Quantitative Finance Analyst

Bank of America•Charlotte, NC

3d•Onsite

About The Position

This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types. Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products. Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM), responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing its activities, GRA drives innovation, process improvement and automation. Scenario and Enterprise Risk Analytics organization provide valuable insights into decision-making processes by decoding and quantifying risks to support our business strategy to achieve responsible and sustainable growth. Our vision is to serve as the go-to function to answer day-to-day risk management questions via state-of-the-art modeling and analytical tools. We want to add value and be relevant beyond regulatory and internal compliance. As a Quantitative Finance Analyst on the team, your main responsibilities will involve: Development of wholesale credit risk models including loss forecasting, commercial scorecards, behavioral score, regulatory capital models. Executing in-depth analysis of wholesale credit performance and financial data. Preparing white papers for developed models. Interacting with internal model risk management, addressing potential concerns, and remediating model related findings. Supporting post implementation activities including ongoing monitoring review and interaction with various stakeholders. May be responsible for independently conducting quantitative analytics and complex modeling projects. Support efforts in development of new models, analytic processes, or system approaches. Creates documentation for all activities and may work with technology staff in design of any system to run models developed. Incumbents possess excellent quantitative/analytic skills.

Requirements

Master's degree or higher in Computer Science, Data Science, Statistics, Mathematics, Finance, or a related quantitative discipline.
Strong STEM background - Knowledge of Machine Learning, NLP, Deep Learning, Statistical Modeling, Quantitative Analysis, Forecasting, Data Visualization
Proficiency in languages such as Python (scikit learn, pandas, numpy etc.), SQL, SAS, R & MATLAB, C/C++
Prior experience with SQL. And NoSQL databases, distributed computing
Knowledge of data visualization tools like Tableau, Power BI
Minimum of 2 years of relevant experience
Applied statistics skills, such as distributions, statistical testing, regression, etc.
Strong business analysis and documentation skills, including requirements, process flows, and data lineage
Ability to manage multiple and competing priorities
Excellent written and verbal communication skills

Nice To Haves

Critical Thinking
Quantitative Development
Risk Analytics
Risk Modeling
Technical Documentation
Adaptability
Collaboration
Problem Solving
Risk Management
Test Engineering
Data Modeling
Data and Trend Analysis
Process Performance Measurement
Research
Written Communications

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
Supports 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
Supports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
Supports the 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
Development of wholesale credit risk models including loss forecasting, commercial scorecards, behavioral score, regulatory capital models.
Executing in-depth analysis of wholesale credit performance and financial data.
Preparing white papers for developed models.
Interacting with internal model risk management, addressing potential concerns, and remediating model related findings.
Supporting post implementation activities including ongoing monitoring review and interaction with various stakeholders.
May be responsible for independently conducting quantitative analytics and complex modeling projects.
Support efforts in development of new models, analytic processes, or system approaches.
Creates documentation for all activities and may work with technology staff in design of any system to run models developed.