Job Description & Programme Overview
The Quantitative Strategies Group (QSG) is responsible for the models and analytics used in the Sales and Trading divisions within Global Markets. The group designs, builds and maintains industrial strength tools for analysing, pricing and risk managing financial products across all asset classes traded by Bank of America Merrill Lynch. The group work closely with trading, structuring, risk management and technology to provide analytics which can quickly and accurately quantify the firm’s risks. This involves developing models and algorithms able to accurately calculate the value and risk of the financial products we offer our clients.
The structure of QSG mirrors that of the Sales and Trading areas that we cover: Rates, Foreign Exchange, Credit, Commodities, Mortgages, Equities and CVA, along with teams that work in the rapidly-expanding electronic/algorithmic trading businesses within FICC (Fixed Income, Currencies and Commodities) and Equities.
Your training and development is our top priority with extensive formal training offered at the start of the programme in addition to on the job support, educational speaker events and mentorship throughout.
As an off cycle intern, your key tasks and responsibilities may include but are not limited to:
- The opportunity to build quantitative models for pricing and risk management and drive new initiatives and products as you build a strong platform to launch your career.
- Developing models and algorithms able to accurately calculate the value and risk of the financial products we offer our clients
- Assisting and shadowing senior colleagues to build quantitative models for pricing and risk management
- Work closely with technology to implement and maintain models and algorithms
- Apply new technologies to solve business problems more efficiently
- Work closely and assist with trading, sales and technology to optimize client experience, trading revenues, and trading volumes
- Assist to drive new initiatives and products in the electronic trading space.
- Candidates are required to be pursuing a degree from an accredited college or university, and in their penultimate or final year of study
- A strong academic background at undergraduate or, ideally, Masters/PhD level in a quantitative subject (Mathematics, Statistics, Physics, Engineering, Computer Science or other analytical background)
- Strong programming experience, ideally in Python, C++ or Java
- Strong statistical / data analysis skills; other preferred skills include probability, numerical analysis, optimization techniques, machine learning, high performance numerical computing, compilers and programming languages, and Monte Carlo simulation. A strong understanding of the basics of financial mathematics would also be an advantage.
- Great communication skills in order to interact effectively with our business and technology partners
- A commercial mindset and an interest in financial markets and quantitative finance
- Strong A-level grades and on track for a minimum 2:1 degree (or equivalent)
- Fluency in English is essential and a second European language may also be required for some roles
- You'll need to demonstrate drive, innovation and a genuine interest in the financial markets
- Team-working, leadership and problem-solving skills, plus creativity are key qualities, as is the ability to work in a fast-paced environment, multi-task and interact with a variety of people
- Demonstrates Accountability and Productivity
- Displays analytical and problem-solving skills
- Influences decisions and outcomes through effective communication and interpersonal skills
- Promotes cooperation and commitment within a team environment to achieve goals and deliverables
- Demonstrates integrity and ethics by earning other’s trust and respect through consistent honesty and professionalism in all interactions
Good conduct and sound judgement 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 mindset are the cornerstones of our Code of Conduct and are at the heart of managing risk well.