Sr Quantitative Finance Analyst

Bank of America • Plano, TX

1d • $125,000 - $210,000 • Onsite

About The Position

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 a diverse and 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. The role within the Model and Testing Standards Oversight (MTSO) team will support the development and oversight of processes, standards, and controls across the model lifecycle in which Global Risk Analytics (GRA) / Enterprise Independent Testing (EIT) models are executed. The team collaborates with different GRA model development groups to evolve best practices and with Model Risk Management to adapt to changes in Enterprise and Regulatory requirements and expectations. Bank of America. At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Requirements

• 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
• Minimum 4 years’ experience in the financial services industry.
• Strong knowledge / experience in model risk management practices / related regulatory requirements.
• Degree in a relevant quantitative discipline.
• Good analytical and quantitative capabilities.
• Highly organized and able to execute multiple priorities.
• Strong oral and written communication skills.
• Ability to develop strong working relationships with teammates as well as senior management.

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
• Development and oversight of model management processes and standards, including model development, performance monitoring, implementation, and usage.
• Perform critical analysis and assess feedback from model development groups on processes, controls, and metrics design/optimization across model lifecycle.
• Assess impact from changes to Enterprise and Regulatory requirements, lead implementation of changes to processes and provide ad-hoc consultancy and resolution of process enquiries.
• Support the development of corresponding workflow infrastructure / technology for model related processes.
• Project manage change initiatives, defining discrete actions, timelines, and tracking to completion.
• Enhancing ongoing monitoring and related risk management capabilities.
• Support model-related regulatory engagements and the compilation of regulatory materials.
• Participate in Quality Control routines across model lifecycle, analyze results and provide feedback, formulate actions and identify process improvements.
• Provide support on an ad-hoc basis to other non-model related horizontal MTSO team initiatives.

Benefits

• This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
• This role is currently benefits eligible.
• We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 5,001-10,000 employees