EFR Liquidity Risk Sr. Specialist

Liquidity Risk Management Sr. Specialist

Operating within BAC's Risk Framework, understand and drive all components of the end-to-end Liquidity Risk management process / program for the Enterprise. As a Risk horizontal team, it is our role to ensure the Enterprise is provided and adheres to our Liquidity Risk policy and any related standards and guidance. Key components of the Liquidity Risk Management program include appropriate risk identification across the 8 lines of business and legal entities, establishment of effective stress testing processes across a range of scenarios, establishment of risk monitoring processes across the 8 lines of business and legal entities; including establishment of Board and Management Level Risk Appetite Limits for our Enterprise and material entities.

Key responsibilities include : active liquidity risk management through engagement with Corporate Treasury Liquidity Management, LOB Risk and the FLUs; identification of risks, including severity and likelihood as well as review & challenge the Line of Business; define the Liquidity Risk Limits and Early Warning Indicators (EWI); up-front engagement of Liquidity Risk & LOB team and approval via senior executives and broker-dealer Board of Directors, as appropriate. Monitor and notify or escalate limit breaches and EWIs triggered, as required; stress testing assumptions and models; coordination and independent challenge of liquidity assumptions / interpretations including internal stress assumptions, liquidity coverage ratio (LCR); overview of product and legal entity liquidity stress tests and balance sheets by currency; coordination and independent challenge, in partnership with our Recovery and Resolution Planning (RRP) colleagues, of liquidity risk assumptions and plan documentation; participation in liquidity stress modelling process including preparation of a Risk Point of View prior to approval of assumptions by the Market and Liquidity Risk Committee; ensure limits are set based on specific analysis of the risk factors or are in line with the Liquidity Stress tests; understand the results expected from limit setting and review methodology used to ensure results were as expected; design and execute analysis to develop independent view of the appropriateness of the limits; understand business drivers of limit and metric breaches and communicate effectively as part of breach notifications to drive remediation, when necessary, by the Front Line Units; lead deep dives to identify issues not captured by existing processes, and to fully understand risks and potential opportunities for enhancements; lead independent risk assessments of the liquidity risk management framework (e.g., intraday under business as usual and stress scenarios); review contingent funds transfer pricing and whether it is driving the desired control and behavior; review and contribute to policies, protocols, and procedures (active engagement as policies are updated); review new products, where liquidity risk is impacted; perform regular reviews to ensure the remaining liquidity risk processes and reporting is appropriate for the Equity and Financing businesses and any concerns are appropriately escalated to senior management. Perform independent analysis to generate an independent viewpoint and document appropriate challenge(s); support corporate-wide liquidity related initiatives and serve as a subject matter expert on Equity and Financing-related liquidity topics.

Core competencies include : communication, resilience, collaboration, interpersonal skills, and leveraging diversity.

Critical success measures include : delivering against the book of work for Enterprise Liquidity Risk Management; ensuring that we are providing appropriate monitoring and analysis that allow us to support high quality risk insights; connection to and execution of responsibilities of the independent risk function.

Key requirements include : intellectual curiosity and learning agility to accurately interpret, understand and evaluate a variety of risks across multiple risk types and interconnectivity between risk types; strong technical and analytical skills (including both analysis of financial data and written reports); talks and writes in a clear, concise, organized, and convincing manner for the intended audience; strong business-centric mindset with ability to utilize sound business judgment and tailor approach to drive optimal business outcomes.