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Senior Quantitative Finance Analyst

Chicago, Illinois;Charlotte, North Carolina; Atlanta, Georgia; Houston, Texas

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.

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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.

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

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

Minimum Education Requirement: Master’s degree in related field or equivalent work experience

Overview of Global Risk Analytics - Bank of America Merrill Lynch has an opportunity for a Snr QFA within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM). GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard. GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities. Overview of the Team - Global Markets Risk Analytics (GMRA) team is responsible for developing, maintaining, and monitoring Counterparty Credit Risk (CCR), the Internal Model

Method (IMM), Central Clearing Counterparties (CCP), and Value at Risk (VaR) models

• GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.

• GMRA team has a rich pool of diverse talent with quantitative and qualitative skillsets

• Partners with Front Office, Risk Management, Finance and Technology

This is a highly visible role within GMRA and the broader organization. Overview of the Role & Key Responsibilities:

• Responsible for independently conducting quantitative analytics and complex modeling projects. Leads efforts in development of new models, analytic processes or system approaches. Creates documentation for all activities and may work with technology staff in design of any system to run models developed. Incumbents possess excellent quantitative/analytic skills and are able to influence strategic direction, as well as develop tactical plans

• Master's degree or PhD required (preferably in Mathematics, Statistics, Physics or related field) and 5+ years’ experience working in quantitative modelling on behalf of a global financial institution.

• Experience with mathematically sophisticated financial modelling.

• Ability to express technical concepts clearly in written and spoken English

• Programming skills: key languages are C++ and Python; a solid understanding of sound software development principles

• Up-to-date knowledge of industry trends and developments, a commercial instinct, and an understanding of sound risk management principles.

• Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions

• Ability to multitask with excellent time management skills

• Sense of focus and rigor in the completion of deliverables

• Pro-active behavior with capacity to seize initiative

Shift:

1st shift (United States of America)

Hours Per Week:

40

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