Job Description:
Job Title: Quantitative Finance Analyst
Location: London
Corporate Title: Assistant Vice President
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.
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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.
Responsibilities:
- Working closely with the Market Risk Methodology, Line of Business Risk Managers, and Technology teams, the candidate will work to enhance our overall risk management capabilities and provide support for the implementation, testing, and rollout of VaR/S-VaR market risk models
- Play a significant role in the business design and risk system requirements, ensuring the completeness and accuracy of all market risk models
- Liaise with Line of Business Risk Managers to provide market risk oversight, quantitative risk implications of regulatory changes, new product development etc. and enhance market risk models to reflect changes in the business environment.
- The role requires a flexible approach that can deal with problems that require pragmatic solutions and innovative thinking
- Proactively monitor and remediate any market data issues that is used in production risk measurement and reporting. Ensure the completeness, validity, and accuracy of market data on a daily basis
- Work with business data users to define the use of data within various risk systems.
- Work closely with technology to ensure the timely and accurate data processing on weekly schedule
- Implement effective market data controls of our data processes and systems. Participate in user acceptance testing of data control processes
- Work with other groups as needed, including Reporting, Back Testing, Enterprise Stress Testing and various Technology groups to ensure effective controls over market data for GBAM
What we are looking for:
- A good understanding of the key risk drivers at product, business, and firm-wide levels is required.
- Proven track record in the operational aspects of Market Risk, including design, testing and monitoring of Market Risk processes. The ability to contact and communicate portfolio impact analysis on process changes and updates to Line of Business Risk Managers potential risks is required
- Bachelor's degree with emphasis in finance, economics, accounting, computer science, or quantitative disciplines with minimum 5 years work experience in the position offered or related. MBA/MS preferred.
- Progress toward CFA or FRM professional designation is strongly desired but will consider proven relevant experience
- A broad knowledge across financial products, market structure, asset classes, and risk with an understanding of Value at Risk (VaR) and its use in the market risk management area.
- Proven quantitative/analytical skills with understanding of capital regulations and how these apply to Market Risk is highly desirable.
- A solid background in the operation aspects of the market risk management area with emphasis on operational controls, testing and reporting
- Advanced desktop technology skills such as Excel and PowerPoint is a must (Bloomberg and Access skills are a plus but not required)
- Excellent verbal and written communication skills, including well-developed presentation skills.
- Some experience in computer programming, VBA, SQL, Python
- Candidates must be high energy, be motivated to take initiative and ownership of projects, and multi task in a fast paced environment, while paying attention to detail
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.