Model Risk & Model Analytics Professional

Bank of America; Bromley; On-site; GBP 60,000 - 90,000; Full time

Job summary

A leading financial institution is seeking a Model Risk & Model Analytics Professional in Bromley. This crucial role involves developing quantitative models and frameworks to manage model risk and support compliance in a dynamic environment. The ideal candidate will demonstrate expertise in quantitative financial analysis and risk management while collaborating across stakeholders to enhance operational guidelines.

Benefits

Private healthcare for you and your family

Competitive pension plan

20 days of backup childcare

Access to various flexible benefits

Emotional wellbeing helpline

Volunteer opportunities in local areas

Qualifications

• Proven track record in technical operations and quantitative risk management.
• Experience in developing model risk frameworks and governance.
• Strong communication and project management skills.

Responsibilities

• Manage all model-related activities and coordination with stakeholders.
• Focus on developing strategies for various financial products.
• Represent SSCoE in governance forums and regulatory discussions.

Skills

Quantitative financial modelling

Data analytics

Technical skills

Communication skills

Project management

Education

Advanced degree in physics, applied mathematics, statistics/probability

Tools

SQL

Python

R

SAS

Microsoft Excel

MS Access

Job description

Job Description:

Job Title: Model Risk & Model Analytics Professional

Corporate Title: Up to Vice President

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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.

Role Description:

The Center of Excellence for economic sanctions monitoring is part of Global Payment Operations (GPO). GPO is the central hub for Bank of America in playing a monumental and mission critical role in establishing, servicing, supporting and monitoring two of the most widely used electronic payment processing vehicles – Wire and ACH – in the financial services arena worldwide. GPO is also accountable for the SSCoE (Sanctions Screening Center of Excellence) that reviews all of Bank of America’s customers and transactions to ensure compliance with Bank of America’s Economic Sanctions Program. SSCoE serves BAML’s eight lines of business, delivering global, regional and local capabilities through secure, fast and reliable technology, and people with the knowledge and experience to deliver timely and accurate review of all sanctions alerts across all products of Bank of America. Team also has the responsibility to provide support to client facing teams and clients where needed to educate on compliance program, drive better quality of data defining the customer and their day-to-day banking transactions.

There are two Models used for Sanctions Screening purposes using two different vendor products (Fircosoft & Netreveal) and all rules and detections related to creation and suppression of alerts is handled by SSCoE Filter Support team.

You will be responsible for developing quantitative/analytic models and applications in support of the firm's risk management effort. This role focuses on the development of operations/data management policies, strategies and operational guidelines for the organization's various financial products as they relate to the analysis, tracking, and reporting of various risk metrics. This role often possesses an advanced degree in physic, applied mathematics, statistics/probability or another heavy quantitative discipline. Quantitative analytic staff is focused on and responsible for the development of the theory and mathematics behind various models. May report to either Quant Operations Exec or Quantitative Operations Manager.

Responsibilities:

• Primary responsibility of this role is to take over the handling of all Model related activities and coordination with different stakeholders like Model Risk Management, Global Financial Crimes etc. You will be required to understand the model lifecycle, with demonstrable experience around model development/validation as well as model governance and frameworks.
• Understand the functionalities, limitations, and complexities of the two models and be able to represent SSCoE in all Internal governance forums / Audit meetings and Regulatory exams.
• Work with a range of senior stakeholders across various functions including the Model Development, Model Validation, Model Risk Management, Global Financial Crimes (GFC), GFC-Tech, amongst others.
• Focus on the development of strategies and operational guidelines for the organization's various financial products as they relate to the analysis, tracking, and reporting of various risk metrics.

What we are looking for:

• You will have a proven track record in Technical, Operations, quantitative financial modelling, or data analytics experience.
• You will have Model Risk Management experience developing model risk frameworks, governance and policies, evidenced by demonstrable improvements.
• You will have Experience in Model risk appetite and Model risk measurement and management.
• You will have the ability to identify Technological implications and solutions that can affect the Model.
• You will have proficiency in quantitative financial modelling and data analytics.
• You will have worked in a team environment and experience managing/developing junior colleagues
• You will have excellent communication skills (oral and written), planning, project management, networking and influencing skills.

Skills that will help (optional):

• Advanced degree in physics, applied mathematics, statistics / probability, or another heavy quantitative discipline.
• Experience in Financial Crimes related to Sanctions or AML Compliance.
• Proficiency in SQL, Python, R and/or SAS.
• Broad experience in Data Analytics and interpretation of large volumes of Data.
• Logical thinking capabilities with a technical mind-set
• Advanced knowledge in using Microsoft Excel and MS Access
• Project management skills
• Experience in AI Model Governance

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 virtual tutoring 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
• Use of a flex fund to use towards benefits
• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services
• 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 programme and receive discounted entry to some of the UK and Ireland’s most iconic cultural institutions
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area

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.