Job Description: Corporate Title: Up to Vice President Location: London Line of Business Global Risk Analytics (GRA)
Here in our London office we are looking for a Quantitative Finance Analyst to join our Model Performance team.
GRA Global Markets (GRA-GM) sits within BofA Risk Control and is an enterprise wide function responsible for the development and monitoring of all global markets analytics used across Risk and Capital.
Within GRA-GM, the Model Performance team is responsible for ongoing monitoring and analysis processes to assess model usage, model accuracy and the overall performance of the exposure platform. Our remit covers VaR, Counterparty Credit Risk (CCR) and UMR-Initial Margin model performance. Within CCR we are additionally responsible for explaining CCR exposure movement, quantifying issues impacting these exposures and working with the Credit Risk and Wholesale Credit Risk Officers to agree an action plan where this exposure change has breached risk appetite limits.
As a Quantitative Finance Analyst your main responsibilities will involve:
Member of the VaR backtesting team based in London
Supporting the daily process around backtesting setup and maintenance, execution and exception analysis liaising with Middle Office, Finance, Enterprise Capital Management and Market Risk Management
Working with the VaR model development team to understand our VaR model implementation and assess the impact of model limitations on our backtesting results
Supporting process improvement and automation initiatives
Assisting in the production and presentation of reporting packages and analysis for senior management, governing committees and regulatory bodies
As a Quantitative Finance Analyst your skills and qualifications will ideally include:
Master's degree in quantitative fields such as mathematics, statistics, physics or equivalent
Solid experience in Market Risk or Market Risk Analytics
Excellent knowledge of VaR modelling techniques
Experience in investigation of back-testing exceptions and data analysis
Good knowledge of traded products
Excellent written and verbal communication skills
Ability to multitask with strong time management skills
High attention to detail
Experienced in Front Office trade support.
Good programming skills (Python, SQL, Tableau)
About Bank of America Merrill Lynch
Bank of America is one of the world's leading financial institutions, serving individual consumers, small- and middle-market businesses, large corporations and governments with a full range of financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the global banking and markets businesses.
The company has had a presence in EMEA since 1922. With offices in 23 countries on three continents, it offers an integrated and comprehensive set of products and services across Global Corporate and Investment Banking, Global Markets and Consumer Card, serving the needs of individual, corporate, institutional and government clients, combining the best of local knowledge and global expertise. Developing solutions for social and environmental challenges is at the core of Bank of America Merrill Lynch's responsibility platform. In more than 90 countries around the world, we partner with employees, clients and stakeholders to help make financial lives better.
If you're interested in this opportunity please send your details to us by applying online.
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 mindset 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 gender, gender identity, marital status, race, colour, nationality, ethnic or national origins, age, sexual orientation, socio-economic background, responsibilities for dependants, physical or mental disability. The Bank selects candidates for interview based on their skills, qualifications and experience.
As part of our standard hiring process to manage risk, please note background screening checks will be conducted on all hires before commencing employment.