Sr. Quantitative Finance Analyst

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
 

Job Description:
This job is responsible for conducting quantitative analytics and complex modeling projects for specific business units or risk types. Key responsibilities include leading the development of new models, analytic processes, or system approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.

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

Bank of America has an opportunity for a Senior Quantitative Finance Analyst within the Alternative Modelling Group (AMG), a Global Risk Analytics (GRA) team. Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM). The GRA team provides quantitative capabilities supporting global risk management and capital management and develops a consistent set of risk and capital models and analytical tools that support decision making across the bank. As part of GRA - Alternative Modelling Group (AMG) builds alternative models, using innovative methods, which challenge and benchmark risk and capital champion models across the enterprise; and has a vision to challenge what is possible across Risk and Capital Modelling. The role will involve re-designing, optimizing and leading the implementation and deployment of the next generation of Risk and Capital models to improve the bank’s risk management capability. This is a challenging and intellectually stimulating role, across a dynamic and innovative risk and capital modelling portfolio that spans the Enterprise.
 

Overview of the Role:
We are looking for experienced technically minded problem solvers with proven leadership credentials and the desire to work across functional areas to drive the design framework, implementation and deployment of next generation risk and capital models; including champion and challenger; able to leverage a wealth of experience in the pursuit of modelling excellence.

• Provide leadership and technical acumen and experience in the design, implementation and deployment of new models, analytic processes or systems approaches

• Critical to the role is to be able to think outside the box of current industry standards to develop innovative approaches to modelling problems

• Pro-actively work with stakeholders across the company to collect requirements and then develop and build modelling and technical solutions to meet them