Senior Quantitative Financial Analyst

Bank of America; London; On-site; GBP 75,000 - 100,000; Full time

Job summary

A leading global financial institution is looking for a Senior Quantitative Financial Analyst in London. The candidate will conduct quantitative analytics, collaborate with model developers, and validate financial models. An advanced degree and extensive experience in a similar role are required. This role offers a chance to work in a diverse and inclusive environment with strong benefits, including private healthcare and competitive pension plans.

Benefits

Private healthcare

Competitive pension plan

Backup childcare services

Access to wellbeing account

Emotional wellbeing helpline

Employee Assistance Program

Volunteer opportunities

Qualifications

• Advanced degree in a technical field such as mathematics, physics, or quantitative finance.
• Extensive experience in a similar role is required.
• Proven knowledge of market risk models and regulations.

Responsibilities

• Collaborate with model developers to perform validations.
• Review ongoing monitoring reports and action items.
• Participate in EMEA regulatory projects.

Skills

Quantitative analysis

Programming in Python

Mathematical theories

Financial analysis

Statistical methods

Communication skills

Education

Advanced degree in Mathematics

Degree in Financial Mathematics

Job description

Job Description:

Job Title: Senior Quantitative Financial Analyst

Location: London

Corporate title: Director

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:

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:

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.

The MRM Market Risk team validates risk models for the Global Markets business, which includes models for FRTB, VaR, RNiV, IRC/CRM and stress testing.

Role Overview:

This role is responsible for conducting quantitative analytics and complex modelling 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:

• Work in a team and collaborate with model developers and other validators to perform full scope and limited change validations.
• Review the developer's ongoing monitoring reports and their submissions to required action items.
• Perform annual model reviews.
• Participate a in EMEA regulatory projects like ICAAP and coordinate/drive activities on behalf of MRM
• Act as the regional MRO delegate in MLI

What we are looking for:

• Advanced degree in a technical field such as mathematics, physics, statistics, financial mathematics, quantitative finance, computer science or engineering
• Extensive experience in a similar role
• Proven knowledge of financial, mathematical and statistical theories and practices
• Confident programming skills, e.g., in Python
• Excellent written and oral communication
• Experience with market risk models such as VaR, IRC/CRM or FRTB; knowledge of market risk regulations
• Attention to detail, willingness to learn, strong work ethic, team player

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.