Quantitative Finance Analyst

Job Description:

Job Title: Quantitative Finance Analyst

Corporate Title: Up to Vice President

Location: Paris

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!

Location Overview:

Based in the 8th arrondissement and within the Parisian Golden Triangle, our beautiful Art-Deco era office benefits from luxury modern workspaces, an abundance of natural light and is easily accessible by public transport.

Role Description:

Bank of America is seeking a Quantitative Finance Analyst to join its Enterprise Model Risk Management (MRM) organization in Paris. MRM provides independent oversight and challenge of model risk across the firm, with responsibility for the validation of new and existing models, ongoing risk assessment and monitoring, identification and escalation of model-related issues, oversight of remediation activities, and maintenance of the firmwide model inventory.

As part of the Market Risk Model Validation team, the successful candidate will independently assess and challenge market risk models used across EU legal entities, covering key regulatory and risk-management frameworks including FRTB, VaR, RNiV, IRC/CRM and stress testing.

Responsibilities:

• 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 periodic model reviews.
• Contribute to regulatory examinations, audits, and other team initiatives by preparing supporting analyses, documentation, and responses to regulatory requests.
• 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
• Supports 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
• Supports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
• Supports the 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

Required Skills:

• Advanced degree in a technical field such as mathematics, physics, statistics, financial mathematics, quantitative finance, computer science or engineering
• Strong programming skills, e.g., in Python
• Strong written and oral communication
• Attention to detail, willingness to learn, strong work ethic, team player
• Some knowledge/experience of market risk, relevant financial instruments and their risk profiles, and corresponding pricing methodologies is preferrable

Preferred Skills:

• Global Risk Management experience

Benefits of working at Bank of America (France):

• At Bank of America, we strive to prioritise employees’ health and wellbeing – it’s what makes us a Great Place to Work.               
• Competitive retirement plan in addition to State plans, life and disability assurance.
• 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.
• 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.
• We offer paid maternity leave, and paternity leave of up to 26 weeks (16 paid weeks and 10 unpaid), and inclusive family leave arrangements.
• Nursery scheme for children under age 3.
• Works council (‘CSE’) 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.

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, 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.

We strive to ensure that our recruitment processes are accessible for all candidates and encourage any candidates to tell us about any adjustment requirements.