Senior Quantitative Finance Analyst

Bank of America; Paris; On-site; EUR 140,000 - 210,000; Full time

Benefits offered by this job

Health plan

Life and disability insurance

Medical plan top-up

Commuter pass reimbursement

Maternity/paternity leave

Employee assistance

Job summary

Bank of America in Paris is seeking a Senior Quantitative Finance Analyst to lead model risk oversight of valuation models and trading book models in the EU.

Based in Paris, you will collaborate with ECB/ACPR, oversee AVA methodologies and model validation, and drive improvements in valuation practices. A PhD/Master’s in a quantitative field is required, with extensive financial modelling experience.

Qualifications

• PhD or Master’s degree in Mathematics, Physics, Quantitative Finance or Engineering.
• Significant experience in model risk management, validation or quantitative modelling at a financial institution with AVA/pricing focus.
• Solid understanding of prudent valuation, valuation adjustments and fair value measurement.
• Knowledge of EU prudential regulation for trading books and market risk models.
• Excellent written and verbal communication; able to present complex topics to senior/non-technical audiences.
• Hands-on experience with valuation models, AVA methodologies, IVP/valuation control frameworks.
• Experience with ECB/SSM or national authorities, including on-site inspections or investigations.
• LaTeX and Git/Bitbucket knowledge.

Responsibilities

• Lead independent challenges on valuation models and AVA methodologies.
• Serve as senior model risk contact for ECB/ACPR and governance routines.
• Lead end-to-end testing, results consolidation and reporting of valuation models.
• Set quantitative work priorities aligned with the bank’s strategy.
• Provide methodological and analytical guidance to development/validation projects.
• Communicate submission and validation outcomes with stakeholders.

Skills

Quantitative analysis

Model risk management

Valuation models

AVA methodologies

Regulatory knowledge

Communication

Education

PhD or Master’s in a quantitative field

Tools

LaTeX

Git/Bitbucket

Job description

Job Description:

Job Title: Senior Quantitative Finance Analyst

Corporate Title: Up to 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.

Role Description:

Bank of America is hiring a Director (Director – EU Model Risk Management, Valuation and Trading Book Models Paris) in Paris to lead model risk oversight of valuation models and of models used to meet EU trading book requirements at BofASE, its EU broker-dealer.

Responsibilities:

• You will report to the EU Model Risk Officer and provide independent challenges on valuation models and prudent valuation (AVA) methodologies.
• You will also be a senior model risk contact for the ECB and ACPR and participate in Model Risk Management governance routines in BofASE.
• Leads end-to-end testing of valuation models, from scenario design and implementation through results consolidation and reporting, and assesses model performance and adequacy in capturing material risk factors and meeting EU trading book regulatory requirements.
• Leads the planning related to setting quantitative work priorities in line with the bank’s overall strategy and prioritization.
• Identifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation.
• Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite.
• Leads and provide methodological, analytical, and technical guidance to effectively challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential risk.
• Works closely with model stakeholders and senior management regarding communication of submission and validation outcomes
• Performs statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches.

Required Skills:

• PhD or Master's degree in a quantitative field such as Mathematics, Physics, Quantitative Finance or Engineering.
• Significant experience in model risk management, model validation or quantitative modelling at a financial institution, with a focus on pricing models and AVA calculation methodologies.
• Solid understanding of prudent valuation, valuation adjustments and fair value measurement.
• Good working knowledge of EU prudential regulation that applies to trading books and market risk models.
• Excellent written and verbal communication. Able to present complex topics clearly to senior and non-technical audiences.
• Hands-on experience with valuation models, AVA methodologies, Independent Price Verification or valuation control frameworks.
• Experience dealing with the ECB/SSM or national competent authorities, including on-site inspections or internal model investigations.
• Knowledge of LaTeX and Git/Bitbucket.

Preferred Skills:

• Global Risk Management experience

• Critical thinking and effective challenge
• Risk-based prioritisation and judgement
• Stakeholder management
• Regulatory and governance acumen
• Quantitative analysis and risk modelling

Benefits of working at Bank of America (France):

• At Bank of America, we strive to prioritise employees’ health and wellbeing – it’s what makes us a Great Place to Work.
• Competitive retirement plan in addition to State plans, life and disability assurance.
• 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.
• 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.
• We offer paid maternity leave, and paternity leave of up to 26 weeks (16 paid weeks and 10 unpaid), and inclusive family leave arrangements.
• Nursery scheme for children under age 3.
• Works council (‘CSE’) 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, religious or similar philosophical belief, political opinion, 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.