Capital Risk Manager

at  Bank of America

ROLE DESCRIPTION:

Operating within BAC’s Risk Framework, understand and drive all components of the end-to-end Capital/Capital Risk management process/program for the Enterprise. As a Risk horizontal team, it is our role to ensure the Enterprise is provided and adheres to our Capital Management policy and any resultant standards and guidance. Key components of the Capital/Capital Risk Management program include appropriate risk identification across the 8 lines of business and legal entities, establishment of effective stress testing processes across a range of scenarios, establishment of risk monitoring processes across the 8 lines of business and legal entities; including the review and challenge of Board and Management Level Risk Appetite Limits for our Enterprise and material entities. In addition to our key Risk Framework responsibilities, ECRM is responsible for completing our independent risk management mandate including ensuring the Company’s capital calculations (spot and forecasted) are appropriate, including any changes to the calculations, up to and including Basel III Endgame.

RESPONSIBILITIES:

• Develop capital rule expertise on Basel III Endgame regulations with specific focus on the Market Risk section known as the Fundamental Review of the Trading Book (FRTB)
• Support EFR coverage of Basel III Endgame by executing capital calculation testing and performing review and challenge of regulatory rule interpretations
• Develop and demonstrate acumen for the identification of risks and mitigants (including market and economic environment and connectivity to other risk stripes)
• Ensure understanding of the business processes that may increase our risk, as well as the mitigants to that risk
• Assist in the establishment of all Enterprise Risk Management Program requirements (see program elements above)
• Coordinate and conduct execution of risk framework activities that are the responsibility of EFR, including but not limited to independent review and risk assessment of FLU owned processes (e.g. capital calculation, capital forecasting, etc.)
• Conduct and ensure appropriate and adequate documentation for all independent risk reviews and risk points of view, including appropriate escalation and communication to Senior Management
• Conduct and document risk’s acceptance and understanding of the capital impacts from new products and new transactions
• Deliver effective review and challenge of front-line owned processes that generate or impact our risk or Capital position
• Enhance the Risk landscape, by ensuring our balance sheet and business model is appropriately stressed across a variety of scenarios, baseline to bankruptcy (resolution)
• Provide subject matter expertise related to Capital risk management process and Capital stress testing to the Risk verticals teams, Corporate Treasury and other partners across the enterprise, in order to drive the execution of the stress testing framework and ensure Risks identified are reflected across all scenarios