned just outside our front doors. As part of our commitment to supporting staff travel to and from work in the most sustainable way possible, we also provide tax saver tickets as part of our award-winning benefits package which means getting to work has never been easier.

The Team:

Balance Sheet Management (BSM) is a division within the CFO group responsible for providing executive management with accurate and timely forecasts of the balance sheet and Net Interest Income (NII). Another critical BSM function is the measurement and analysis of Interest Rate Risk (IRR) using various methods. This information provides the framework that allows the company to position its balance sheet consistently with its risk appetite, and expectations for changes in interest rates.

BSM maintains close partnerships with various groups across the enterprise, providing key input to critical processes and strategic decisions. These partnerships focus on the following: (1) balance sheet composition and interest rate risk strategy, (2) strategic planning for the company's three-year outlook with Corporate Planning and Finance, (3) setting the right strategy to accurately measure the profitability of assets and liabilities to ensure efficient usage of the balance sheet, (4) stress testing the balance sheet under adverse economic scenarios and, (5) producing the balance sheet and NII forecast.

The International Balance Sheet Management team is comprised of 26 employees covering a range of expertise including interest rate risk management, stress testing, forecasting, treasury analytics and providing support to all regional treasurers.

Role Overview:

This role will be responsible for contributing to the successful delivery of interest rate risk analytics to fulfil all internal and regulatory needs across the two major Bank of America entities in Europe by providing quantitative analytics for senior management to monitor balance sheet positioning, as well as measure and report on Credit Spread Risk in the Banking Book and Interest Rate Risk in the Banking Book (IRRBB) to local Regulators. The successful candidate will also contribute to fulfilling similar obligations across the international spectrum. The three key areas of interest rate risk measurement being risk associated with NII, Economic Value of Equity (EVE), and tenor basis risk.

Responsibilities:

• Contribute to the successful delivery of Interest Rate analytics, forecasting and all disciplines relevant to the Balance Sheet Management (BSM) organization. Stakeholders include risk executives, EMEA CFOs and treasurers and all other functions of Treasury/CFO Group
  
• Point of contact for BSM stakeholders regarding balance sheets, country specific regulations, reporting and analytics
  
• Working within the International team to implement and maintain controls for reporting that meets regulatory and internal policy requirements. This will be a collaborative effort requiring contributions across multiple teams and geographic locations, requiring application of project management, communication, and leadership skills
  
• Represent BSM in various regional, international, and global workstreams and committees including the Interest Rate Risk Working Group
  
• Proactively develop enhancements to processes and controls to promote efficient and well governed workflows
  
• Contribute to design, development, maintenance and implementation of models, critical use spreadsheets, desk top procedures and other documentation
  

What we are looking for:

• Bachelor's Degree or higher (or equivalent experience in Finance, Business, Accounting, Quantitative, or Economics)
  
• Proven experience in banking industry with exposure to products driving interest rate and data analytics
  
• Understanding of financial market dynamics and key drivers of interest rate risk
  
• Exposure to global banking and/or global markets products
  
• Comprehension of financial statements in a banking setting with focus of the balance sheet composition
  
• Exposure to forecasting of interest rate sensitive products.
  
• Proven experience in data analytics with emphasis on design, testing, and implementation of calculations related to net interest income, cash flows, or risk analytics.
  
• Experience working globally and providing leadership across multiple geographies.
  
• Ability to drive project goals with minimal oversight including pre-emptive/emerging needs that have significant regulatory impact.
  
• Inquisitive, willing to challenge the status quo.
  
• Self-starter to develop and drive the agenda to elevate deliverables and controls with and ability to manage multiple priorities in a time sensitive environment.
  

Benefits of working at Bank of America:

UK

• Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
  
• Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
  
• 20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum
  
• The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
  
• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
  
• Access to an Employee Assistance Program for confidential support and help for everyday matters
  
• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
  
• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK's most iconic cultural institutions and exhibitions.
  
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.
  

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 sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants 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.

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