XVA Trader

Job Description:

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!

Location Overview:

Based in the 8th arrondissement and within the Parisian Golden Triangle, our beautiful Art-Deco era office benefits from luxury modern workspaces, an abundance of natural light and is easily accessible by public transport.

Role Description:

The XVA trading desk is part of the Counterparty Portfolio Management (CPM) line of business focused on managing counterparty credit risk (CVA) and funding risk (FVA). XVA traders are engaged in a broad range of functions including pricing, hedging, risk analysis, and optimization across various derivative products including rates, FX, commodities, credit, and equities. The XVA desk plays a pivotal role in the daily market making process for OTC derivatives, including working with FICC sales to win new business for the franchise, and monetizing the various macro risks in the bank’s derivatives portfolio by developing unique cross-asset trading strategies and efficient credit portfolio management of the global XVA book.

Responsibilities:

The candidate must be able to thrive in a fast-paced and intense environment, working alongside experienced members of the XVA desk on a wide range of responsibilities, including but not limited to:

• Price XVAs on new transactions for end-user clients across FICC business. Execute day-one hedges on large/complex transactions.
• Focus on the repack/SPIRE business and structured mindset.
• Daily review of risk and P&L drivers.
• Be at the forefront of macro and micro economic developments to aid in trading, hedging and managing risks across the global XVA book.
• Perform detailed reviews of counterparty portfolios, including analyzing trade structures and documentation.
• Collaborate with Global Loan Portfolio Management Team (GLPM) on fundamental credit analysis of counterparties.
• Regular preparation of P&L performance and presentation to the global team.
• Engage in ad-hoc projects on a regular basis to improve XVA systems and processes.
• Interact with other lines of business within Global Markets and support areas (including Finance, Middle Office, Risk, Technology, Quants, Legal, etc.)
• Demonstrate exceptional work ethics and business judgment.

Qualifications:

• Knowledge of derivatives, options, and fixed income markets desired.
• Strong quantitative and analytical skills with an interest in solving complex problems.
• Ability to defend prices and positioning against challenge.
• Knowledge of statistical techniques, with knowledge of machine learning a plus.
• Some knowledge of programming/scripting, experience in Python, R, and VBA desired.
• Experience working with large data sets and spreadsheets.
• Must be a self-starter who is resourceful.
• Must have excellent communication skills, written and verbal skills.
• Must have strong attention to detail.
• Must work well in a collaborative team environment.
• Strategic and creative thinking.
• Ability to learn quickly and take on new responsibilities.
• Must be able to multitask and work well under pressure/deadlines.

Desired Qualifications:

• Bachelor's degree in business, finance, economics or a related field

Benefits of working at Bank of America (France):

• Competitive retirement plan in addition to State plans

• Mandatory Medical Plan provided by the bank as a top-up to Social Security health benefits for you and your family.

• Employees and family members can receive free health advice 24/7 through a range of English and French speaking medical providers

• Life and disability insurance

• Time Savings Account (‘CET’) to save some of your leave days, cash them out or use them later

• Reimbursement of 50% of your commuter pass

• Nursery scheme for children under age 3

• Works council benefits

• Access to an Employee Assistance Programme for confidential support and help for everyday matters

• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering with local charities

• Opportunity to receive free entry to arts exhibitions sponsored by Bank of America in Paris

Bank of America:

Good conduct and sound judgment is crucial to our long-term success. It’s important that all employees in the organisation understand the expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mind-set are the cornerstones of our Code of Conduct and are at the heart of managing risk well.

We are an equal opportunities employer and ensure that no applicant is subject to less favourable treatment on the grounds of sex, gender identity or gender reassignment, marital or civil partner status, race, religion or belief, colour, nationality, ethnic or national origins, age, sexual orientation, pregnancy or maternity, socio-economic background, responsibility for dependants or physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.