Vice President, Product Control, Uncleared Margin Regulation

  • Competitive
  • Hong Kong
  • Permanent, Full time
  • Bank Of America / Merrill Lynch
  • 17 Aug 17

Vice President, Product Control, Uncleared Margin Regulation

Job Description:
About Bank of America Merrill Lynch:

Our purpose as a firm is to make financial lives better, through the power of every connection. Across the world, we partner with leading corporate and institutional investors through our offices in more than 40 countries. In the U.S alone, we serve almost all Fortune 500 companies and approximately 59 million consumers and small-business customers. We provide a full suite of financial products and services, from banking and investments to asset and risk management. We cover a broad range of asset classes, making us a global leader in corporate and investment banking, sales and trading.

Connecting Asia Pacific to the World
Our Asia Pacific team is spread across 23 offices in 12 markets. We are focused on connecting Asia to the world and the world to Asia, using our global expertise to ensure success is shared between us, our clients and our communities. Our regional footprint covers 12 currencies, more than a dozen languages and five time zones, placing us firmly among the region's leading financial services companies.
Bank of America Merrill Lynch is committed to attracting, recruiting and retaining top diverse talent from across the globe. Our diversity and inclusion mission is to actively promote an inclusive work environment where all employees have the opportunity to achieve personal success and contribute to the growth of our business. Each of our global Employee Networks bring together employees, create dialogue and awareness in support of our Diversity and Inclusion.

Position Description
This role will be a member of the team performing Uncleared Margin Requirements (UMR) Pre-Calculation (Pre-Calc) and Initial Margin (IM) dispute resolution analysis

Key Responsibilities

  • Review the risk sensitivities data in Zinc and monitoring the Zinc control reports. Ensure risk inputs into IM model are correct each day.
  • Where errors are identified, overrides and adjustments will be made as deemed appropriate by the team to ensure correct initial margin numbers are used in the daily margin calls.
  • The team will also be responsible for investigating an initial margin disputes for the matched trade population and investigate the key drivers behind the IM dispute.
  • Communicate any internal issues to the Tech team and work with them to resolve these issues.
  • Communicate any external issues to the counterparty.
  • Work with technology teams to guide Initial Margin reporting and control requirements
    Key Requirements
  • At least 6 years of relevant experience within risk operations or directly servicing UMR
  • Advanced quantitative/problem solving skills
  • Advanced knowledge of financial control operations management
  • In depth product experience and knowledge of financial instruments accounting and transaction lifecycle is critical
  • Some project management experience is a plus
Bank of America Merrill Lynch is an equal opportunities employer

Posting Date: 03/03/2017
Location: HK--Hong Kong

Full / Part-time: Full time
Hours Per Week: 40