Trading Assistant - London, United Kingdom - Bank of America

Bank of America

Verified Company

London, United Kingdom

3 weeks ago

Posted by:

Tom O´Connor

beBee Recruiter

Description

LOB:
Global Markets

Corporate Title:
Assistant Vice President

Location:
London

Company Overview

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

Our Trading Assistant teams supports our sales and/or trading desks across all asset classes. They are notably responsible for trade capture and resolving trade discrepancies. The team also liaises with traders, trade controls, sales, counterparties, counterparty credit, operations, finance and compliance.

This function is also involved in the introduction and User Acceptance Testing (UAT) of new initiatives, systems, and process improvements to increase efficiency and enhance controls.

This role requires product knowledge of financial instruments relevant to the area supported and across related asset classes.

Responsibilities

Trade capture, trade P&L and risk summarization, and trade discrepancy resolution
Collaborating with TA team members and other stakeholders including traders, trade control, counterparties, operations, finance, and compliance
Trade monitoring and preparation of various reports for traders
Responding to ad hoc requests and investigations
Participating in growth initiative and operational efficiency projects

The team

The Trading Assistant will cover both the XVA and Risk Optimization Group (ROG) desks which are part of the Counterparty Portfolio Management (CPM) line of business.

The XVA trading desk focuses on managing counterparty credit risk (CVA) and funding risk (FVA), hedging those risks with a variety of cross-asset derivative instruments including rates, FX, commodities, credit, and equities.

The ROG trading desk has two main functions - risk optimization, which includes initial margin, GSIB, and regulatory capital optimization and collateral trading optimization.

What we are looking for

Prior trading floor or middle office operations experience with crossasset derivative products
Familiarity with trade capture, client onboarding, and credit risk systems
Excellent communications skills and confidence interacting with senior and junior stakeholders
Familiarity with documentation and other requirements (regulatory, credit, AML, static data needs) for trading FICC products
Strong sense of urgency with ability to multitask and engage business partners for efficient resolution
Ability to think critically or inquire further about the job functions being performed, understand the implications of these actions, identify, and escalate issues, and propose solutions
Strong operational processing and risk control skills including the ability to build wellcontrolled spreadsheets and source appropriate and meaningful data
Take personal responsibility for delivering high quality work and have a track record of outperformance and delivery
Be able to design and produce insightful regular reports and drive continuous improvement in these reports
Ability to thrive in a dynamic, teamoriented environment both work closely with senior members of the team and work independently

Benefits of working at Bank of America

Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
20 days of backup childcare including virtual tutoring and 20 days of backup adult care per annum
The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc
Use of a flex fund to use towards benefits
Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services
Ability to donate to charities of your choice directly through payroll and the bank will match your contribution