Quantitative Finance Specialist

4 weeks ago

Beckenham, Greater London, United Kingdom Bank of America Full time
Job Title: Senior Quantitative Finance Analyst - Anti Money Laundering (AML)

Job Summary:

Enterprise Model Risk Management seeks a Senior Quantitative Finance Analyst – Anti-Money Laundering (AML) to conduct independent testing and review of complex models used to monitor and mitigate money laundering risk.

Key Responsibilities:

  • Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyses stress scenario results to better understand key drivers.
  • Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise's risk tolerance.
  • Leads and provides methodological, analytical, and technical guidance to effectively challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential risk.
  • Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.
  • Communicating and working directly with relevant modelling teams and their corresponding Front Line Units; internal audit) as well as external regulators, as needed.
  • Writing technical reports for distribution and presentation to model developers, senior management, audit, and banking regulators.
  • Acts as a senior level resource or resident expert on analytic/quantitative modelling techniques used for Anti-money laundering.

Requirements:

  • The candidate should exhibit familiarity with industry practices and have knowledge of up-to-date AML techniques.
  • The candidate should be able to provide both through leadership and proven expertise in methodology, techniques, and processes in applying statistical and machine learning methods to manage the bank's AML models and model systems.

Desired Skills and Experience:

  • PhD or Masters in a quantitative field such as Mathematics, Physics, Finance, Economics, Engineering, Computer Science, Statistics.
  • Demonstrable experience in building and understanding of Anti-Money Laundering models and systems.
  • Solid familiarity with industry practices in the field and knowledge of up-to-date Anti-Money Laundering techniques.

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.

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.

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