Quantitative Finance Analyst

3 weeks ago

Chicago, Illinois, 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:

Bank of America is looking for a quantitative finance analyst in the Counterparty Model Risk Management team. The group is a multi-national team within Enterprise Model Risk Management primarily based in New York and London. It covers all aspects of model validation and model risk management of front office Credit/Funding Value Adjustment (XVA) models, margin models, and counterparty credit risk (CCR) models including counterparty Internal Method Models (IMM). The team XVA/CCR/IMM calculation for over-the-counter derivatives ranging across all asset classes from interest rates, FX, commodity, inflation, equity, credit and collateral modeling. Candidate will work closely with front office and Global Risk Analytics model developers, as well as Finance/PVG and other risk management groups.

Validate XVA/CCR/IMM system models and feeder models of bank s counterparty systems developed by Quantitative Strategy Group and Global Risk Analytics, including all asset classes: IR (Interest Rates), FX (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
Perform independently testing to identify/quantify model risk associated with the model being validated
Prepare validation report 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, Required Actions Items closure and etc.
Participate in MRM engagements with regulatory bodies

Minimum Education Requirement: Master s degree in related field or equivalent work experience, PhD preferred.

Required Qualifications:

PhD in quantitative fields such as mathematics, statistics, physics or equivalent
In depth understanding of financial mathematics including stochastic calculus and probability theory, as well as derivative pricing and risk models including interest rates and credit risk modelling.
Exceptional knowledge of financial derivatives, OTC trading and hedging, collateral management, capital management, bank s operations and regulatory requirements
Expertise in IMM Basel Capital requirements and IMM CRR is a strong plus
Strong coding ability in Python, R, C++ is a plus
5 years work experience is required in quantitative modelling and/or validation in CVA/CCR or derivative pricing models. Experience with counterparty modelling is a plus.
Predisposed to critical thinking, intellectually curious, detailed-oriented, well-organized, quick learning and a team player with good communication skills (both written and verbal)

Shift:1st shift (United States of America)

Hours Per Week: 40

  • Quantitative Finance Analyst

    15 hours ago

    Chicago, Illinois, United States Bank of America Full time

    About the RoleWe are seeking a highly skilled Quantitative Finance Analyst to join our team at Bank of America. As a key member of our Global Risk Analytics function, you will be responsible for conducting quantitative analytics and modeling projects to support our business units and risk management teams.Key ResponsibilitiesDevelop and maintain complex...

  • Quantitative Analyst

    3 days ago

    Chicago, Illinois, United States Capgemini Full time

    About the RoleWe are seeking a highly skilled Quantitative Analyst to join our team at Capgemini. As a Quantitative Analyst, you will be responsible for analyzing and managing risk across various financial portfolios.Key ResponsibilitiesAnalyze and interpret complex financial data to identify trends and patternsDevelop and implement risk management...

  • Quantitative Analyst

    2 weeks ago

    Chicago, Illinois, United States The Ladders Full time

    Position OverviewAs a Quantitative Analyst at The Ladders, your primary responsibility will be to uncover trading opportunities through rigorous analysis. Your strong quantitative skills and coding knowledge will enhance the innovation process, enabling your colleagues to leverage your findings effectively. Project CollaborationDuring your tenure, you will...

  • Quantitative Finance Researcher

    6 days ago

    Chicago, Illinois, United States IMC Inc Full time

    Position Overview: IMC Inc is seeking skilled quantitative analysts specializing in Fixed Income to innovate trading strategies and valuation models across the US Interest Rate Curve. The successful candidates will play a pivotal role in merging IMC's market-making expertise with sophisticated modeling of US Government Bonds and yield curve assessments. Key...

  • Quantitative Analyst for Campus Research

    2 weeks ago

    Chicago, Illinois, United States The Ladders Full time

    About The Ladders:The Ladders is dedicated to pioneering research excellence. We empower talented individuals in Mathematics, Physics, and Computer Science to explore scientific frontiers, break through barriers, and apply innovative research to the global financial landscape. Our environment fosters creativity, intellectual integrity, and a strong...

  • Lead Quantitative Analyst

    2 weeks ago

    Chicago, Illinois, United States Algo Capital Group Full time

    Opportunity for a Senior Quantitative Analyst at Algo Capital GroupAlgo Capital Group is on the lookout for a Senior Quantitative Analyst to enhance our innovative team. This position offers a compelling mix of quantitative research and development tasks, paving the way for professional growth and creative contributions.In this role, you will work alongside...

  • Quantitative Strategy Analyst

    2 weeks ago

    Chicago, Illinois, United States Algo Capital Group Full time

    Opportunity for a Senior Quantitative Analyst at Algo Capital GroupAlgo Capital Group is in search of a Senior Quantitative Analyst to enhance our innovative team. This position offers a remarkable opportunity to engage in both quantitative research and development, fostering an environment ripe for professional advancement.In this role, you will partner...

  • Quantitative Risk Analyst

    2 weeks ago

    Chicago, Illinois, United States Bank of America Full time

    Quantitative Risk AnalystLocation: FlexiblePosition Overview:At Bank of America, we are driven by a shared mission to enhance financial well-being through meaningful connections. Our commitment to Responsible Growth shapes our operations and our dedication to serving clients, employees, communities, and shareholders alike.We prioritize creating an inclusive...

  • Quantitative Trading Analyst

    3 weeks ago

    Chicago, Illinois, United States AlphaGrep Full time

    AlphaGrep is a quantitative trading and investment firm founded in 2010. We are one of the largest firms by trading volume on Indian exchanges and have significant market share on several large global exchanges as well.We use a disciplined and systematic quantitative approach to identify factors that consistently generate alpha. These factors are then...

  • Strategic Quantitative Analyst

    2 weeks ago

    Chicago, Illinois, United States Anson McCade Full time

    Anson McCade is a prestigious proprietary trading firm specializing in high-frequency and intraday trading, with a global presence. We are currently seeking Strategic Quantitative Analysts, particularly those focused on short-term Futures or Equities strategies, who are eager to develop or join a trading desk and implement their own strategies in exchange...

  • Equity Options Quantitative Analyst

    2 weeks ago

    Chicago, Illinois, United States Durlston Partners Full time

    Equity Options Quantitative Analyst - Systematic Trading - Competitive CompensationDurlston Partners is seeking a skilled Equity Options Quantitative Analyst to join a successful Equities OMM team. This position is ideal for a quantitative professional looking to transition into a research-focused role.The successful candidate will possess strong programming...

  • Senior Quantitative Analyst

    2 weeks ago

    Chicago, Illinois, United States Jkbarnes Full time

    Senior Quantitative Analyst – HFT Proprietary Trading FirmJkbarnes is a forward-thinking proprietary trading firm specializing in high-frequency trading (HFT) with a dedicated team of research professionals focusing on options, cryptocurrencies, and futures markets. We are in search of an experienced quantitative analyst to enhance our research...

  • Senior Quantitative Analyst

    2 weeks ago

    Chicago, Illinois, United States Quanta Search Full time

    Company Overview:Quanta Search is dedicated to assisting organizations in pricing and managing risk effectively. Our work culture emphasizes collaboration among traders, quantitative analysts, technologists, and development teams, all striving to tackle the most challenging issues in the financial markets. We are committed to making a positive impact on the...

  • Quantitative Analyst

    2 weeks ago

    Chicago, Illinois, United States Albert Bow Full time

    Company Overview:Albert Bow is a leading global proprietary trading firm specializing in high-frequency trading strategies. We are currently seeking a talented Quantitative Analyst to enhance our trading operations.Role Overview:The successful candidate will leverage advanced trading technologies to formulate and implement algorithmic trading strategies...

  • Quantitative Investment Analyst

    2 months ago

    Chicago, Illinois, United States Brookfield Public Securities Group Full time

    The Position:The Firm is seeking a quantitative investment analyst in its Chicago office. This person will work with investment and risk professionals across the firm to enhance existing investment strategies and create new products. The candidate should have experience participating in the design and implementation of quantitatively driven investment...

  • Quantitative Research Specialist for Crypto Markets

    2 weeks ago

    Chicago, Illinois, United States Quanta Search Full time

    Join a Leading Proprietary Trading FirmA prominent and expanding proprietary trading firm is seeking a highly skilled Senior Quantitative Research Analyst to enhance its research team. This role offers a unique opportunity to engage with senior executives, ensuring that the firm's research initiatives are unparalleled in the industry.Key...

  • Analyst - Corporate Finance

    2 weeks ago

    Chicago, Illinois, United States Fifth Third Full time

    OVERVIEW:At Fifth Third Bank, we are dedicated to connecting talented individuals with exceptional career opportunities. If you are looking to advance your career in finance, consider joining our team.ROLE SUMMARY:The Investment Banking Analyst I is responsible for conducting a variety of intricate analytical tasks, valuation assessments, and financial...

  • Financial Analyst

    3 days ago

    Chicago, Illinois, United States Northern Trust Full time

    About Northern TrustNorthern Trust is a leading global financial institution with a rich history dating back to 1889. As a Fortune 500 company, we have established ourselves as a trusted provider of innovative financial services and guidance to individuals, families, and institutions.Job SummaryWe are seeking a highly skilled Senior Financial Analyst to join...

  • Corporate Finance Analyst/Senior Analyst

    6 days ago

    Chicago, Illinois, United States Fitch Group Full time

    About Fitch Group: At Fitch, we foster an open culture that encourages the exchange of ideas and perspectives across all levels of the organization. Every employee's voice is valued, allowing for meaningful contributions and impact. We celebrate diversity and authenticity, creating an environment where individuals can be their true selves. Our inclusive...

  • Lead Quantitative Analyst, Buy-Side, PhD Preferred

    2 weeks ago

    Chicago, Illinois, United States Parallel Partners Full time

    Principal Quantitative Researcher, Buy-Side, PhD Preferred We are in search of a Principal Quantitative Researcher with a focus on Buy-Side strategies and a PhD preferred, for an exciting opportunity. Key Responsibilities: Collaborate with technology and business teams to gain insights into intricate financial markets, products, and strategies. Examine...