Climate Model Validation Specialist

6 days ago

Beckenham, Greater London, United Kingdom Bank of America Full time
Job Description:

Job Title: Climate Model Validation Specialist

Corporate Title: Vice President

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.

We believe 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.

Role Description:

We are seeking a detail-oriented and analytical individual to join our team as a Climate Model Validation Specialist. In this role, you will be responsible for conducting quantitative analysis and implementing machine learning techniques, while providing critical assessments to enhance our statistical models and analytic processes. Your contributions will play a pivotal role in the review and validation of both new and existing models, ensuring conceptual soundness, robustness, and compliance with regulatory standards.

Key Responsibilities:

  • Conduct thorough reviews and critical assessments of models, focusing on conceptual soundness, assumptions, data integrity, performance, implementation, and documentation.
  • Develop and execute effective testing plans, benchmarks, and testing code to challenge models through empirical analyses and verify implementation accuracy.
  • Engage in ongoing model review activities, including independent validation, ongoing monitoring report review, and addressing action items as necessary.
  • Collaborate closely with Model Developers, Model Engineers, and Global Control Functions to prioritize and complete validation activities, ensuring alignment with organizational objectives.
  • Provide support to senior management by delivering key findings and assisting in interactions with external regulators.
  • Write technical reports for distribution and presentation to various stakeholders, including model developers, senior management, audit, and regulatory authorities.

Requirements:

  • Bachelor's/Master's/Ph.D. in Economics, Data Science, Finance, Economics, Mathematics, Statistics, Engineering, Physics, Computer Science, or a related field.
  • Demonstrable experience with a PhD or a Master's degree in either financial markets or academia (research).
  • Expertise in statistics and econometrics (time series, regression modeling, etc.)
  • Excellent coding ability in programming with Python or R.
  • Excellent communication and writing skills, with a keen attention to detail.
  • Demonstrated ability to work effectively in a team environment with a strong work ethic.

Preferred Skills:

  • Experience in developing or validating models using artificial intelligence and machine learning techniques.
  • Familiarity with climate risk scenarios, stress testing, and climate risk regulations.
  • Understanding of macroeconomics and/or financial markets.
  • Knowledge of LaTeX and Git Bitbucket.

Benefits of Working at Bank of America:

  • 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.

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