Vice President; Senior Quantitative Finance 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!

Responsibilities:

• Validate XVA and Counterparty Credit Risk system models and feeder models of counterparty systems developed by Quantitative Strategy Group and Global Risk Analytics, including all asset classes: interest rates, foreign exchange, inflation, equity, commodity, credit, mortgage, as well as collateral exposure modelling.

• Review the underlying assumptions, theory, derivation, empirical evidence, implementation and limitations of the model being validated.

• Prepare validation reports and technical documents for the model being validated.

• Work closely with the model stakeholders (business, market risk, finance/PVG and other control functions) with respect to compensating controls of the models and communication of validation outcomes.

• Maintain a sub-portfolio of model inventory and perform annual model reviews, on-going monitoring reviews, and required actions items closure.

• Analyze and evaluate large and complex economic and financial datasets with analytical tools Python, SQL and R.

• Use big data technologies SQL to manage large volumes of data produced by complex financial forecasting models.

• Develop and evaluate quantitative modeling and analytics projects in risk analytics and loss forecasting leveraging tools R, and Python; and C++.

• Validate the suitability of modeling techniques based on the theory and application of Partial Differential Equations for counterparty purposes.

• Remote work may be permitted within a commutable distance from the worksite.

Required Skills & Experience:

• Master's degree or equivalent in Finance, Statistics, Mathematics, or related; and

• 3 years of experience in the job offered or a related quantitative occupation.

• Must include 3 years of experience in each of the following:

• Analyzing and evaluating large and complex economic and financial datasets with analytical tools Python, SQL and R;

• Using big data technologies SQL to manage large volumes of data produced by complex financial forecasting models;

• Developing and evaluating quantitative modeling and analytics projects in risk analytics and loss forecasting leveraging tools R, Python and C++; and,

• Validating the suitability of modeling techniques based on the theory and application of Partial Differential Equations for counterparty purposes.

If interested apply online at www.bankofamerica.com/careers or email your resume to bofajobs@bofa.com and reference the job title of the role and requisition number.

Employer: Bank of America N.A

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525)

Pay and benefits information

Pay range

$160,000.00 - $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.