Sr. Quantitative Finance Analyst

Bank of America • Charlotte, NC

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 an 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. 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 Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are 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 and EIT partner 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 and EIT drive innovation, process improvement and automation. As a Quantitative Finance Analyst on Scenario & Enterprise Risk Analytics (SERA) Model Development team, your main responsibilities will involve: Developing and documenting best-in-class risk models, quantitative analysis and tools. Performing in-depth analysis on the Bank’s wholesale credit risk model results using various quantitative tools such as benchmarking, sensitivity analysis. Articulating the overall holistic picture of model performance, with clear conclusions regarding accuracy and remediation areas as required. Communicating model results to model stakeholders, including risk management, model development, model risk, senior management, and regulators. This candidate will support developing and documenting best-in-class risk models, quantitative analysis and tools. Performing in-depth analysis on the Bank’s risk model results using various quantitative tools such as benchmarking, sensitivity analysis.

Requirements

• 5 years of work experience is required.
• Basic understanding of economic theory and economic modeling.
• Strong interpersonal and decision-making skills.
• Strong Collaboration and Team skills.
• Demonstrated problem solving skills.
• Effective communicator at all levels with strong oral, written & influencing skills.
• Integrates seamlessly across complex set of stakeholders, internal partners, external resources.
• Aware, flexible, adaptive, and proactive.
• Strong organizational and project management skills (Horizon).
• Knowledge of database and SQL language for Oracle, and Hive/Impala
• Knowledge of Banking and Finance domain and/or experience working with model developers.
• Python programming experience, (numerical programming and data wrangling libraries).
• Strong troubleshooting and debugging skills in Python.
• Understanding code development process steps using SDLC tools: PyCharm & Git.
• Skills: Critical Thinking
• Skills: Quantitative Development
• Skills: Risk Analytics
• Skills: Risk Modeling
• Skills: Technical Documentation
• Skills: Adaptability
• Skills: Collaboration
• Skills: Problem Solving
• Skills: Risk Management
• Skills: Test Engineering
• Skills: Data Modeling
• Skills: Data and Trend Analysis
• Skills: Process Performance Measurement
• Skills: Research
• Skills: 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
• 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
• Developing and documenting best-in-class risk models, quantitative analysis and tools.
• Performing in-depth analysis on the Bank’s wholesale credit risk model results using various quantitative tools such as benchmarking, sensitivity analysis.
• Articulating the overall holistic picture of model performance, with clear conclusions regarding accuracy and remediation areas as required.
• Communicating model results to model stakeholders, including risk management, model development, model risk, senior management, and regulators.
• This candidate will support developing and documenting best-in-class risk models, quantitative analysis and tools.
• Performing in-depth analysis on the Bank’s risk model results using various quantitative tools such as benchmarking, sensitivity analysis.

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