Quantitative Finance and Analytics Manager

4 weeks ago

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

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 leading a team to develop or validate quantitative analytics and models for specific business units or risk types. Job expectations include supporting business units and acting as a subject matter expert on specified quantitative modeling techniques, as well as serving as the first or second line of defense overseeing model performance, model risk, and model governance on critical model portfolios.

Team Description:

On a quarterly basis, members of the Quantitative Finance and Analytics Team run models, perform in-depth analysis, prepare summary results and presentation materials, which are presented to Finance and Business partners for approval. Also, the Quantitative Finance and Analytics Team discusses forecasts derived using statistical models with technical and non-technical audiences, including presenting financial results in a non-technical manner to Heads of Business and Senior Management. In addition, the team helps work through the model validation process and maintains process documentation, as required for internal governance or regulatory requirements. The results are used in deliverables for the CCAR (Comprehensive Capital Analysis and Review), the Federal Reserve s annual assessment of the capital adequacy for the largest and most complex U.S. Banks, and OCC s equivalent DFAST requirement. Both mid-year and year-end reporting is required, and is completed through the compilation of FR Y-14A reporting templates and supporting documentation. The role is for a Quantitative Finance Manager to manage the Quantitative Finance and Analytics Team. This is an excellent opportunity for growth, as this team interacts across all of GBAM s business units, including Lines of Business, Finance, Risk, and other support partners.

Responsibilities:

Leads a quantitative team with model coverage of specified focus areas and oversees stakeholder engagement, including team effort in preparation for audit and regulatory exams Sets priorities related to quantitative modeling 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 Additional Role Responsibilities: Analyze and attest to results and reasonableness; present results to business heads and other stakeholders, and answer questions for EST and regulators Work with development teams and validation teams to ensure that model development and validation requirements are metWork with GT&O to ensure a smooth coordination around model execution platformsPlan, coordinate, and implement medium-to-longer-term enhancements to forecast processes and methodologies; decide team priorities and work assignments in the face of tight schedulesDevelop and guide long-term visions to leverage GBAM Stress Testing s Forecasting and Reporting platform

Skills:

Business Acumen Critical Thinking Regulatory Relations Talent Development Technical Documentation Policies, Procedures, and Guidelines Management Project Management Risk Analytics Risk Management Stakeholder Management Required Qualifications: Master's degree or equivalent in Economics, Finance, or a related quantitative field, or related work experience 5 years of experience with technical or quantitative projects in the financial services industry Good coding skills, preferably in RExcellent communication skills and an ability to communicate statistical models to non-technical audiencesStrong management skills and leadership qualities

Desired Qualifications:

Experience developing or running statistical models in R, with a special focus on time series modeling to support running econometric modelsPerforming CCAR Stress Testing and utilizing methodologies to project revenue and balance sheet through models/qualitative approachesUsing strong analytical, critical thinking and problem solving skills to lead or facilitate discussions across various levels of stakeholders/support partners

Shift:1st shift (United States of America)

Hours Per Week: 40

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