Job Description:
Job Title: Senior Quantitative Finance Analyst
Corporate Title: Director
Location: Bromley
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:
Join our bustling Bromley office, situated in one of London’s greenest boroughs. Here you’ll find plentiful and easy commuting routes, with central London just 15 minutes away by train.
The Team:
Global Markets Risk Analytics (GMRA) team is responsible for developing, maintaining, and monitoring Counterparty Credit Risk (CCR), the Internal Model Method (IMM), Central Clearing Counterparties (CCP), and Value at Risk (VaR) models. GMRA develops tools to support regulatory, audit, and internal risk management needs for Global Markets. The GMRA team has a rich pool of diverse talent with quantitative and qualitative skillsets. The team Partners with Front Office, Risk Management, Finance and Technology.
Role Description:
In-depth analysis and development of the bank’s IRC, CRM, and IDR models, using quantitative tools to understand model behavior, and identifying, supervising and executing improvements to the model framework.
Engaging closely with all model stakeholders including risk management, model development, model risk, senior management, and our regulators to understand their expectations and plan delivery of improvements that meet their requirements.
Supporting bank-wide initiatives that impacting these models – e.g., migration to Fundamental Review of Trading Book (FRTB), annual Comprehensive Capital Analysis & Review (CCAR) assessments
Responsibilities:
Responsible for independently conducting quantitative analytics and complex modelling projects.
Leads efforts in development of new models, analytic processes, or system approaches.
Creates documentation for all activities and may work with technology staff in design of any system to run models developed.
Incumbents possess excellent quantitative/analytic skills and can influence strategic direction, as well as develop tactical plans.
What we are looking for:
Master's degree or PhD required (preferably in Mathematics, Statistics, Physics, or related field) and several years’ experience working in quantitative modelling on behalf of a global financial institution.
Experience with mathematically sophisticated financial modelling.
Ability to express technical concepts clearly in written and spoken English.
Programming skills: key languages are C++ and Python; a solid understanding of sound software development qualities.
Up-to-date knowledge of industry trends and developments, a commercial instinct, and an understanding of sound risk management qualities.
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.
Skills that will help:
In-depth analysis and development of the bank’s IRC, CRM, and IDR models, using quantitative tools to understand model behaviour, and identifying, supervising and executing improvements to the model framework
Engaging closely with all model stakeholders including risk management, model development, model risk, senior management, and our regulators to understand their expectations and plan delivery of improvements that meet their requirements
Supporting bank-wide initiatives that impacting these models – e.g., migration to Fundamental Review of Trading Book (FRTB), annual Comprehensive Capital Analysis & Review (CCAR) assessments
Benefits of working at Bank of America (UK):
Private healthcare for you and your family plus an annual health screen to help you manage your physical wellness with the option to purchase a screen for your partner
Competitive pension plan, life assurance and group income protection cover if you become unable to work as a result of a disability or health reasons
20 days of back-up childcare including access to school holiday clubs and 20 days of back-up adult care per annum
The ability to change your core benefits as well as the option of selecting a variety of flexible benefits to suit your personal circumstances including access to a wellbeing account, travel insurance, critical illness etc.
Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
Access to an Employee Assistance Program for confidential support and help for everyday matters
Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK’s most iconic cultural institutions and exhibitions.
Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.
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.