Counterparty Credit Risk Specialist
- London, England, United Kingdom London England GB
- Permanent, Full time
- Bank of America Merrill Lynch
- 25 Apr 18 2018-04-25
Counterparty Credit Risk Specialist
Corporate Title: Assistant Vice President
Line of Business: Global Markets Financing and Counterparty Credit Risk (GMFCCR)
Here in our London office we are looking for a Counterparty Credit Risk Specialist to join our Global Markets Financing and Counterparty Credit risk (GMFCCR) team.
GMFCCR is responsible for providing risk management, approval & strategic direction for Structured Finance transactions, non-standard transactions and new products, collateral terms, liaising with and acting as subject matter experts for counterparty credit officers.
The successful candidate will be part of the team supporting the Global Mortgages and Securitised Products business in EMEA and APAC. The role is a critical and specialist securitization risk management function including transaction structuring and servicer due diligence. Daily internal interaction with the LOB and external interaction with clients and rating agencies, etc. is required.
The role requires an excellent understanding of securitization products in all asset classes, capital markets traded products and provides the opportunity to increase product knowledge within the risk management framework.
Additionally the team covers the approval of all Credit Linked Notes and Repack notes and the candidate would be expected to absorb a variety of products as new businesses develop.
As a unit aligned to provide product focused rather than counterparty focused risk management, this role provides a unique opportunity to work closely with various sales, structuring and trading business.
As a Counterparty Credit Risk Specialist your main responsibilities will involve:
- Deal screening, detailed review and monitoring of Securitisation Finance lending facilities. This requires an understanding of the structures, the assets and the embedded risks and structural mitigants across various EMEA and APAC legal jurisdictions. Asset classes range from auto loans, residential mortgages, consumer credit, credit cards, etc.
- Credit risk coverage of structured securities: ABS, RMBS and CMBS
- Review of structured securities funding facilities including Repo and Total Return Swap structures
- Acting as an interface / subject matter expert between counterparty credit officers and the business to set appropriate limits, haircuts and margins as required
- Travelling to meet with clients on a regular basis.
As a Counterparty Credit Risk Specialist your skills and qualifications will ideally include:
- Minimum of Bachelor's Degree (or equivalent) in Business, Finance, or Accounting
- Trained Credit Risk person with solid understanding and proven experience in Structured Finance (ABS, RMBS and CMBS) with experience from a Rating Agency and Top-tier Bank. Including excellent knowledge of traded products
- Good understanding of related Structured Finance documentation as well as Trading master agreements
- Experience of reviewing a variety of structured transactions including asset based lending facilities and derivatives facing securitisation vehicles
- Understanding of counterparty risk measurement, and metrics (expected exposure, etc.) and the ability to factor in non-credit specific issues such as capital and accounting treatment into their risk decisioning
- Good knowledge of products such as Intex/rating agency models or an understanding of internally developed cashflow models used to review securitization structures. Solid software skills including Excel, Bloomberg.
- Excellent written and verbal communication skills. Experience of discussing transactions with a front office
- CFA, MBA or similar
- Formal credit training
- Candidate will have held credit approval authority in a prior role
- Candidate should be conversant with key macro issues affecting the banking industry including new Basel rules, IMM, changing regulatory environment etc.
- European languages, especially Italian, Spanish or German
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.