Senior Quantitative Finance Analyst, AML Model Risk Validation

Bank of America; City Of London; On-site; GBP 80,000 - 100,000; Full time

Job summary

A multinational financial services company is hiring a Senior Quantitative Financial Analyst for its Bromley office. This role focuses on quantitative modeling projects and risk validation, requiring an advanced degree and strong analytical skills. Ideal candidates will have proficiency in Python, SAS, and SQL, along with experience in model development. The position offers competitive benefits, including private healthcare and a pension plan. Join a diverse and inclusive team committed to personal growth and impactful work.

Benefits

Private healthcare for you and your family

Competitive pension plan

20 days of back-up childcare

Flexible benefits to suit personal circumstances

Access to mental health helplines

Employee Assistance Program

Charity donation matching

Discounted cultural membership programs

Volunteer opportunities

Qualifications

• Strong quantitative and analytical skills are essential.
• Experience in model development or validation is preferred.
• Must be familiar with the regulatory landscape.

Responsibilities

• Lead the development of new models for business units.
• Conduct end-to-end market risk stress testing.
• Analyze stress scenario results to identify key drivers.

Skills

Proven and diversified quantitative skills

Familiarity with Anti-Money Laundering techniques

Domain knowledge in model risk management

Proficiency in statistical methods

Proficient in Python

Proficient in SAS

Proficient in SQL

Excellent communication skills

Critical thinking skills

CAMS certification

Education

Advanced degree (PhD or Masters) in a quantitative field

Job description

Job Description

Job Title: Senior Quantitative Financial Analyst - AML Model Risk Validation

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.

Role Description

This job is responsible for conducting quantitative analytics and complex modeling projects for specific business units or risk types. Key responsibilities include leading the development of new models, analytic processes, or system approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.

Responsibilities

• Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyzes stress scenario results to better understand key drivers
• 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 provides 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 with regard to communication of submission and validation outcomes
• Performs statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches

Required Skills

• Proven and diversified quantitative skills
• Familiarity and up-to-date knowledge with industry practices in the field Anti-Money Laundering techniques and typologies.
• Domain knowledge and familiarity with regulatory landscape including but not limited to model risk management, Anti-money laundering.
• Proficiency with Above-the Line and Below- the-Line (ATL/BTL) techniques, Sampling methods, AML Coverage Assessments is a plus.
• Prior experience in model development and/or model validation is a plus.
• Advanced knowledge and working experience in statistical methods, techniques, and financial data.
• Proficient in Python, SAS and SQL.
• Excellent written and verbal communication skills and collaboration skills (this role involves communicating with various groups within the firm).
• Critical thinking and ability to work independently and proactively identify, debate, elevate, suggest, and resolve issues.
• CAMS certification (preferred)

Minimum Education Requirements

• Advanced degree (PhD or Masters) in a quantitative field such as Mathematics, Physics, Finance, Economics, Engineering, Computer Science, Statistics, or related fields.

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.