Senior Quantitative Finance Manager

Job Description:
Job Title:Senior Quantitative Manager
Corporate Title: MD
Location: London
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:
Our London office is based just a stone's throw from the magnificent St. Paul's Cathedral on bustling King Edward Street. Here you'll find modern workspaces and a state-of-the-art auditorium space. In addition, we're proud to host an onsite restaurant that shares our commitment to sustainability by providing delicious seasonal menus which have been created with the planet in mind. Make sure to take time for yourself and head up to our rooftop terrace and take in the spectacular views across London. Finally, your physical wellness is well-catered for with our onsite gym facilities and medical centre.
The Team:
The MRM Team validates and challenges models; is responsible for model risk assessments, limits, and monitoring; communicates issues identified through validations to relevant businesses and governance and control functions; and escalates model use breaches and remediation plans to relevant governance committees. The EMEA MRO will work with our local and global Model Risk, Compliance and Audit teams to ensure appropriate governance and are in place to per local laws, rules, and regulations.
Role Description:
Model Risk Officer ("MRO") oversees the team conducting the validation for models leveraged for use in the EMEA region and by their Legal Entities. The MRO is responsible for providing risk oversight, acting as a subject matter specialist and the second line of defence overseeing model performance, model risk and model governance. The MRO provides advice and counsel to the LOB and Risk Partners and is expected to help establish model risk policies, limits, standards, metrics, and thresholds within the model risk framework. Accountable for oversight and execution of model risk framework activities including, but not limited to, validation and ongoing monitoring reviews for models for the LOB. MROs are the senior contacts for senior level committees, regulatory exams, and audit reviews. The MRO effectively communicates model risk governance and processes to the local regulators
Responsibilities:

• Review, critical assessment, and review of EMEA models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation, and documentation
  
• Development and implementation of effective testing plans and testing code to critically question models through empirical analyses and to verify model implementation
  
• Performing model review activities including but not limited to independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.
  
• Conducting governance activities such as model identification, model approval and breach remediation reviews to model risk.
  
• Communicating and working directly with relevant modeling teams and their corresponding Front Line Units; and if needed, communicating, and interacting with the third line of defence (internal audit) as well as external regulators
  
• Writing technical reports for distribution and presentation to model developers, Executives, audit, and banking regulators
  
• Participate in senior level committees and guide junior team members
  

What we are looking for:

• Masters/Ph.D.-level degree in Finance, Economics, Mathematics or related quantitative field.
  
• Previous experience on Global Markets, Banking and Credit models gained in development or validation role
  
• Extensive knowledge of industry practices in the field and knowledge of laws rules and regulations that govern model risk in EMEA
  
• Experience working with local regulators in Europe and UK including the PRA, ECB, EBA, ACPR, CBI
  
• Financial services and risk experience
  
• Inquisitive nature, ability to ask right questions and escalate issues
  
• Ability to understand and to communicate with a wide range of stakeholders clearly and effectively, both written and verbally
  
• Technical curiosity and interest in learning new skills
  
• Executive ready communication and presentation skills
  
• Ability to effectively influence and negotiate actions and outcomes across a large matrixed organization
  
• Exemplary stakeholder and relationship skills
  
• Intellectually curios and naturally strategic approach
  
• Works effectively as a manager and direct business partners through influence
  

Benefits of working at Bank of America:
UK

• 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
  
• 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 etc.
  
• Access to an emotional wellbeing helpline, mental health first aiders and virtual GP services.
  
• Access to an Employee Assistance Program for confidential support and help for everyday matters
  
• Ability to donate to charities of your choice directly through payroll and the bank will match your contribution
  
• Opportunity to access our Arts & Culture corporate membership program and receive discounted entry to some of the UK's most iconic cultural institutions and exhibitions.
  
• Opportunity to give back to your community, develop new skills and work with new groups of people by volunteering in your local community.
  

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.
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