Senior Quantitative Financial Analyst

Job Description:

Job Title: Senior Quantitative Financial Analyst

Location: Paris

Corporate Title: Director

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!

The Team:

The Enterprise Model Risk Management (MRM) organization is responsible for providing oversight of model risk across Bank of America. MRM independently validates and challenges newly-developed and existing models; is responsible for model risk assessments, limits and monitoring; communicates issues identified through validations to relevant businesses and governance and control functions; escalates model use breaches and remediation plans to relevant governance committees; maintains a comprehensive inventory of models across all businesses and governance and control functions; and manages an attestation process to ensure compliance with the Enterprise Model Risk Policy. The MRM Market Risk team validates risk models for the Global Markets business, which includes models for FRTB, VaR, RNiV, IRC/CRM and stress testing.

• Support the EMEA MRO in regulatory projects like ICAAP and other EMEA related MRM regulatory projects
• Support the Regional MRSC forum
• Work in a team and collaborate with model developers and other validators to perform full scope and limited change validations.
• Review the developer's ongoing monitoring reports and their submissions to required action items.
• Perform annual model reviews.
• Participate a in EMEA regulatory projects like ICAAP and coordinate/drive activities on behalf of MRM
• Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyzes stress scenario results to better understand key drivers
• Leads the planning related to setting quantitative work priorities in line with the bank's overall strategy and prioritization
• Identifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation
• Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
• 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
• Works closely with model stakeholders and senior management with regard to communication of submission and validation outcomes
• Performs statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches

• Advanced degree in a technical field such as mathematics, physics, statistics, financial mathematics, quantitative finance, computer science or engineering
• Proven knowledge of financial, mathematical and statistical theories and practices
• Confident programming skills, e.g., in Python
• Excellent written and oral communication
• Experience with market risk models such as VaR, IRC/CRM or FRTB; knowledge of market risk regulations
• Attention to detail, willingness to learn, strong work ethic, team player

• Competitive retirement plan in addition to State plans
• Mandatory Medical Plan provided by the bank as a top-up to Social Security health benefits for you and your family.
• Employees and family members can receive free health advice 24/7 through a range of English and French speaking medical providers
• Life and disability insurance
• Time Savings Account ('CET') to save some of your leave days, cash them out or use them later
• Reimbursement of 50% of your commuter pass
• Nursery scheme for children under age 3
• Works council benefits
• Access to an Employee Assistance Programme for confidential support and help for everyday matters
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering with local charities
• Opportunity to receive free entry to arts exhibitions sponsored by Bank of America in Paris