Quantitative Finance Analyst
About The Position
At Bank of America, the Quantitative Finance Analyst conducts quantitative analysis of counterparty credit risk (CCR) arising in the Global Markets business. The role supports management of counterparty limit frameworks—including Stress Gap, Wrong Way Risk, and Contingent Market Risk—monitors secondary risk factors, performs point-of-weakness analysis of CCR portfolios, and generates management reporting for internal stakeholders, governance, and regulators. The analyst manages counterparty stress-based concentration limit frameworks across asset classes, product types, and industry sectors. The role performs business-as-usual CCR stress testing, including scenario design and implementation, and analyzes results to explain key risk-exposure drivers. The analyst partners with Credit Officers, Enterprise Credit Risk, and FLU Sales & Trading on CCR limit calibration and new trade approvals, and leads sector-specific portfolio reviews and specialized deep dives on individual counterparties. Additional responsibilities include developing and maintaining risk analytics and secondary Points of Weakness measures, producing supplementary analysis based on material Risk IDs, collaborating with Market Risk coverage on a consistent risk approach, representing CCR in regulatory exams and ongoing monitoring, addressing regulatory findings, presenting special topics, and monitoring CCR model performance while challenging GRA to enhance models. Bank of America describes its culture as inclusive and supportive of teammate wellness and career development. It is committed to an in-office culture that supports collaboration, engagement, and career development, with flexibility based on role-specific responsibilities and business needs.
Requirements
- Solid understanding of derivative products, with broad knowledge across FX, rates, equity, commodities, and credit asset classes.
- Knowledge of counterparty credit risk measurement techniques for derivatives and financing transactions.
- Excellent written and verbal communication skills.
- Self-starter who excels in a fast-paced environment.
- Strong computer skills.
- Master’s degree in a related field or equivalent work experience.
Nice To Haves
- Degree in finance, economics, or statistics.
- Prior experience in a risk manager role covering Global Markets products.
Responsibilities
- Manage counterparty stress-based concentration limit frameworks across asset classes, product types, and industry sectors.
- Perform business-as-usual CCR stress testing, including scenario design, implementation, and analysis of results to explain key risk-exposure drivers.
- Partner with Credit Officers, Enterprise Credit Risk, and FLU Sales & Trading on CCR limit calibration and new trade approvals to support underwriting.
- Lead sector-specific CCR portfolio reviews and specialized deep dives on individual counterparties.
- Develop and maintain risk analytics and secondary Points of Weakness measures to support products, risks, and client strategies.
- Develop supplementary risk analysis based on material Risk IDs and collaborate with Market Risk coverage to apply a consistent risk approach.
- Represent CCR in regulatory exams and ongoing monitoring, address regulatory findings, and present on special topics.
- Monitor CCR model performance and challenge GRA to enhance models.
- Generate management reporting for internal stakeholders, governance, and regulators.
Benefits
- Industry-leading benefits
- Access to paid time off
- Resources and support for employees
- Annual discretionary award eligibility based on individual performance and behaviors, line-of-business or group performance, and overall company success
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
