Sr. Quantitative Financial Analyst

Job Description:

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!

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 Enterprise Model Risk Management (MRM) organization is responsible for providing oversight of model risk across Bank of America. MRM independently validates and challenges newly-developed and existing models; is responsible for model risk assessments, limits and monitoring; communicates issues identified through validations to relevant businesses and governance and control functions; escalates model use breaches and remediation plans to relevant governance committees; maintains a comprehensive inventory of models across all businesses and governance and control functions; and manages an attestation process to ensure compliance with the Enterprise Model Risk Policy. The MRM Market Risk team validates risk models for the Global Markets business, which includes models for FRTB, VaR, RNiV, IRC/CRM and stress testing. 

Key Responsibilities:

• Work in a team and collaborate with model developers and other validators to perform full scope and limited change validations.

• Review the developer’s ongoing monitoring reports and their submissions to required action items.

• Perform annual model reviews.

• Participate a in EMEA regulatory projects like ICAAP and coordinate/drive activities on behalf of MRM

• Act as the regional MRO delegate in MLI

Required Qualifications:

• Advanced degree in a technical field such as mathematics, physics, statistics, financial mathematics, quantitative finance, computer science or engineering

• 10+ years' experience

• Strong knowledge of financial, mathematical and statistical theories and practices

• Strong programming skills, e.g., in Python

• Strong written and oral communication

• Strong plus: Experience with market risk models such as VaR, IRC/CRM or FRTB; knowledge of market risk regulations

• Attention to detail, willingness to learn, strong work ethic, team player

Skills:

• 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

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$125,000.00 - $210,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

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.

Benefits

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.