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Counterparty Model Validator

il y a 2 semaines

Paris, Île-de-France Bank of America Temps plein

Job Description:

Job Title: Counterparty Model Validator

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.

Role Description:

Enterprise Model Risk Management seeks a Counterparty Model Validator to support the management of price and valuation risks associated with models used in Global Markets to support the Global Markets line of business with a particular focus on portfolio model risk analysis and Finance models. The role will also support the Legal Entity oversight of GM models in the French entity. 
The role involves hands-on expertise to conduct independent review and testing of complex models, it also requires the ability to develop tactical tools to organize ad-hoc analysis and identify emerging model risk themes. It will require collaboration with model development teams, front line units, and support functions hence good communication skills are required. The Senior Quantitative Finance Analyst will produce technical reports for distribution and presentation to stakeholders including senior management, audit, and banking regulators.

Responsibilities:

  • 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

What we are looking for:

  • Master's degree in quantitative fields such as Mathematics, Physics, Finance, Engineering, Computer Science, or equivalent

  • Experience in model risk management or quantitative modelling at a financial institution with a focus on pricing models

  • Strong written and verbal communication skills including ability to communicate clearly, effectively, and work well with people at all levels

  • Deep understanding of the modelling process, model performance measures, and model risk

  • Ability to manage multiple projects, follow up with issues and summarize discussions 

  • Strong coding ability in Python, knowledge of LaTeX document preparation and Git Bitbucket is a plus 

  • Experience with regulatory exams and interaction

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.