Quantitative Finance Analyst

1 month ago

Charlotte, North Carolina, United States Bank of America Full time

Quantitative Finance Analyst -Alternative Modeling Group

Jersey City, New Jersey;Charlotte, North Carolina

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

The Alternative Modeling Group Banking BookTeam is responsible for developing new alternative models across the Wholesale and Consumer business for multiple product lines, as well as maintenance and upgrades to the existing portfolio. The team has a requirement for a highly-motivated Quantitative Finance Analyst to join the team to support the enhancements to existing models and the building of new innovative model in the Wholesale and Consumer segment. The right candidate will be required to contribute across the full spectrum of model development lifecycle tasks and will be important to the successful delivery of models in this space. In addition the right candidate will be needed to contribute more broadly to the regulatory driven suite of alternative models developed by the team across the Wholesale and Consumer business.

  • Required to pro-actively seek out effective statistical estimation techniques required to model credit risk across our mortgage business Wholesale and Consumer loss forecasting models
  • Pro-actively work with stakeholders across the mortgage business to collect requirements and then develop and build modelling solutions to meet them
  • Implement the model using well written and well governed python code
  • Produce clear and coherent technical documentation for internal and regulatory purposes
  • Promote the adoption of, and personally meet, GRA best practices for model development, implementation and monitoring
  • Critical to the role is to be able to think outside the box of current industry standards to develop innovative approaches to modelling problems

Required Skills:

  • Highly numerical degree (Masters required; PhD level desirable) in Statistics, Financial Mathematics, Applied Mathematics, Economics, Physics or Engineering
  • 2+ years of experience in developing, documenting & maintaining risk and/or capital models and handling large datasets
  • Technical skills: Statistics, Probability Theory, Econometrics, Financial Mathematics
  • Strong programming skills; SQL, Python, VBA, Latex
  • Strong technical writing and clear verbal communication skills
  • Experience of, and ability to work under pressure and deliver to tight deadlines
  • Ability to work independently, multitask and properly prioritize work
  • Curiosity and willingness to develop and work on new ways of modelling

Desired Skills:

  • Experiences in the areas of credit risk modelling, loss forecasting etc. preferred
  • Knowledge of regulatory guidelines including CCAR, DFAST, CECL, ICAAP.
  • Strong stakeholder engagement skills with an ability to work with colleagues in other functions (business, risk and model validation)
  • Organized, practical and execution focused with some project management experience
  • Self-motivated and intellectually curious about both the role, supporting technologies and the wider bank
  • Experience with LaTeX

Shift:

1st shift (United States of America)

Hours Per Week:

40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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To view the "EEO is the Law" Supplement, CLICK HERE ) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America's Drug-free Workplace and Alcohol Policy, CLICK HERE .

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.

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