Rates Valuation Specialist

Bank of America; London; On-site; GBP 70,000 - 120,000; Full time

Job summary

A leading company in financial services is seeking a Rates Valuation Specialist to enhance their Valuation Control Methodology and tools for complex derivatives. The role requires a strong quantitative background and proficiency in Python, focusing on valuation support and analytics to drive operational excellence. Benefits include private healthcare, a competitive pension plan, and opportunities for community engagement and development.

Benefits

Private healthcare for you and your family

Competitive pension plan

20 days of backup childcare

Customization of core benefits

Access to mental health support

Opportunities for volunteering

Qualifications

• Understanding of structured interest rate derivatives products.
• Experience in valuation control in complex financial services.
• Strong communication skills to convey complex issues simply.

Responsibilities

• Develop and enhance Valuation Control Methodology for Derivatives.
• Create tools for Valuation Control activities.
• Drive Operational Excellence by automating workflows.

Skills

Analytical Skills

Problem-Solving

Python

Education

Master’s or PhD in Quantitative Finance, Financial Engineering, Physics, or Mathematics

Job description

Job Description:

Job Title: Rates Valuation Specialist

Corporate Title: Director

Location: London

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:

Our London office is based just a stone’s throw from the magnificent St. Paul’s Cathedral on bustling King Edward Street. Here you’ll find modern workspaces and a state-of-the-art auditorium space. In addition, we’re proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.

The Team:

Global Valuation Group (GVG) is part of the Global Banking and Markets CFO group, providing valuation and independent price verification (IPV) guidance/support to Business Finance & Control teams. Valuation Specialists possess broad knowledge of financial markets and products with quantitative background and proficiency in programming. Focus of the role leans towards a quant who can leverage technology to create tools to support Valuation Control activities including IPV, Valuation Adjustments, Valuation Uncertainty, and Fair Value Hierarchy.

Responsibilities:

1. Develop and enhance Valuation Control Methodology for Derivatives, including IPV, Valuation Adjustment, Valuation Uncertainty, and Fair Value Hierarchy
2. Create tools to support Valuation Control activities including support and enhancement of market data calibration infrastructure
3. Leverage expert knowledge of financial markets, products, and consensus data to understand valuation trending, liquidity, and uncertainty
4. Collaborate with Quant team and Model Risk Management to develop and upgrade valuation control framework as a result of ongoing pricing model consolidation
5. Lead strategic projects supporting valuation analytics and architecture
6. Coordinate across regions to drive global consistency in Valuation Control execution
7. Drive Operational Excellence by automating workflows with an End-to-End solution

What we are looking for:

1. Knowledge of structured interest rate derivatives products for trading, pricing, and risk management, and broad understanding of cross-asset class products
2. Previous experience in large, complex financial services organizations performing valuation control / FO tech / model development in complex interest rate derivatives
3. Excellent analytical and problem-solving abilities with proficiency in Python
4. System design and development experience, working in cross-functional teams
5. Excellent written and communication skills with the ability to communicate complex issues simply
6. Flexibility to adapt to changing priorities while meeting long-term objectives
7. Excellent academic credentials, with a Master’s or PhD in a quantitative field such as Quantitative Finance, Financial Engineering, Physics, or Mathematics

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 due to disability or health reasons
• 20 days of backup childcare including access to school holiday clubs and 20 days of backup adult care per annum
• The ability to customize your core benefits and select from flexible options including 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 everyday matters
• Option to donate to charities via payroll, with the bank matching contributions
• Opportunity to access Arts & Culture corporate memberships and discounted entry to iconic UK cultural institutions
• Volunteer opportunities in your local community to develop skills and give back

Bank of America:

Good conduct and sound judgment are crucial to our long-term success. All employees are expected to understand our standards of conduct and how we manage conduct risk. Accountability and ownership are core to our Code of Conduct and risk management.

We are an equal opportunities employer and ensure no discrimination based on sex, gender identity, marital status, race, religion, age, sexual orientation, pregnancy, socio-economic background, or disability. We encourage candidates to inform us of any adjustment requirements to facilitate the recruitment process.