Counterparty Credit Risk Manager

  • Competitive
  • London, England, United Kingdom London England GB
  • Permanent, Full time
  • Bank of America Merrill Lynch
  • 24 Apr 18 2018-04-24

Counterparty Credit Risk Manager

Job Description:
Corporate Title: Director
Location: London
Line of Business: Global Markets Risk Management

Here in our London office we are looking for a Counterparty Credit Risk Manager to join our Global Markets Risk Manager (GMRM) team.

Global Markets Risk Management (GMRM) 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 several trading businesses including credit trading of bonds and loans, special situations/distressed, emerging markets, traded products, real estate and shipping secured loans. Additionally, the team is responsible for credit risk analysis of distressed and emerging market counterparties for derivatives or loan originations, as well as analysis and risk management of structured secured term financing transactions.

The position entails risk managing of the EMEA issuer risk portfolio, 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 will require from you engagement 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. You will have the opportunity to expand your exposure in traded products, as well as deepen your credit risk skills to the Credit trading businesses (e.g. securities trading, CDS, loan trading, etc). Additionally, you will work closely with the Market Risk managers for the different lines of business. The role also provides a broader enterprise and legal entity perspective as a risk manager for Issuer Risk (i.e. secondary trading securities).

As a Counterparty Credit Risk Manager your main responsibilities will involve:

Issuer Risk Management:

  • Risk management of the Issuer Risk portfolio in EMEA. Approval, monitoring and investigation of daily exceptions by line of business, and follow-up with traders on any excesses.
  • Performing fundamental credit analysis and assess trading strategies for approval of any limit exceptions.
  • Monitoring 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 to senior risk management.
Transactions:
  • Interacting on a regular basis with the Global Markets Trading desks (including Credit, Special Situations/Distressed, Emerging Markets, Government Bond trading, Short end trading, etc.) as part of the role as Issuer Risk manager, as well as reviewing Non-standard and Complex Transactions. Provide recommendation for approvals and Credit Memo 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; reviewing distressed/restructuring transactions; and approving and risk management of credit asset funding transactions (e.g. CLO and borrowing base facilities).
Corporate Actions:
  • Reviewing waivers/requests for loan positions when the Desk is Public side.
Technology:
  • Acting as 'user' representative for enhancements/improvements for the issuer reporting system (MRX).

As a Counterparty Credit Risk Manager your skills and qualifications will ideally include:
  • Minimum of a Bachelors' Degree (or equivalent), with preferred majors in Business, Finance or Accounting
  • Deep understanding of credit markets and fixed income securities (e.g. bonds, loans, CDS)
  • Experience in performing credit analysis (formal credit-training preferred but not required)
  • Core skill-set required includes strong analytical skills and highly proficient in Excel (models, pivots, etc), and excellent written and verbal communication skills
  • Experience working with systems (e.g. Bloomberg, risk systems, etc)
  • Excellent interpersonal and written/oral communication skills
  • Ability to work in a high-pressured and demanding environment, dealing with multiple things at one time, and with specified deadlines, have a curious nature, be a team player and self-starter
  • Ability to evaluate/monitor the asset quality of the issuer risk portfolio/individual issuers/borrowers in accordance with the company's risk framework
  • Experience evaluating 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 and emerging market counterparties.
  • Ability to review and evaluate Line of Business issuer limits and risk concentrations as per the bank's Risk Framework
  • Solid 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.
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