Bank of America
Quantitative Finance Analyst
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Job Description
Job Title: Quantitative Finance Analyst
Corp Title: Up to 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. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career, and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive, and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership, and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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
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 us 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 we support (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.
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Responsibilities
- Required to 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
- Critical to the role is to be able to think outside the box of current industry standards to develop innovative approaches to modelling problems
Required Skills
- 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
Desired Skills
- Global Risk Management experience
- Experiences 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
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Benefits of working at Bank of America (UK)
At Bank of America, we strive to prioritize employees’ health and wellbeing – it’s what makes us a Great Place to Work.
- 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
- We offer 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
- 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, 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 which provides 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
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 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 sex, gender identity or gender reassignment, marital or civil partner status, race, religious or similar philosophical belief, political opinion, 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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