We are seeking an experienced Business Analyst (BA) to support a leading investment banking client in their Fundamental Review of the Trading Book (FRTB) – Internal Models Approach (IMA) implementation program.
The ideal candidate will have hands-on experience in FRTB implementation, strong understanding of market risk frameworks, and expertise in market data, time series analysis, and regulatory metrics such as P&L Attribution (PLA/PAT) and Risk Factor Eligibility Test (RFET).
Key Responsibilities
- Work closely with Front Office, Risk, IT, and Quant teams to support FRTB IMA implementation.
- Gather, analyze, and document business and functional requirements related to market risk and FRTB regulations.
- Support implementation of P&L Attribution Tests (PAT/PLA) and Risk Factor Eligibility Test (RFET) frameworks.
- Analyze and validate market data inputs, time series construction, data gaps, and modellability requirements.
- Perform data analysis and reconciliation across systems to ensure regulatory compliance.
- Collaborate with IT teams on system enhancements, data pipelines, and model integration.
- Assist in UAT planning, execution, and defect tracking.
- Produce high-quality documentation including BRDs, FRDs, process flows, and test cases.
- Engage with stakeholders to ensure alignment with BCBS FRTB regulatory requirements.
- Support regulatory reporting and audit queries.
Required Skills & Experience
- Strong experience as a Business Analyst in Market Risk / Investment Banking domain.
- Proven hands-on experience in FRTB (IMA) implementation.
- In-depth understanding of:
- Market risk concepts (VaR, ES, sensitivities, etc.)
- P&L Attribution Test (PAT/PLA)
- Risk Factor Eligibility Test (RFET)
- Market data & time series modelling
- Hands-on experience in data analysis using Python (pandas, numpy, etc.).
- Strong SQL/data querying skills.
- Experience working with large datasets and risk systems.
- Excellent stakeholder management and communication skills.
- Familiarity with regulatory frameworks (Basel / BCBS).
Preferred / Nice-to-Have Skills
- Exposure to risk engines (e.g., Murex, Calypso, Athena, or in-house platforms).
- Understanding of modellability, stress testing, and ES calculations.
- Experience working with quants or model validation teams.
- Knowledge of Agile delivery methodologies.
Education
- Bachelor’s / Master’s degree in Finance, Mathematics, Engineering, or related field.
Business Analyst - FRTB IMA (Market Risk) in London employer: Crisil
Crisil is an excellent employer for those looking to make a significant impact in the financial services sector. With a strong commitment to employee development, we offer comprehensive training programs and opportunities for career advancement, all within a collaborative and innovative work culture. Located in a vibrant financial hub, our team enjoys a dynamic environment that fosters creativity and professional growth, making it a rewarding place to build your career in risk management.
