Sr. Quantitative Finance Analyst

Bank of America • Charlotte, NC

3d • Onsite

About The Position

At Bank of America, this role conducts quantitative analytics and complex modeling projects for specific business units or risk types. It leads development of models, analytical processes, and system approaches; creates technical documentation; and works with Technology staff on systems used to run models. The role may influence strategic direction and develop tactical plans.

The position focuses on market risk stress testing and validation of enterprise fraud prevention and detection models. It performs statistical analysis on large datasets, reviews model conceptual soundness and quantitative rigor, and develops testing or alternative models using statistical and quantitative methods. It also prepares structured validation reports and partners with business, model developers, risk, audit, and senior management throughout model development and validation processes.

The role is based at 525 Washington Blvd, Jersey City, New Jersey. Bank of America describes its approach as an in-office culture with flexibility based on role-specific responsibilities and business needs. The position is first shift and is scheduled for 40 hours per week.

Requirements

• Master’s degree in a related field or equivalent work experience.
• Advanced quantitative degree and at least 7 years of hands-on model development or validation experience in fraud detection or related financial crime areas.
• Solid grasp of traditional statistical modeling techniques, such as logistic regression, and advanced AI/ML techniques, such as gradient boosting, neural networks, random forests, and transformers.
• Expertise in model evaluation techniques, including rank ordering, ROC curves, confusion matrices, KS, cross-validation, feature importance, and SHAP values.
• Proficiency in Python, SAS, R, and LaTeX.
• Familiarity with regulatory requirements and guidelines related to risk model validation.
• Excellent verbal communication and written documentation capabilities.
• Strong analytical thinking, practical problem-solving skills, and ability to work well with people at all levels.

Nice To Haves

• Familiarity with bias and fairness testing for AI/ML models.

Responsibilities

• Perform end-to-end market risk stress testing, including scenario design and implementation, results consolidation, internal and external reporting, and analysis of scenario results and key drivers.
• Lead planning for quantitative work priorities in line with the bank’s overall strategy and prioritization.
• Identify continuous improvements by reviewing approval decisions on model development or validation tasks, providing critical feedback on technical documentation, and effectively challenging model development and validation.
• Maintain and oversee model development and model risk management in assigned focus areas to support business requirements and the enterprise’s risk appetite.
• Provide methodological, analytical, and technical guidance to challenge and influence the strategic direction and tactical approaches of development and validation projects, and identify potential risks.
• Work with model stakeholders and senior management to communicate submission and validation outcomes.
• Perform statistical analysis on large datasets and interpret results using qualitative and quantitative approaches.
• Review and validate enterprise fraud prevention and detection models for conceptual soundness and quantitative rigor, ensuring alignment with sound modeling practices, Model Governance Policy, Guidelines, Testing Playbooks, and regulatory requirements.
• Develop testing or alternative models using statistical or quantitative analysis and software such as R, SAS, and Python.
• Present model validation results in structured reports, including Initial Assessment reports, Model Validation Reports, Required Action Item Assessments, and Ongoing Monitoring Report reviews.
• Partner with and manage interactions among business, model developers, risk, and audit partners across model lifecycle and validation processes.

Benefits

• Industry-leading benefits.
• Access to paid time off.
• Resources and support for employees.
• Eligibility for an annual discretionary award based on individual performance and behaviors, business or group performance, and the overall success of the company.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior