Market Risk / FRTB IMA Engineer

BIP US; New York (NY); Hybrid; USD 140,000 - 185,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

Discretionary bonus

PTO 20 days

Remote/hybrid work environment support

Job summary

BIP US is seeking a hands‑on Market Risk / FRTB IMA Engineer to support a major internal models program for a leading global financial institution.

The role sits between Quant Strats and Software Engineering, requiring a technically strong engineer who blends production software development with market risk analytics and FRTB IMA requirements.

Qualifications

• 6+ years of professional software engineering, quantitative development, risk technology, or closely related experience within a complex enterprise environment.
• Strong hands-on development expertise in either Python or Java; candidates are not required to have deep expertise in both languages.
• Experience building, enhancing, and supporting production-grade enterprise applications, analytics platforms, or risk systems.
• Strong understanding of market risk concepts and experience working with market risk, capital markets, risk technology, or quantitative analytics.
• Working knowledge of the FRTB Internal Models Approach (IMA) framework and the technology and analytics required to support regulatory implementation.
• Understanding of risk factor eligibility testing, risk model validation concepts, time-series analytics, and market risk data.
• Strong analytical skills with the ability to independently analyze datasets, validate calculations and outputs, and troubleshoot complex issues.
• Experience designing and executing robust testing and validation methodologies for analytical or financial systems.
• Ability to translate loosely defined business, regulatory, and quantitative requirements into working technical solutions and production code.
• Experience operating within large‑scale enterprise platforms and navigating complex or legacy technology environments.
• Ability to collaborate effectively with Front Office, Market Risk, Quantitative, and Engineering stakeholders.
• Strong communication and problem‑solving skills with the ability to participate meaningfully in both technical and analytical discussions.

Responsibilities

• Design, develop, test, and deliver production‑quality solutions supporting FRTB IMA regulatory and market risk requirements.
• Partner with Quant Strats, Market Risk, Front Office, and Engineering teams to translate analytical and regulatory requirements into scalable technical solutions.
• Enhance existing Market Risk Suite (MRS) capabilities supporting Rates and Credit, including market data enrichment, risk calculations, and eligibility testing.
• Build new analytics and risk‑processing capabilities on strategic infrastructure, with Equity population and implementation efforts as a major focus.
• Implement and support FRTB IMA risk factor eligibility testing, time‑series analytics, and related risk model validation processes.
• Analyze market risk and risk factor datasets, validate outputs, investigate discrepancies, and support quantitative testing and reconciliation.
• Participate in solution design, analytics reviews, testing strategy, and problem‑solving sessions with technical and quantitative stakeholders.
• Reverse engineer and enhance complex enterprise and legacy systems where formal documentation or requirements may be limited.
• Develop integration components connecting legacy and strategic platforms, including data flows, workflow orchestration, and risk‑process connectivity.
• Apply strong software engineering practices including automated testing, code reviews, documentation, version control, production validation, and support.
• Work effectively in a fast‑paced environment with evolving requirements and take ownership from initial analysis through production delivery.

Skills

Python

Java

Analytical thinking

Problem solving

Production software

Tools

Bloomberg data

Job description

Business Integration Partners (BIP) is Europe’s fastest growing digital consulting company and are on track to reach the Top 20 by 2030, with an expanding global footprint in the US (New York, Charlotte, Chicago, and Houston). Operating at the intersection of business and technology, we design, develop, and deliver sustainable solutions at pace and scale, creating greater value for our customers, employees, shareholders, and society.

BIP specializes in high-impact consulting services across multiple industries with 6,000 employees worldwide. Our Financial Services business serves Capital Markets, Insurance and Payments verticals, supplemented with Data & AI, Cybersecurity, Risk & Compliance, Change Management and Digital Transformation practices. We integrate deep industry expertise with business, technology, and quantitative disciplines to deliver high-impact results for our clients.

BIP is currently expanding its footprint in the United States, focusing on growing its Capital Markets and Financial Services lines. Our teams operate at the intersection of business strategy, technology, and data to help our clients drive smarter decisions, reduce risks, and stay ahead in a fast-evolving market environment.

About the Role:

We are seeking a hands‑on Market Risk / FRTB IMA Engineer to support a major Fundamental Review of the Trading Book (FRTB) Internal Models Approach (IMA) program for a leading global financial institution.

This role sits between Quantitative Strats and Software Engineering and requires a technically strong engineer who can combine production software development with an understanding of market risk analytics, FRTB IMA requirements, testing methodologies, and market risk data.

The work spans enhancements to an existing enterprise Market Risk platform supporting Rates and Credit, as well as development on newer strategic infrastructure with a significant focus on Equity‑related implementation. Candidates may specialize in Python or Java; strong expertise in one of these stacks is sufficient.

The successful candidate will work closely with Front Office, Market Risk, Quant, and Engineering teams, participate actively in solution design and analytical discussions, and translate loosely defined requirements into robust, production‑quality code.

Key Responsibilities:

• Design, develop, test, and deliver production‑quality solutions supporting FRTB IMA regulatory and market risk requirements.
• Partner with Quant Strats, Market Risk, Front Office, and Engineering teams to translate analytical and regulatory requirements into scalable technical solutions.
• Enhance existing Market Risk Suite (MRS) capabilities supporting Rates and Credit, including market data enrichment, risk calculations, and eligibility testing.
• Build new analytics and risk‑processing capabilities on strategic infrastructure, with Equity population and implementation efforts as a major focus.
• Implement and support FRTB IMA risk factor eligibility testing, time‑series analytics, and related risk model validation processes.
• Analyze market risk and risk factor datasets, validate outputs, investigate discrepancies, and support quantitative testing and reconciliation.
• Participate in solution design, analytics reviews, testing strategy, and problem‑solving sessions with technical and quantitative stakeholders.
• Reverse engineer and enhance complex enterprise and legacy systems where formal documentation or requirements may be limited.
• Develop integration components connecting legacy and strategic platforms, including data flows, workflow orchestration, and risk‑process connectivity.
• Apply strong software engineering practices including automated testing, code reviews, documentation, version control, production validation, and support.
• Work effectively in a fast‑paced environment with evolving requirements and take ownership from initial analysis through production delivery.

Required Skills and Experience:

• 6+ years of professional software engineering, quantitative development, risk technology, or closely related experience within a complex enterprise environment.
• Strong hands‑on development expertise in either Python or Java; candidates are not required to have deep expertise in both languages.
• Experience building, enhancing, and supporting production‑grade enterprise applications, analytics platforms, or risk systems.
• Strong understanding of market risk concepts and experience working with market risk, capital markets, risk technology, or quantitative analytics.
• Working knowledge of the FRTB Internal Models Approach (IMA) framework and the technology and analytics required to support regulatory implementation.
• Understanding of risk factor eligibility testing, risk model validation concepts, time‑series analytics, and market risk data.
• Strong analytical skills with the ability to independently analyze datasets, validate calculations and outputs, and troubleshoot complex issues.
• Experience designing and executing robust testing and validation methodologies for analytical or financial systems.
• Ability to translate loosely defined business, regulatory, and quantitative requirements into working technical solutions and production code.
• Experience operating within large‑scale enterprise platforms and navigating complex or legacy technology environments.
• Ability to collaborate effectively with Front Office, Market Risk, Quantitative, and Engineering stakeholders.
• Strong communication and problem‑solving skills with the ability to participate meaningfully in both technical and analytical discussions.

Preferred Qualifications:

• Direct hands‑on experience delivering FRTB IMA technology or analytics solutions.
• Experience implementing or supporting Risk Factor Eligibility Testing (RFET).
• Experience with enterprise Market Risk platforms, internal risk engines, or regulatory capital technology.
• Knowledge of regulatory capital calculations, risk factor modelling, and model validation processes.
• Experience processing and analyzing large‑scale time‑series or financial market datasets.
• Experience with market data sourcing, enrichment, risk factor data management, or Bloomberg data integration.
• Knowledge of Rates, Credit, and/or Equity products and associated market risk analytics.
• Experience integrating modern strategic platforms with complex legacy risk infrastructure.
• Exposure to both Python and Java environments is beneficial, although deep expertise in one primary stack is sufficient.

Compensation:

**The base salary range for this role is $140,000 - $185,000.**

• Choice of medical, dental, vision insurance.
• Voluntary benefits.
• Short- and long-term disability.
• HSA and FSAs.
• Matching 401k.
• Discretionary performance bonus.
• Employee referral bonus.
• Employee assistance program.
• 11 public holidays.
• 20 days PTO.
• 7 Sick Days.
• PTO buy and sell program.
• Paid parental leave.
• Remote/hybrid work environment support.

For more information about BIP US, visit https://www.bip-group.com/en-us/.

It is BIP US Consulting policy to provide equal employment opportunities to all individuals based on job‑related qualifications and ability to perform a job, without regard to age, gender, gender identity, sexual orientation, race, color, religion, creed, national origin, disability, genetic information, veteran status, citizenship, or marital status, and to maintain a non‑discriminatory environment free from intimidation, harassment or bias based upon these grounds.

BIP US provides a reasonable range of compensation for our roles. Actual compensation is influenced by a wide array of factors including but not limited to skill set, education, level of experience, and knowledge.