Senior Bank Funding Trader
- Permanent, Full time
- Bank Of America / Merrill Lynch
- 26 Apr 17
Senior Bank Funding Trader
Global Funding (GF) is one of the key areas within Corporate Treasury. Global Funding employees interact daily with internal and external constituents including lines of business, other Treasury functions such as Balance Sheet Management (BSM), Corporate Treasury Finance, Capital and Liquidity Management (ECLM), internal control partners, regulators, market participants and investors. The mission of Global Funding is to ensure Bank of America Corporation and all its subsidiaries are sufficiently funded at all times. The team strives to utilize its global presence to provide efficient funding strategies across the enterprise in the most cost effective manner, while managing the risks associated with those strategies.
The Global Funding team manages enterprise liquidity and ensures that funding is maintained at levels sufficient to operate in normal and stressed scenarios. Global Funding is tasked with forecasting the sources and uses of funds across a variety of entities and currencies, taking into account business input and projected market conditions in order to effectively manage the Corporation's key cash and liquidity positions. Implementation of funding and hedging strategies necessitates flawlessly executing transactions with internal and external counterparties in accordance with liquidity constraints, internal guidelines, legal limitations and regulatory directives.
A successful career in Corporate Treasury requires one to think critically about the many challenges facing the company and industry with an emphasis on attention to detail, teamwork and strong communication skills. The Treasury group provides an opportunity to gain broad knowledge about the company and its many businesses as well as the global markets in which the company transacts. Day to day experience in Global Funding will be varied and challenging, and will allow extension of one's skills within various disciplines, such as market analysis, short term money market execution & real time liquidity risk management.
Key job responsibilities:
- Funding execution
- Manage daily rate setting and funding trade execution /coordinate with global partners
- Balance various factors when sourcing funding including stability, price and accessibility in changing conditions
- Manage foreign exchange and derivative trade execution
- Oversee daily cash and collateral positions and communicate with global partners
- Provide pricing consultation to business (LOBs)
- Advise desk head, regional treasury and control personnel of position adjustments and /or discrepancies
- Funding forecasting
- Analyze forward balance sheet to provide insight on appropriate funding plan
- Work with business partners to develop an understanding of future business flows
- Work closely with international peers to coordinate flows and promote efficiency
- Investigate forecast misses in order to minimize future variance
- Relentlessly pursue answers to enable explanation of differences between actual and forecast money flows. Use explanations to design processes which enhance forecasting accuracy and minimize variances
- Liquidity risk management
- Monitor daily liquidity risk metrics and escalate key risks
- Lead production and enhancement of periodic liquidity risk reporting
- Be a subject matter expert and consult with LOB's on liquidity risk drivers and constraints
- Manage excess liquidity to meet statutory requirements and achieve maximum efficiency
- Solid understanding of local regulatory requirements/regime
- Balance sheet governance
- Monitor changes in assets and liabilities and understand reasons for change
- Provides input to Funds Transfer Pricing to ensure that FTP drives behavior consistent with corporate goals
- Ensure that a robust control environment is maintained through compliance with all policies, procedures and directives.
- Participate in technology enhancement projects
- Perform extensive ad-hoc financial analysis related to funding risks and opportunities
- Respond to spontaneous information/reporting requests both internally and from regulators
- Treasury back-up at LMT/CLT and Corporate Treasury regional management meetings
- Where required, manage interaction with customers
- Compliance with relevant local and applicable international regulations including Dodd Frank / Volcker rule
- Minimum 8 -10 years of relevant execution experience in Treasury, Finance or Trading
- Undergraduate degree with quantitative focus / prefer finance, accounting or engineering major
- Ability to supervise others in achieving funding objectives
- Strong Excel skills are a must
- Word and PowerPoint proficiency
- Strong ability to communicate effectively across a broad range of constituents including seasoned teammates, upper management and disparate business partners.
- Skilled at building and maintaining strong relationships across the enterprise. Ability to deliver a difficult message while maintaining close working relationships.
- Advanced understanding of markets, financial statements, liquidity and risk
- Demonstrated ability to communicate at a management level in English
- Creative problem solving skills and orientation
- A genuine interest in financial markets / a drive to "win"
- Effective communication skills
- Experience with dealing with regulators
- Previous Supervisory experience/oversight of a small team of traders
Posting Date: 07/03/2017
Full / Part-time: Full time
Hours Per Week: 40