Job Description:
Job Title: Senior Quantitative Financial Analyst (Liquidity Risk Validator)
Corporate Title: Vice President/Director
Location: Paris
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.
The Team:
The Enterprise Model Risk Management (MRM) organization is responsible for providing oversight of model risk across Bank of America. MRM independently validates and challenges newly-developed and existing models; is responsible for model risk assessments, limits and monitoring; communicates issues identified through validations to relevant businesses and governance and control functions; escalates model use breaches and remediation plans to relevant governance committees; maintains a comprehensive inventory of models across all businesses and governance and control functions; and manages an attestation process to ensure compliance with the Enterprise Model Risk Policy.
Role Description:
Enterprise Model Risk Management seeks a Senior Quantitative Financial Analyst to manage the model risk of liquidity risk models. The candidate will perform independent review and testing of the models and ensure their compliance with Internal Liquidity Adequacy Assessment Process (ILAAP) and other regulatory guidelines. These models support liquidity risk management of both banking and trading business of the Bank of America. The candidate will provide both thought leadership and hands-on expertise on methodology, and processes in applying mathematical approaches to manage the bank’s liquidity risk models.
Responsibilities:
Acts as a senior level resource or resident expert on analytical/ modelling techniques used for liquidity risk management.
Performing various model risk related activities like model identification, risk tiering, model validation and ongoing monitoring.
Writing technical reports for distribution and presentation to model developers, senior management, audit, and banking regulators.
Communicating and working directly with relevant model development teams and their corresponding Front Line Units; communicating and interacting with the third line of defence (e.g., internal audit) as well as external regulators, as needed.
Providing hands-on leadership for projects pertaining to liquidity risk modelling approaches to effectively challenge and influence the strategic direction and tactical approaches of these projects.
What we are looking for:
Master’s degree in finance or economics with demonstrated quantitative skills
FRM or CFA certifications preferred
Several years of experience in liquidity risk management or liquidity risk models in a large Bank
Experience in working with European Central Bank and other European regulators
Strong familiarity with the industry practices and knowledge of up-to-date liquidity risk management.
Demonstratable written and oral communication skills and experience in interacting with different stakeholders.
Experience on building liquidity risk models is preferred.
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.