Job Description
Job Title: Quantitative Finance Analyst
Corp Title: Assistant Vice President
Location: Bromley
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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths – whether shaped by military service, community college education or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impacting the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
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.
The Team
Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM). It is responsible for developing a consistent and coherent set of models, analytical tools and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions and emerging risks.
Global Markets Risk Analytics (GMRA) is part of GRA. It is responsible for developing, maintaining and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit and internal risk management needs for Global Markets.
This role sits within the Default Risk modelling team supporting the models used wherever we have IMA approval to quantify and capitalize the additional risks of default, rating migration and base-corrolation movements on the portfolio.
Responsibilities
- Development, testing, documentation and maintenance of Default risk models, including risk factor simulation models, pricing models, aggregation models and back-testing methodology.
- Support of the Default Risk platform, including investigation and resolution of model-related system issues and quantitative support to model users.
- Improvements to model development infrastructure such as test harnesses, support utilities and visualization tools.
- Partner with internal groups including Capital, Risk, Technology, Model Risk Management and Market Risk Management on model enhancement, performance testing and documentation to remediate internal and external requirements.
- Prepare evidence and documentation to support internal and external exams.
- Identify common themes across global markets and improvement initiatives.
- Communicate the results of this analysis to all model stakeholders including risk management, model development, model risk, senior management and regulators.
- Support model development by confirming remediation of model issues before they are taken live.
- Drive incremental improvement to the model performance assessment tool set across all business areas.
Required Qualifications
- Master’s degree or PhD required, preferably in Mathematics, Statistics, Physics or a related field.
- Experience working in quantitative modelling on behalf of a global financial institution.
- Experience with mathematically sophisticated financial modelling.
- Programming skills: key languages are C++ and Python, and a solid understanding of sound software development principles.
- Up-to-date knowledge of industry trends and developments, commercial instinct and an understanding of sound risk management principles.
- Good written and oral communication, interpersonal and organisational skills, and ability to build and maintain relationships across areas and regions.
- Ability to multitask with excellent time management skills.
- Sense of focus and rigor in the completion of deliverables.
- Pro-active behaviour with capacity to seize initiative.
- In-depth analysis and development of the bank’s IRC, CRM and IDR models, using quantitative tools to understand model behaviour, identify and execute improvements to the model framework.
- Engage closely with all model stakeholders – risk management, model development, model risk, senior management and regulators – to understand expectations and plan delivery of improvements that meet their requirements.
- Support bank-wide initiatives impacting these models – e.g., migration to Fundamental Review of Trading Book (FRTB) and annual Comprehensive Capital Analysis & Review (CCAR) assessments.
Benefits of Working at Bank of America
- We prioritise employees’ health and wellbeing – it’s what makes us a Great Place to Work.
- Private healthcare for you and your family plus an annual health screen to help manage physical wellness, with an 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.
- 26 weeks’ paid maternity leave, 16 weeks’ paid paternity leave and inclusive family leave arrangements for working parents and carers, including 20 days of backup childcare and 20 days of backup adult care per annum.
- Option to change core benefits and select flexible benefits to suit circumstances, including a wellbeing account, travel insurance, critical illness coverage, cycle-to-work and more.
- Access to free counselling through the Employee Assistance Programme and virtual GP services through private health care.
- Employee Assistance Programme for confidential support for everyday matters and the opportunity to donate to charities through payroll, with matching contributions.
- Access to the Arts & Culture corporate membership programme and discounted entry to cultural institutions and exhibitions.
- Opportunity to give back to community, develop new skills and work with diverse groups of people by volunteering locally.
Bank of America
Good conduct and sound judgement are crucial to our long-term success. It’s important that all employees understand expected standards of conduct and how we manage conduct risk. Individual accountability and an ownership mindset are the cornerstones of our Code of Conduct and are at the heart of managing risk well.
We are an equal-opportunity 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 our recruitment processes are accessible for all candidates and encourage any candidates to inform us about any adjustment requirements.
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