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Capital Management At Bank of America

Location: Charlotte, North Carolina

Job Description

Job Description:

Capital is the foundation upon which Bank of America runs its business, invests, takes risk and generates returns for shareholders. The Enterprise Capital Management (ECM) team was formed in 2011 to provide expertise in the management of the Company’s capital position. The group was created in response to the evolving regulatory environment including the implementation of the Basel III capital framework. In addition, ECM was formed to execute the annual Comprehensive Capital Analysis and Review (CCAR) stress tests administered by the Federal Reserve Bank (FRB) on the largest Bank Holding Companies

The Capital Calculations & Line of Business Capital Management team is part of the Enterprise Capital Management organization. The primary focus of our team is to calculate, analyze and communicate Regulatory and Economic Capital, including calculation of pro forma capital for any upcoming regulations (e.g., Fundamental Review of the Trading Book (FRTB)). Our business partners include the lines of business, Market Risk, Technology, Finance and Middle Office.

Key priorities for our team are monthly and quarterly calculation and reporting of risk-weighted assets (RWA) actuals, including variance commentary and various regulatory reports such as FFIEC 102, FFIEC 101, Pillar 3 etc. The team is also responsible for detailed analysis of our main peer banks leveraging public disclosures, preparing and distributing various internal reports to supplement monthly production, reviewing industry news and proposed or published changes to capital rules and regulations, interpreting regulatory requirements in the context of a business problem and forecasting Global Markets RWA and Supplementary Leverage Exposure (SLE) as well as the firm’s Global Systemically Important Bank (GSIB) capital surcharge as part of the quarterly stress tests and firm-wide capital planning routines. Success requires understanding of regulatory capital and accounting rules and the ability to formulate means by which answers may be derived from large sets of data.

The candidate will join a dynamic environment that offers numerous opportunities to learn, grow, impact and drive changes for the Company. In particular, the candidate will:

  • Be familiar with the capital requirements under different Basel regimes and their practical application for the Company and major U.S. Legal Entities
  • Be responsible for directing calculation, reporting and/or analysis activities to support the Bank's Capital Initiatives. Activities may include analyzing regulatory capital results; interpreting regulatory requirements in the context of a business problem; developing solutions; managing and/or executing implementation.
  • Be involved in advising on capital matters regarding new transactions
  • Be responsible for more complex finance activities around capital calculation, reporting and/or analysis to support the Bank's Capital Initiatives. Supports achievement of business goals by working on more complex activities or projects within the unit and with partners.
  • Be responsible for understanding line of business reporting for Global Markets businesses' covering a holistic view of regulatory capital, economic capital, capital return metrics and financial statement analysis
  • Be responsible for investigating and explaining period-over-period capital and balance sheet movements
  • Focus on team coordination and process improvements working with internal and external technology partners
  • Work closely with business partners and finance to resolve capital questions and communicate capital usage
  • Assist with estimating the capital requirements under FRTB, including data gathering, reconciliations, calculation and analysis.

The team is composed of employees located mostly in New York, Charlotte and San Francisco.

Required Skills & Experience:

  • Minimum of 5-8 years of experience in a financial organization (capital experience is preferable)
  • 2+ years' experience with financial instruments and products traded within the Global Markets business or experience with Credit Risk / Market Risk, Traded Products from a capital perspective
  • Strong financial analysis skills
  • Advanced Excel and data manipulation skills
  • Experience with SQL and working with large databases
  • Experience in preparing concise and effective presentations, including the ability to explain results of complex analysis at a level that resonates across many different audiences
  • Ability to multi-task and prioritize
  • Strong communication skills and ability to influence at all levels of the organization

Desired Skills & Experience:

  • Knowledge of Basel III regulatory capital rules
  • Python experience

Shift:

1st shift (United States of America)

Hours Per Week:

40