Job Title: Quantitative Finance Analyst – Market Risk Analytics, AVP / VP
LOB: Global Risk / Global Markets & Financial Risk
Corporate Title: AVP or VP
Location: Bromley, UK
Here in our Bromley office we are looking to recruit for a Quantitative Finance Analyst within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM).
Business Unit Overview:
GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard.
GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities.
Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.
This role sits within Market Risk Analytics Quant group (MRQ), which covers analytics and tools for all general market and specific risk models and methodologies subject to trading and banking books capital rules across Market Risk. Additionally, you will have the opportunity to gain experience across all areas covered including Prime Brokerage, UMR-SIMM and IRC/CRM. This is an excellent opportunity to work in a fast growing, international team.
Responsibilities will include but not limited to:
Develop quantitative risk models, analytics and applications in support of market risk assessment and regulatory capital calculation.
Partner with internal groups including Capital, Risk, Technology, Model Risk Management and Market Risk Management on model enhancement, performance testing and documentation to remediate internal and external requirements.
Conduct analysis and verification on market data, risk metrics and P&L time series.
Prepare developmental evidence and document to support internal and external exams.
Perform analysis for VaR/RNiV model development, documentations/submissions and aid in addressing required action items raised by model risk management, issues from regulators, audit and model performance tests.
Perform statistical analysis on market historical data and model parameters.
Develop and support benchmarking and backtesting. Identify, analyze and explain any overages.
Identify common themes across global markets along with improvement initiatives.
Communicate the results of this analysis to all model stakeholders including risk management, model development, model risk, senior management and our regulators.
Support model development in confirming remediation of model issues prior to their being taken live.
Experience / Competencies:
Master's degree or PhD required (preferably in Mathematics, Statistics, Physics or related field).
Working knowledge of risk or pricing models for fixed income or commodity products.
Understanding of regulatory capital and risk management framework and stress testing requirement.
Solid working experience in a related field (Market Risk, Middle Office).
Broad financial product knowledge.
Proven programming skills (Python, C++, SQL, or equivalent object-oriented programming) to write reusable and testable code to develop tools and improve process efficiency for reporting and calculation automation.
Experience in data analysis, with excellent research and analytical skills.
Pro-active behaviour with capacity to seize initiative.
Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions.
Ability to multitask with excellent time management skills.
Past experience in IBOR transition / FRTB is a plus.
Bank of America
Every day, across the globe, our employees bring a commitment to our purpose and to driving responsible growth by living our values: deliver together, act responsibly, realize the power of our people and trust the team. A key aspect of driving responsible growth is doing so in a sustainable manner, a critical pillar of which is being a great place to work for our teammates.
In line with these values, in EMEA we have 9 Employee Networks, a wide range of Sports & Social clubs, and other development and networking opportunities so that you can enjoy a range of experiences and connect with colleagues across the bank. We also offer exclusive discounts to some of the most iconic cultural experiences for you to enjoy in your spare time outside of work. Learn more about our benefits here.
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 gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, 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. As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.
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