Director, Global Transactional Foreign Exchange (TFX) Technology

  • Competitive
  • New York, NY, USA New York NY US
  • Permanent, Full time
  • Bank of America Corporation
  • 22 Sep 18 2018-09-22

Director, Global Transactional Foreign Exchange (TFX) Technology

Job Description:

The Director, Global TFX Technology has overall responsibility for designing, building, operating, and maintaining the technology platform used by the TFX business at Bank of America Merrill Lynch (BAML). This role involves leadership of a global team of about 65 people comprised of business analysts, developers, QA, and production support staff. The team is comprised of a mix of permanent Associates and contractors, and is located mainly in Chicago, London, and India, with smaller groups in other U.S. locations including Dallas and San Francisco. Leader location is flexible but some level of travel to be on-location with the teams will be needed. The group owns a portfolio of applications covering all functional aspects of the business including interfaces with upstream payments systems and external venues, market data, market-making, direct trade capture, P&L calculation, risk management, trade booking and lifecycle management, data analysis & management reporting, and supervisory. Work done by the team involves both ongoing support and maintenance of the platform as well as strategic buildout/ development of new capabilities. Overall budget for this group is approximately $9mm per annum, across both base (Run The Bank) and initiative (Change The Bank) work types. The TFX technology team is part of the larger Global G10 FX Technology organization, which itself is part of the Global Fixed Income, Currencies, and Commodities (FICC) technology group, which in turn is part of the Global Banking and Markets (GBAM) Technology group. The Director, Global TFX Technology reports to the Managing Director, Global G10 FX Technology.

The TFX business is responsible for pricing and risk management of FX trades across both BAML payment channels (i.e. those offered to clients in Bank of America's Consumer, GTS, and Global Wealth Management businesses) and non-payment channels (i.e. those offered to large corporate clients in Bank of America's Global Markets business via FIX API directly to our applications). This activity supports 10,000+ clients making international payments on 20 platforms in more than 150 currencies. Projected 2018 revenue for the BAML TFX business is approximately $900mm, with projected growth to more than $1Bn per year starting in 2019. The TFX business is one component of the larger Global G10 FX Trading business, which itself is a line of business within the FICC business group, which in turn is part of the GBAM business unit at BAML.

Responsibilities

  • Partner with front-office FX Sales and Trading to understanding business requirements and priorities
  • Become part of the business leadership team - understand their objectives and help define how technology can and should be used to achieve those objectives
  • Define/shape the Transactional FX (TFX) technology long-term architecture vision and associated strategic change initiatives
  • Understand key application components, platforms and processes for pricing and risk management
  • Lead the annual budget process for TFX technology, including partnering with the business to create investment proposals (cost/benefit analysis, etc.)
  • Work with direct reports (dev leads, business analysts, QA lead, et al) to set priorities and create delivery/resourcing plans
  • Drive the team to deliver on-time, on-budget across the agenda (both initiative and base, including risk/control remediation)
  • Work with the COO/business mgt team to prepare periodic reforecasts of headcount and spend throughout the year
  • Actively manage the group's work and activities to ensure financial and headcount targets are met
  • Partner with other tech groups, both within FX Technology and across the wider FICC, GBAM, and Firmwide technology groups (specifically including, but not limited to, the tech teams supporting payments channels for the Consumer, GTS, and Global Wealth Management businesses), to drive forward the business and the underlying technology platform
  • Establish and lead various management/governance forums as appropriate/required to ensure quality, timely delivery of technology service to the TFX business
  • Implement and maintain a strong culture of risk management and control within the TFX technology team
  • Run governance and compliance programmes by collaborating with compliance officers, auditors, and internal control functions including Global Information Security (GIS), Global Business Continuity & Recovery (GBCR), Chief Data Office (CDO), et al
  • Seek out opportunities to reduce operational risk and BAU costs
  • Recruit, mentor and develop talent in the TFX Technology team
  • Lead the Solutions Delivery Management (SDM) effort for the TFX Tech team - implementation of Agile development methodologies/practices, migration to the bank-wide development toolset, and implementation of increased test automation

Essential skills

  • Strong technology background with an interest in a variety of technologies including Java, Big Data stack, JS/HTML5, Python
  • Experience working in/with integrated Front Office development environments
  • Strong understanding of, and experience with, Agile / SAFE development practices, general software QA practices, and test automation
  • Deep knowledge of FX business and products, and ideally of TFX business/products in particular
  • Strong commercial sense coupled with the desire to innovate - looks to explore and deploy new technologies to solve business challenges to create competitive advantage
  • Strong pricing and/or risk development background, with specific experience directly running development teams
  • Experience working in a highly-regulated, controlled, and risk-managed institution
  • Proven track record of managing large, international teams spanning multiple countries, cultures and time zones
  • Ability to multi-task, prioritize, and operate in a high-pressure front-office trading environment
  • Ability to collaborate effectively with senior managers in both the business and technology, as well as with internal and external service providers
  • Ability to express ideas and thoughts in a clear and concise manner, both written and verbal

Enterprise Job Description
Responsible for developing, modifying and/or maintaining applications in the Global Markets environment. Software developers design, code, test, debug and document programs as well as maintain corporate systems architecture. Employees work closely with business partners in defining requirements for system applications. Employees typically have in-depth knowledge of development tools and languages. Employees are expected to have in-depth global markets product knowledge, and manage a high level of risk. Is clearly recognized as a content expert by peers. Coordinates resources across various applications, operations or projects. Manages employees and makes all decisions on personnel actions including staffing, performance management and comp decision-making. Monitors progress and adjusts resources and priorities accordingly. Typically requires 10+ years of applicable experience. This job code is only to be used for employees supporting Global Markets.

Shift:
1st shift (United States of America)

Hours Per Week:
40