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Stress Testing Manager

Bank of America

Bank of America

Charlotte, NC, USA · United States · Remote
Posted on Wednesday, July 3, 2024

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. 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!

Job Description:
Manages process and resources responsible for building, consolidating and reporting stress testing results to executive management. Challenges

assumptions and results and is comfortable communicating and influencing business partners based on these results. Can quickly build credibility with

partners. Performs complex analysis related to earnings, balance sheet, capital and liquidity as well as associated risk exposures. Provides analytical support for explaining business/forecast strategies in the context of baseline and stress forecasts Reviews and analyzes trends in stress results to best understand

earnings, capital, and liquidity implications both internally and externally. Understands complex interactions between economic and operational factors and their resulting impact to product, business line and financial results &

position of the company and can effectively communicate these interactions and implications to senior leaders. Highly effective at developing, motivating and managing employees & organizations. Requires strong analytical, project

management, influencing, communication and people management skills. Comfortable leading a dynamic, fluid work environment with tight deadlines. Experience in one or more of the Bank's businesses, Finance, or Risk is preferred.

Skills:

  • Controls Management

  • Internal Audit Review

  • Issue Management

  • Monitoring, Surveillance, and Testing

  • Regulatory Relations

  • Benchmarking

  • Interpret Relevant Laws, Rules, and Regulations

  • Policies, Procedures, and Guidelines

  • Regulatory Compliance

  • Risk Management

  • Data Governance

  • Data Modeling

  • Data and Trend Analysis

  • Financial Analysis

  • Financial Forecasting and Modeling

As part of the Enterprise Scenario Planning and Execution (ESPE) Scenario Generation team, the candidate will support the macroeconomic scenario design and development process for the quarterly enterprise-wide stress testing cycles.

Team Responsibilities:
• Effectively designing and communicating enterprise-wide scenario details to executive management, board committees, and forecasting business partners
• Partnering with economists and model owners during the development of macroeconomic variable projections and scenario narratives
• Coordination with the Company’s risk identification processes and various lines of business to assess the enterprise’s material risks for inclusion into the customization of stress scenarios
• Integrating requirements for capital adequacy planning as defined across key international legal entities
• Evaluating the inventory of stress methodologies employed and monitoring the stress testing usage of the suite of macroeconomic variable projections, facilitating sensitivity analysis and understanding of their downstream impacts to the balance sheet and income statement
• Identification of areas of improvement in the scenario design process and implementation of solutions

Position Description:
The candidate will support the design processes of the Scenario Generation team which includes, but is not limited to, customizing each of the internally designed scenarios as part of the enterprise process (including regulatory submission scenarios and management requested scenarios), assessing the Risk Inventory of the Company and how the risks may manifest in a specific

scenario, communicating scenario requirements to downstream users, reviewing and challenging each scenario’s macroeconomic variable projections, and creating presentation materials for various committees. The candidate will be a key liaison with risk partners and forecasting teams across the company. The candidate also participates in a deeper analysis of select risks and partners with Line of Business SMEs to conduct detailed analysis for senior management.

A key requirement of the role will be to develop executive-level presentations, execute on ad-hoc priorities, and coordinate initiatives across ESPE. The position requires continuous interaction within the Lines of Business, Risk Management, and Finance to address inquiries related to methodology and risk coverage, scenario design, and stress variable projections. The candidate will also support the execution of on-going scenario generation and scenario customization enhancement initiatives to further build-out related functions within Bank of America’s Comprehensive Capital Analysis and Review (CCAR) processes and capital adequacy assessment processes for international entities.

Required Skills:
• Bachelor’s degree
• 7+ years of work experience in banking, finance or economic research
• Strong organization and planning ability with meticulous attention to detail
• Independent thinker who is proactive and takes initiative to overcome obstacles
• Strong executive presence and ability to work with senior leaders in a matrixed environment
• Ability to synthesize complex data from multiple sources into effective executive-level presentations
• Excellent interpersonal and written communication skills
• Collaborative, team player with the ability to connect across groups
• Ability to effectively work under pressure and successfully manage multiple projects in a fast-paced environment
• Strong PowerPoint skills

Desired Skills:
• Prior corporate finance, stress testing or economic forecasting/research experience
• MBA/CFA a plus

Shift:

1st shift (United States of America)

Hours Per Week:

40