Data Quality Workstream Lead: Global Markets Data Management

New York, New York

Job Description:

Are you keenly aware of the importance of managing Risk in Financial Markets? Do you like to improve complex, finely-tuned processes? Would you like to join a fast-paced, dynamic, diverse global team dealing with such risks every day?

The Global Markets Data Management team is offering an exciting opportunity to be a workstream lead. In this role, you will establish, execute and continuously improve the data quality framework and control processes across the Futures Commission Merchant (FCM) Risk program.

The primary responsibility is to be the workstream lead for FCM End of Day (EOD) Risk: ensuring that high quality data is used in essential business and risk management processes is critical to our success as a firm. This involves facing off with “customers” from the Global Financing & Futures (GF&F) business line, and Technology groups, designing, testing and running controls, supported by our offshore partner team. Furthermore, control issue triaging, escalations and follow-through on resolution, and facing off with Technology vendors are also key aspects of the role. This often also leads to collaboration with other business partners including, but not limited to, Finance, Sales and Trading, Compliance, Operational Risk, and Enterprise Capital Management to ensure effective controls over data.

This position is at the nexus of the areas of responsibility of Data Management, working with the GF&F Business, Risk Managers and the Technology groups; it is therefore well-placed to define and implement effective solutions and manage remediation of data issues.

Role Description

The workstream lead will:

Work with business data users to define the use of data within risk systems and respond to the evolving needs of the business, in particular, the First Line Risk and 2nd Line Risk teams. Work closely with Cleared Derivatives Risk Technology (CDRT) to ensure the timely and accurate operation of risk models and reporting systems. Work closely with external vendor counterparts to triage, prioritize, investigate and remediate data quality issues, by means of weekly meetings. Implement effective risk controls of our data processes and systems. Define requirements for internal Technology development of controls and participate in user acceptance testing of data control processes. Collaborate with other business areas including, but not limited to, Finance, Sales and Trading, Technology, Compliance, Operational Risk, and Enterprise Capital Management to ensure effective controls over data for GM Risk Management. Proactively monitor and remediate incoming data used in risk measurement and reporting; oversee the completeness, validity, and accuracy of data on a daily basis. Ensure that the DQ framework remains adequate and captures the correct risks. Ensure it is continually enhanced (through automation, simplification, increased accuracy). Explain and justify our approach to Auditors and Regulators.

In addition to the primary role of leading the FCM Risk workstream, the role may also expand to some responsibilities in the Prime Brokerage workstreams (PB Risk and PB Margin) which are under the same management.

Responsibilities

• Identify opportunities and define solutions to improve data quality and business processes within the GMDM framework.

• Improve data quality diagnostic tools, investigate possible data errors and remediate inaccurate & missing data.

• Lead in enhancing Risk processes, ensuring adherence to regulatory policies, risk data aggregation standards, and enterprise-mandated standards.

• Work with Technology on strategic initiatives and data sourcing projects and participate in User Acceptance Testing and impact analyses.

• Analyze and confirm metrics / controls / thresholds are effective with LOB Risk Executives and sufficient for Compliance.

• Establish policies and procedures for managing data exceptions in the trade lifecycle.

• Partner with global stakeholders including the Business, Risk Managers, Operations and Technology.

• Assembling and managing ad-hoc teams to take projects related to the above activities through their complete lifecycle.

Required transferable skills/qualifications.

• Excellent communication, both written and verbal, analytical skills & attention to detail.

• Ability to work under pressure in a diverse team spread across different geographical locations in the world.

• Ability to liaise and work with all levels of the firm and people with different experiences and backgrounds.

• Broad knowledge in financial products and Risk management (VaR, Greeks, stress testing).

• Self-motivated, having a problem-solving mindset and able to drive change.

• Intermediate Excel skills and an ability to meaningfully present large sets of data.

Desirable skills / experience / qualifications

• Degree in Computer Science, Finance or a Quantitative field.

• Experience in Prime Brokerage, Collateral Operations, Risk or a control function.

• Advanced Excel/VBA skills and preferably SQL or Python skills to build and maintain tools to simplify and improve processes, and eliminate manual / repetitive tasks.

• Project management skills or experience in managing operational risks in Banking / Finance.

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

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 and affirmative action, 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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