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.
Responsibilities
•Pro-actively seek out effective statistical estimation techniques required to model risk across the businesses supported
•Pro-actively work with stakeholders across the business(es) to collect requirements and then develop and build modelling solutions to meet them
•Implement the model using well written and well governed python code
•Produce clear and coherent technical documentation for internal and regulatory purposes
•Promote the adoption of, and personally meet, GRA best practices for model development, implementation and monitoring
•Think outside the box of current industry standards to develop innovative approaches to modelling problems
Requirements
•Highly numerical degree (Masters required; PhD level desirable) in Statistics, Financial Mathematics, Applied Mathematics, Economics, Physics or Engineering
•Some experience in developing, documenting & maintaining risk and/or capital models and handling large datasets
•Technical skills: Statistics, Probability Theory, Econometrics, Financial Mathematics
•Strong programming skills; SQL, Python, VBA, Latex
•Strong technical writing and clear verbal communication skills
•Experience of, and ability to work under pressure and deliver to tight deadlines
•Ability to work independently, multitask and properly prioritize work
•Curiosity and willingness to develop and work on new ways of modelling
•Experience in the areas of financial risk modelling, loss forecasting etc. preferred
•Knowledge of regulatory guidelines including CCAR, DFAST, CECL, ICAAP
•Strong stakeholder engagement skills with an ability to work with colleagues in other functions (business, risk and model validation)
•Organized, practical and execution focused with some project management experience
•Self-motivated and intellectually curious about both the role, supporting technologies and the wider bank
•Experience with LaTeX
About the Team and Role
Join the bustling Bromley office, situated in one of London's greenest boroughs, with plentiful and easy commuting routes, central London just 15 minutes away by train.
Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM). GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective Risk and Capital measurement, management and reporting across Bank of America. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. The team drives innovation, process improvement and automation across all of these activities.
The AMG Team is responsible for developing and managing models across multiple domains, including Wholesale, Consumer and Global Financial Crimes. The team has a requirement for a highly-motivated Quantitative Finance Analyst to join to support enhancements to existing Wholesale and Consumer loss forecasting models as well as developing new models. There is always the potential for further growth supporting one of the numerous other areas supported (Global Financial Crimes, Finance, Markets, Capital, Physical Climate Risk). The right candidate will be required to contribute across the full spectrum of model development lifecycle tasks and will be important to the successful delivery of models in this space. In addition, the right candidate will be needed to contribute more broadly to the regulatory driven suite of alternative and champion models developed by the team.
Benefits
•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
•26-weeks paid maternity leave, 16-weeks paid paternity leave and inclusive family leave arrangements for working parents and carers, including 20 days of back-up childcare (including access to school holiday clubs) and 20 days of back-up adult care per annum
•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, cycle to work etc.
•Use of a flex fund to use towards benefits
•Access to an emotional wellbeing helpline, and virtual GP services
•Access to the Peppy App, providing 1:1 support, consultations and resources relating to men's health, women's health, fertility, menopause and pregnancy & parenthood
•Access to a range of gyms, exercise classes and wellbeing Apps through Wellhub, including Headspace and Calm
•Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local area
