girl looking into her desktop
Back to search results

Quantitative Finance Analyst – Model Performance, AVP / VP (Bromley)

Bromley, , United Kingdom

Job Description:

Job Title: Quantitative Finance Analyst – Model Performance

Line of Business: Global Risk / Global Market Analytics

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) and 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.

Business Unit Overview:

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.

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.

Role Overview:

This role sits within Model Performance team (MP), which is responsible for monitoring and assessing the performance of all risk models used across Global Markets – supporting risk management in understanding the drivers behind material risk metric movement, the impact of model limitations, and working with the model development team to enhance model accuracy and the overall performance of the analytics platform.

Your primary focus will be on Market Risk VaR models, but you will have the opportunity to gain experience across all areas covered including Counterparty Credit Risk, 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:

  • Performing in-depth analysis on the bank’s risk model results using various quantitative tools such as backtesting, benchmarking, sensitivity analysis.

  • Quantifying the impact of model limitations both in terms of firm level capital and name level exposure.

  • From this analysis, pulling together the overall holistic picture of model performance along with clear conclusions on overall accuracy and remediation areas as required.

  • Identifying common themes across global markets along with improvement initiatives.

  • Communicating the results of this analysis to all model stakeholders including risk management, model development, model risk, senior management and our regulators.

  • Supporting model development in confirming remediation of model issues prior to their being taken live.

  • Driving incremental improvement to our model performance assessment toolset across all business areas.

Experience / Competencies:

  • Working experience in a related field (Market Risk, Middle Office, Counterparty Credit Risk).

  • Experience in data analysis, with excellent research and analytical skills.

  • Strong Python experience.

  • Background in the software development lifecycle (SDLC) and be pro-active in problem solving

  • 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.

  • Sense of focus and rigor in the completion of deliverables.

  • Pro-active behaviour with capacity to seize initiative.

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.

Job Band:

H5

Shift: 

Hours Per Week:

35

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Job Title: Quantitative Finance Analyst – Model Performance

Line of Business: Global Risk / Global Market Analytics

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) and 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.

Business Unit Overview:

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.

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.

Role Overview:

This role sits within Model Performance team (MP), which is responsible for monitoring and assessing the performance of all risk models used across Global Markets – supporting risk management in understanding the drivers behind material risk metric movement, the impact of model limitations, and working with the model development team to enhance model accuracy and the overall performance of the analytics platform.

Your primary focus will be on Market Risk VaR models, but you will have the opportunity to gain experience across all areas covered including Counterparty Credit Risk, 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:

  • Performing in-depth analysis on the bank’s risk model results using various quantitative tools such as backtesting, benchmarking, sensitivity analysis.

  • Quantifying the impact of model limitations both in terms of firm level capital and name level exposure.

  • From this analysis, pulling together the overall holistic picture of model performance along with clear conclusions on overall accuracy and remediation areas as required.

  • Identifying common themes across global markets along with improvement initiatives.

  • Communicating the results of this analysis to all model stakeholders including risk management, model development, model risk, senior management and our regulators.

  • Supporting model development in confirming remediation of model issues prior to their being taken live.

  • Driving incremental improvement to our model performance assessment toolset across all business areas.

Experience / Competencies:

  • Working experience in a related field (Market Risk, Middle Office, Counterparty Credit Risk).

  • Experience in data analysis, with excellent research and analytical skills.

  • Strong Python experience.

  • Background in the software development lifecycle (SDLC) and be pro-active in problem solving

  • 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.

  • Sense of focus and rigor in the completion of deliverables.

  • Pro-active behaviour with capacity to seize initiative.

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.

Learn more about this role

Full time

JR-21025703

Band: H5

Manages People:

Manager:

Talent Acquisition Contact:

Gail Danvers

Referral Bonus:

0

Street Address

Primary Location:
26 ELMFIELD RD, Bromley, BR1 1LR