Counterparty Credit Risk Specialist
- London, England, United Kingdom London England GB
- Permanent, Full time
- Bank of America Merrill Lynch
- 19 Mar 18 2018-03-19
Counterparty Credit Risk Specialist
Corporate Title: Vice President
Line of Business: Global Markets Risk Management
Here in our London office we are looking for a Counterparty Credit Risk Specialist to join Global Markets Risk Management team (GMRM). The GMRM team is a specialized Credit Risk team within Global Markets Risk.
The role is within the EMEA Issuer Risk team that is responsible for risk management of issuer (trading securities) exposure and limits; and covers credit trading businesses, bonds and loan trading, special situations, emerging markets, traded products, real estate and shipping structures, as well as analysis for structured financing transactions as well as credit risk analysis of distressed and emerging market counterparties for derivatives or loan origination transactions.
The position entails assisting in risk managing of the EMEA issuer risk portfolio, initial credit analysis on various structured transactions and single issuer credits, as well as providing portfolio analysis/view for internal and external regulatory requests.
The role involves interaction with various areas across the bank and other regions, including the Global Markets trading businesses, as well as other support areas (e.g. compliance, legal, operations, finance, etc.) and Risk team members in the US/Asia. The associate will have the opportunity to gain experience in traded products, as well as expanding their credit risk skills to the Credit trading businesses. The role also provides a broad enterprise and legal entity perspective as a risk manager for Issuer Risk (i.e. secondary trading securities).
As a Counterparty Credit Risk Specialist your main responsibilities will involve:
- Issuer Risk Management: Risk manager of the Issuer Risk portfolio in EMEA. Monitoring and investigation of daily exceptions by line of business, and follow-up with traders on any excesses. Perform fundamental credit analysis and assess trading strategies for any limit exceptions. Monitor the EMEA portfolio, looking at concentration risks, country risk, trends, etc.; as well as single name issuer risk
- Monitoring: Issuer risk contributions to various regulatory, senior risk management committees, and ad hoc presentations/dashboards
- Transactions: Interact on a regular basis with the Global Markets Trading desks (including Credit, Special Situations/Distressed, Emerging Markets, Govt bond trading, Short end trading, etc.) as part of the role as Issuer Risk manager, as well as reviewing Non-standard Transactions. Provide recommendation for approvals and CAM write-ups
- Non-standard transactions could include reviewing large secondary loan portfolio acquisitions; purchase of Non-performing Loan portfolios or receivables; underwriting loan originations or new money requests or non-recourse secured financing transactions; and reviewing distressed/restructuring transactions
- Corporate Actions: Review waivers/requests for loan positions when the desk is public side
- Technology: a 'User' representative for enhancements/improvements for the issuer reporting system (MRX)
As a Counterparty Credit Risk Specialist your skills and qualifications will ideally include:
- Minimum of a Bachelors' Degree (or equivalent), with preferred majors in Business, Finance or Accounting, but not necessary if work experience in the relevant competencies
- Experience in Corporate Credit Analysis (formal credit-training preferred but not required)
- Basic understanding of credit markets and fixed income securities (e.g. bonds, loans, CDS)
- Core skill-set required includes solid analytical skills and highly proficient in Excel (models, pivots, etc.), and excellent written and verbal communication skills
- Comfortable working with systems (e.g. Bloomberg, risk systems, etc.)
- Excellent interpersonal skills
- Ability to work in a high-pressured and fast pace environment, dealing with multiple things at one time
- Have a curious nature, and be a team player and self-starter
- Understanding of the Bank's policies and procedures to manage risk and mitigate losses
- Ability to evaluate/monitor the asset quality of the issuer risk portfolio/individual issuers/borrowers in accordance with the company's risk framework
- Ability to evaluate market risk sensitivity of the portfolio in accordance with the bank's risk framework, including price risk, basis risk, option risk and market liquidity risk, etc.
- Experience reviewing and evaluating Line of Business issuer limits and risk concentrations as per the bank's Risk Framework
- Ability to evaluate emerging market counterparties
- Broad understanding of other risks including, reputational, compliance, and regulatory
About Bank of America Merrill Lynch
Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses.
The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch's responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.
If you're interested in this opportunity please send your details to us by applying online.
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 mindset 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, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.