Quantitative Finance Manager - Stress Testing Design

Bank of America•Charlotte, NC

About The Position

Bank of America’s Global Markets Risk Management organization provides independent market risk oversight of the Firm’s trading activities. The Global Market Risk Stress Testing team manages critical enterprise processes and analysis supporting the global markets business and senior risk management. This individual contributor role supports market risk stress testing, including regulatory-mandated activities and formal and ad-hoc scenario analysis. The role has no formal management responsibilities. The position supports the design of the instantaneous Global Market Shock Scenario and other internally designed scenarios, including regulatory submission and management-requested scenarios. Work includes researching and analyzing complex data, assessing Company risks and how they may manifest in scenarios, communicating requirements to downstream users, facilitating review and challenge of scenario shocks and narratives, and preparing materials for committees. The role also serves as a key liaison with risk partners and forecasting teams across GMIR, participates in regulatory exams, and coordinates initiatives and ad-hoc priorities across GMIR.

Requirements

Bachelor’s degree in Economics or Finance; the minimum education requirement also states a master’s degree in a related field or equivalent work experience.
7+ years of work experience in banking, finance, or economic research.
Deep understanding of financial markets and macro-financial linkages.
Strong organization and planning ability, with meticulous attention to detail.
Independent, proactive thinker who takes initiative to overcome obstacles.
Ability to communicate complex economic and financial concepts to audiences with a broad range of technical sophistication.
Strong executive presence and ability to work with senior leaders in a matrixed environment.
Excellent interpersonal and written communication skills.
Collaborative team player able to connect across groups.
Ability to work effectively under pressure and manage multiple projects in a fast-paced environment.
Strong PowerPoint and Excel skills.

Nice To Haves

Prior stress testing or scenario design experience.
Knowledge of data sources and ability to research recent and historical developments.
Prior experience leading a team and/or large projects.
Master’s degree preferred.

Responsibilities

Manage the end-to-end scenario design process by indirectly leading the design team.
Design and communicate enterprise-wide and GMIR-requested scenarios to executive management and business partners.
Partner with Risk Managers, Counterparty Risk Partners, ESPE, and other forecast teams to develop market shocks and scenario narratives.
Use the Company’s risk identification processes and inventory, along with GMIR points-of-weakness documents, to design customized internal scenarios.
Integrate requirements for capital adequacy planning, stress testing, and risk appetite monitoring across key international legal entities.
Learn and evaluate stress methodologies using market shock projections, facilitate sensitivity analysis, and understand downstream impacts to losses.
Identify improvements to the scenario design process and implement solutions.
Drive Scenario Generation governance requirements, including policy and procedure updates, quarterly control evidence, and other requirements throughout the year.
Provide economic expertise in developing and customizing scenarios, including regulatory submissions and management-requested scenarios.
Conduct research and analyze complex data to support future scenario work; assess Company risks and how they may manifest in specific scenarios.
Communicate scenario requirements to downstream users and facilitate review and challenge of scenario shocks and narratives.
Create presentation materials for committees and develop executive-level presentations.
Coordinate initiatives across GMIR, execute ad-hoc priorities, and act as a liaison with risk partners and forecasting teams.
Participate in regulatory exams related to stress testing and become a subject matter expert on key aspects of market risk stress testing.