Business Analyst – Market Risk (FRTB IMA)

About the role

We are looking for an experienced Business Analyst to join a leading investment bank in London and support the implementation of the Fundamental Review of the Trading Book (FRTB) – Internal Models Approach (IMA). The role focuses on market risk, regulatory compliance and data‑driven analysis.

Key responsibilities

• Collaborate with Front Office, Risk, IT and Quant teams to gather and document business and functional requirements for FRTB IMA.
• Support the implementation and testing of P&L Attribution (PAT/PLA) and Risk Factor Eligibility Test (RFET) frameworks.
• Analyse market data, construct time‑series, identify data gaps and ensure modellability.
• Perform data reconciliation across systems to meet regulatory standards.
• Work with IT on system enhancements, data pipelines and model integration.
• Assist in UAT planning, execution and defect tracking.
• Produce high‑quality documentation such as BRDs, FRDs, process flows and test cases.
• Respond to regulatory reporting and audit queries.

Required profile

• Proven experience as a Business Analyst in market risk or investment banking.
• Hands‑on involvement in FRTB (IMA) implementation projects.
• Strong understanding of market‑risk concepts (VaR, ES, sensitivities) and Basel/BCBS regulations.
• Bachelor’s or Master’s degree in Finance, Mathematics, Engineering or a related field.

Required skills

• Python (pandas, numpy)
• SQL / data querying
• Experience with risk engines such as Murex, Calypso or Athena

What we offer

• Opportunity to work on a high‑impact regulatory transformation program.
• Collaboration with cross‑functional teams in a leading investment bank.
• Professional development in market‑risk analytics and regulatory compliance.