Credit Analyst III/Hedge Funds - Global Markets Credit
New York, New York;Chicago, Illinois; Charlotte, North Carolina
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Job Description:
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.
Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
Responsible for all aspects ofthe underwriting andcredit management of Hedge Funds (HF)for the Global Markets business inclusive of trade approvals, internal credit ratings and limit management. This is a high-volume and fast-moving portfolio that utilizes a risk-based approach to drive revenue while maintaining appropriate credit risk disciplines.
Responsibilities:
Credit analysis: Participate in initial and ongoing due diligence of HFs. Perform quantitative and qualitative credit assessment, setting internal ratings and recommending credit limits
Initial margin calculation: Determine initial margin (IM) and evaluate transactional risks associated with OTC and exchange traded derivatives, securities financing and structured trades
Trade approval: Hold delegated approval authority to approve trading floor request (OTC derivatives) or to make recommendations to higher authority levels.
Relationship management: Build strong working relationship with external HF clients, internal business partners including Sales, Structuring & Trading, Risk counterparts, Legal and Audit Function
Risk monitoring: Undertake regular exposure analysis including internal stress testing and IM back testing. Monitoring of performance and AUM flow data received from HFs
Trading documentation: Liaise with Legal and client in negotiating ISDA, CSA, GMRA etc.
Portfolio reviews: Preparation of portfolio reports and reviews, including analysis of OTC and F&O exposures, any counterparties of concern and other pertinent risk issues.
Candidate will be responsible for underwriting credit lines to support hedge fund client traded products.
Required Qualifications:
2+ years of prior hedge fund (Reg Fund or Financial Institution) risk management and/or hedge fund due diligence experience.
Proficient with Microsoft Office.
General knowledge of Hedge Funds, their strategies and financial derivatives.
Candidate will have significant exposure to Global Markets personnel including Trading / Structuring / Sales, as well various support partners.
Candidate must be comfortable working on transactions in a fast-paced capital markets/trading environment.
Ability to thrive in a fast-paced environment, consistently meet deadlines, and demonstrate strong quantitative and analytical skills
Desired Qualifications:
Bachelor's Degree
Masters Degree
CFA Charter Holder
Skills:
Attention to Detail
Client Management
Decision Making
Underwriting
Credit Documentation Requirements
Critical Thinking
Portfolio Management
Problem Solving
Written Communications
Financial Analysis
Negotiation
Minimum Education Requirement: High School Diploma / GED / Secondary School or equivalent
Shift:
1st shift (United States of America)
Hours Per Week:
40
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.
This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
