Quantitative Finance Analyst

7 days ago

Bromley, United Kingdom Bank of America Full time
Job Description:

Job Title: Quantitative Finance Analyst

Corporate Title: Up to VP

Location: Bromley

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:

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:

The AMGQS Climate Team is responsible for developing new models across Climate Physical Risk for the Enterprise. The team is further responsible for ongoing maintenance and upgrades to these models, as well as execution of the models in production and ongoing monitoring. This is a varied and high profile role.

Role Description:

The team has a requirement for a highly motivated Quantitative Finance Analyst to support the growing needs of the team across the Physical Climate Risk portfolio. The right candidate will be required to support the development of existing and new models, and work on ongoing performance monitoring, and will include working with Model Risk Management, Technology partners and business end-users. Opportunity also exists to provide innovative solutions to modelling and operational challenges across the growing number of regulatory use-cases in the teams' portfolio including ICAAP, CCAR and Climate.

Responsibilities:
  • Required to pro-actively seek out effective statistical estimation techniques required to model Physical Climate Risk
  • Pro-actively work with stakeholders across Physical Climate Risk to collect requirements and then develop and build modelling solutions to meet them
  • Implement models 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
  • Critical to the role is to be able to think outside the box of current industry standards to develop innovative approaches to modelling problems

What we are looking for:
  • Highly numerical degree (Masters required; PhD level desirable) in Statistics, Financial Mathematics, Applied Mathematics, Economics, Physics or Engineering
  • Demonstrable work 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

Skills that will help:
  • Experiences in the areas of Climate Risk, Climate Risk modellnig, credit 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

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.

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