Quant Analyst – London recruitment
Role summary
The successful analyst working in the Bank Operational Risk Oversight – Capital, Governance and Reporting team in London, will be involved in the development and maintenance of the second generation of the Operational Risk capital model. The candidate will contribute to the development of both the statistical techniques and necessary implementation tools required to measure Operational Risk exposure and capital.
Furthermore the successful candidate will have to support the function in ensuring that any policies, standards and procedures relating to the model are up to date.
The key relationships for this role are with the Operational Risk Managers, Model Validation and the Regulators.
The role involves
- Support the delivery of the updates to the operational risk capital model. Among other this includes the development of operational loss data parameter estimation methodology, external data scaling and extreme losses parameterization, correlation measurement approach, etc.
- Ensure the timely development of the system tools (e.g. data manipulation tools, parameter estimation and visualization tools, convolution algorithms) supporting the above updates.
- Provide quality assurance (testing, documentation) on all quantitative elements of the operational risk model to ensure internal/external approval.
- Liaison with Validation team on various quantitative discussions regarding the capital modelling.
- Contribute in ensuring that the economic capital model is consistent with the AMA framework, incorporating risk transfer / mitigation techniques.
- Assist in the application of the operational risk framework.
- Ensure adherence to the BORO governance process.
- Building strong relationships to work with operational risk colleagues across the bank.
- Ad-hoc project work, including participation in departmental wide operational risk related issues
Divison/Department Overview
BORO overview:
- Helping the bank understand, assess, challenge and mitigate operational risks, especially for major risks that affect more than one division.
Among our activities there are:
Capital, Governance Reporting
- Communicating best practice solutions throughout the firm and ensuring that lessons learned are shared across the bank
- Developing and implementing methodologies for determining operational risk capital and other management information reporting
- Leading the regulatory and external dialogue on operational risk
- High level communication and reporting to Capital and Risk Management Committee (CARMC)
- Responsibility for internal and external loss data collation across the firm
Strategic Operational Risk Management
- Increasing operational risk transparency in the IB division
- Assist in IB Business Operating Reviews (Business self–assessments)
- Investigation of large IB operational risk incidents and performing targeted reviews
- Lead or assist in operational risk mitigation or remediation programmes in the IB division
- Cross-divisional operational risk remediation projects
- Candidate Value Proposition
- 1-2 years – build core operational risk model processes and support approval oricess.
- 2-5 years – involvement in/ lead highly visible/ impactful review projects with exposure/ interactions with Senior Management and Regulators.
Qualifications
TO QUALIFY, YOU MUST POSSESS:
- PhD / MSc in numerical principle.
- 3-5 years of work experience in a financial institution with solid understanding and practical experience of model development.
- Strong experience in VBA/S-Plus/R or other similar packages necessary.
- Experience in Basel II/RWA and Economic Capital requirements.
- Experience in an operational risk management role is strongly preferred.
Personal skills requirements
- Excellent mathematical and computing skills.
- Outstanding Analytical and Problem Solving skills.
- Strong organisational skills and ability to work under pressured timelines.
- Team player but comfortable with self-working.
- Ability to communicate complex concepts to varied audiences in a logical and precise manner.
- Sensitivity to business needs requirements.
Company Profile
As one of the world's leading financial services group, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Founded in 1856, Credit Suisse has a long tradition of meeting the complex financial needs of a wide range of clients, offering advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally. The Credit Suisse Group is active in over 50 countries and employs approximately 40,000 people. Further information can be found at www.credit-suisse.com.
Cultural diversity is essential to our success. As such, we employ people from more than 100 countries. Credit Suisse empowers employees to work openly and respectfully with each other and with clients, ultimately striving to deliver superior results while offering initiatives and programs to assist employees achieve a healthy work-life balance.
Right place, perfect opportunity
www.credit-suisse.com/careers
Credit Suisse is an Equal Opportunity Employer and does not discriminate in its employment decisions on the basis of any protected category.
To the extent permitted or required by applicable law, a candidate who is offered employment will be subject to a criminal record check and other background checks before the appointment is confirmed.