Quantitative Finance Analyst

Bank of America•Charlotte, NC

2d•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. 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. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Requirements

Advanced (i.e. Masters or PhD) degree in Math, Economics, Statistics, Engineering, Finance, Computer Science or similar discipline
5+ years professional experience developing credit risk models.
Strong Programming skills e.g. R, Python, SAS, SQL or other language
Experience with LaTeX
Experience using and developing cross-sectional models.
Effectively creates a compelling story using data; Able to make recommendations and articulate conclusions supported by data.
Effectively presents findings, data, and conclusions to influence senior leaders.
Demonstrated leadership skills; Ability to exert broad influence among peers.
Ability to work in a large, complex organization, and influence various stakeholders and partners
Strong team player able to seamlessly transition between contributing individually and collaborating on team projects; Understands that individual actions may require input from manager or peers; Knows when to include others
Ability to work in a highly controlled and audited environment

Nice To Haves

Experience with complex data architecture, including modeling and data science tools and libraries, data warehouses, and machine learning
Experience implementing models into various production environments
Ability to extract, analyze, and merge data from disparate systems, and perform deep analysis
Experience developing and maintaining complex databases and data sets
Experience using data mining and other advanced analytical techniques to aggregate data for model development and/or to produce management reporting.
Experience managing large data sets utilizing tools such as Hadoop.

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
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
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.
Helps with any planning related to setting quantitative work priorities in line with the bank’s overall strategy and prioritization.
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.