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Job Details

Quantitative Services Professional Product Trade Control/Collateral - Chicago IL

Company name
Bank of America Corporation

Location
Chicago, IL

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Profile

Job Description:

The QS Uncleared Margin Rule (UMR) Professional is a member of the team responsible for maintaining the stability of business processes and controls needed to ensure the firm?s initial margin calculations are accurate and consistent with Dodd-Frank?s Uncleared Margin Rules (UMR) in support of our internal stakeholder, the Counterparty Portfolio Management group. The analyst will be responsible for various business-as-usual deliverables which must be executed in a timely yet accurate fashion.

Responsibilities

Review and verify the model inputs feeding the IA calculations

Identify, document and escalate production errors detected during pre and post-calculation routines

Perform periodic controls which exist to prevent and mitigate erroneous IA calculations

Work directly with the front office and technology teams on issues discovered through technology testing and daily control procedures

Assist with the testing and validation of IA results through each technology release

Identify and establish control processes that will mitigate future IA calculation errors

Perform daily and ad-hoc reporting to measure and monitor key metrics for the UMR BAU space

Provide enhanced analysis and IA explains to front office and collateral operations teams when counterparty disputes arise for IA calculations

Requirements

Undergraduate in Mathematics, Finance or Quantitative field

At least 3 years of experience working in a quantitative risk, middle office, or front office role

Excellent communication & analytical skills

Knowledge of Financial Risk Management, Credit Risk Models, Value at Risk (VaR) including market & credit risk

Strong technical skills including experience using Excel, VBA and SQL

Experience pricing OTC derivative products including futures, options, swaps, credit default swaps, forward rate agreements and swaptions

Experience working with OTC derivatives/Fixed Income

Posting Date

: 06/06/2018

Location

Chicago, IL, 135 S LA SALLE ST (IL4135),

- United States

Travel

: No

Full / Part-time

: Full time

Hours Per Week

: 40

Shift

: 1st shift

Company info

Bank of America Corporation
Website : http://www.bankofamerica.com

Company Profile
Bank of America Corporation, through its subsidiaries, provides various banking and financial products and services for individual consumers, small and middle market businesses, institutional investors, corporations, and governments in the United States and internationally. The company’s Consumer & Business Banking segment offers traditional and money market savings accounts, CDs and IRAs, checking accounts, and investment accounts and products, as well as credit and debit cards; and lending related products and services, working capital management, and treasury solutions. This segment provides its products and services through operating 5,100 banking centers, 16,300 ATMs, call centers, and online and mobile banking platforms. Its Consumer Real Estate Services segment offers consumer real estate products comprising fixed and adjustable-rate first-lien mortgage loans for home purchase and refinancing needs, home equity lines of credit, and home equity loans. The company’s Global Wealth & Investment Management segment provides investment and brokerage, estate and financial planning, fiduciary portfolio management, cash and liability management, and specialty asset management services; and retirement and benefit plan, philanthropic management, and asset management services. Its Global Banking segment provides various commercial loans, leases, commitment facilities, trade finance, real estate and asset-based loans, and consumer loans; treasury management, foreign exchange, and short-term investing options; and debt and equity underwriting and distribution, and merger-related and other advisory services. The company’s Global Markets segment offers sales and trading services for securities and derivative products in primary and secondary markets; market-making, financing, securities clearing, settlement, and custody services to institutional investor clients; and risk management products. The company was founded in 1874 and is based in Charlotte, North Carolina.

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