Trader - Global Funding

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
This role is responsible for the implementation of funding and hedging strategies in partnership with Lines of Business stakeholders. Key responsibilities include pricing, executing and recording trades, funding transactions across international entities, ensuring operational cohesiveness and performing investor and dealer analysis. Job expectations include evaluating funding opportunities with partners across the client companies, providing analytics and recommendations to leaders.

This role is on the Global Funding team within Treasury. The role has responsibility for collaborating with the Senior Traders to execute Bank Funding strategies in the wholesale money markets. Responsible for evaluating funding opportunities with business partners, building and preparing analytics, reporting on portfolio activities, and providing recommendations to traders and management. Role requires ability to assess markets effectively and to analyze and communicate potential risks and opportunities. The associate will execute funding transactions, understand relevant operational processes, and report on the impact to the company’s funding and risk profile.

LOB specific Job Description:

Global Funding employees interact daily with internal and external constituents.  These include business lines, other Treasury functions such as Balance Sheet Management (BSM), Enterprise Capital Management (ECM) and Global Liquidity Management (GLM), internal control partners, regulators, central banks, investors, and other market participants. Global Funding 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.  Global Funding is responsible for all aspects of managing its funding programs to support Enterprise liquidity management objectives. The group actively monitors market conditions, investor sentiment, market liquidity, interest rates and Federal Reserve policy actions to support risk management decisions. The funding products executed span wholesale CDs, commercial paper, FHLB advances, repurchase agreements (repos), and bank notes. Implementation of Treasury funding strategies necessitates flawlessly executing transactions with internal and external counterparties in accordance with liquidity constraints, capital constraints, internal risk metrics, legal limitations and regulatory directives.

This role requires critical thinking about the many challenges facing our company and industry with an emphasis on attention to detail, teamwork and strong communication skills. The broader Treasury organization provides an opportunity to gain broad knowledge about the Company and its many businesses as well as the global markets in which we transact. Your day-to-day experience will be varied and challenging, and will allow you to extend your skills within various disciplines, such as market analysis, funding portfolio management (diversification, tenors, investors, etc.), trade execution, managing risk, collateral management, and knowledge of broader money markets. 

Responsibilities:

• Participates in Line of Business cash and liquidity forecasting routines to identify risks and ensure compliance within relevant liquidity risk limits and guidelines
• Monitors market conditions, providing reporting and analytics of rate markets and applicable portfolio and risk management strategies
• Contribute to the development of wholesale funding strategies that cost effectively meet liquidity needs within defined Enterprise limits and guidelines.
• Transact and execute issuance of bank funding products, such as negotiable CDs, commercial paper, short-term notes, FHLB advances, and repurchase agreements to meet Global Funding’s goals.
• Perform financial analysis and manage daily reporting related to funding and collateral portfolios.
• Develop thorough understanding of Federal Reserve monetary policy. Analyze impacts to funding markets and bank liquidity from external events.
• Identify and support collateral execution strategies that deliver value to Enterprise through risk reduction or economic efficiencies.
• Engage with business partners across Enterprise to assess financial resource objectives and develop funding plans that optimally meet Enterprise targets.
• Ensure that a robust control environment is supported through compliance with all policies, procedures and directives, and that risk limits and metrics are adhered to.
• Identifying and implementing ongoing process improvements to drive process efficiency and ensure activities are accurate and well controlled.

Required Qualifications:

• Undergraduate degree with quantitative focus; finance, accounting, mathematics, computer science, econometrics
• Minimum 3 years treasury, finance, risk, or market facing role (bond math, analytics, balance sheet, cash flows)
• Strong analytical, investigative problem-solving, and decision-making skills   
• Advanced Excel skills, Word and PowerPoint proficiency, coding experience (e.g. SQL, Python)
• General understanding of markets, liquidity, capital, or market risk constructs
• Ability to thrive in a fast-paced, demanding environment, adapt to changing priorities and demonstrate initiative
• Inquisitive, willing to challenge the status quo and strive to improve processes
• Attention to detail, ability to navigate large data sources and determine most accurate and efficient problem-solves
• Ability to work as part of a team and independently, with minimal supervision and efficiently prioritize tasks and seek appropriate guidance
• Effective communication across a broad range of constituents in verbal, written and presentation formats
• Ability to build and maintain strong relationships across the Enterprise
• Comfortable leading an initiative as well as playing a support role on a broader team

Desired Qualifications:

• Familiarity with financial regulatory environment (Capital, Liquidity, IRR)
• Proficiency with SQL or Python coding
• Funding planning and market execution experience
• Liquidity or Balance Sheet management experience
• Bloomberg and other market trading and research platforms
• CFA
• AI prompting

Skills:

• Price Verification and Valuation
• Trading
• Trading and Investment Analysis
• Investment Management
• Problem Solving
• Trade Monitoring
• Trading Strategy
• Business Analytics
• Causation Analysis
• Data and Trend Analysis

Shift:

Hours Per Week: