Senior Quantitative Finance Analyst

Job Title: Senior Quantitative Finance Analyst

Corporate Title: Director

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.

The Team:

Global Markets Risk Analytics (GMRA) is part of GRA. It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.

This role sits within the Counterparty Credit Risk Analytics Quant (CCRAQ) team that provides, maintains, and monitors models, data, and tools related to counterparty credit risk (CCR) of traded products, including models focused on both bilateral counterparty and central counterparty clearing (CCP) risk. CCRAQ supports the Credit Risk and Wholesale communities in understanding the risk drivers of material changes in model outputs.

Role Description:

Responsible for independently conducting quantitative analytics and complex modelling projects. Leads efforts in development of new models, analytic processes or system approaches. Creates documentation for all activities and may work with technology staff in design of any system to run models developed. Incumbents possess excellent quantitative/analytic skills and are able to influence strategic direction, as well as develop tactical plans.

Responsibilities:

• Communicating the results of this analysis to all model stakeholders including risk management, model development, model risk, senior management and our regulators

• Partner with internal groups including Capital, Risk, Technology, Model Risk Management and Market Risk Management on model enhancement, performance testing

• Responsibility to increase GMRA representation and collaboration with partners for BofASE entity

• Development, testing, documentation and maintenance of counterparty credit risk models: these will include risk factor simulation models, pricing models, aggregation models as well as back testing methodology

• Support of the counterparty credit risk platform, including investigation and resolution of model-related system issues and practical quantitative support to model users.

• Improvements to model development infrastructure, such as test harnesses, support utilities, visualization tools

• Work in quantitative modelling on fixed income and/or commodity products on behalf of a global financial institution

• Prepare developmental evidence and document to support internal and external exams

• Supporting model development in confirming remediation of model issues prior to their being taken live

• Driving incremental improvement to our model performance assessment tool set across all business areas

What we are looking for:

• Identifying common themes across global markets along with improvement drive

• Master's degree or PhD required (preferably in Mathematics, Statistics, Physics or related field) and several years’ experience working in quantitative modelling on fixed income or commodity products on behalf of a global financial institution.

• Experience with mathematically sophisticated financial modelling, preferably in counterparty credit risk or XVA

• Ability to express technical concepts clearly in written and spoken English

• Programming skills: key languages are C++ and Python; a solid understanding of sound software development principles

• Up-to-date knowledge of industry trends and developments, a commercial instinct, and an understanding of sound risk management principles.

• Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions

• Ability to multitask with excellent time management skills

• Sense of focus and rigor in the completion of deliverables

Skills that will help:

• Global Risk Management experience

• French speaker

Benefits of working at Bank of America (France):

• 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

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.

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