Senior Quantitative Finance Analyst

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 and Role Responsibilities
Bank of America Merrill Lynch has an opportunity for a Sr. Quantitative Financial Analyst 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 Consumer Model Development
The Consumer Model Development & Operations (CMDO) team is part of Global Risk Analytics. It provides quantitative solutions to enable effective risk and capital management across the Retail and Global Wealth & Investments Management (GWIM) lines of business.

The team places strong emphasis on delivering world class quantitative solutions for Front Line Unit (FLU) model owners and stakeholders through a disciplined and iterative development process. The team has responsibilities across a number of areas:

Quantitative Modeling Develop and maintain risk and capital Models and Model Systems across Retail and GWIM product lines. Models and Model Systems provide insight into many risk areas, including loan default, exposure at default (EAD), loss given default (LGD), delinquency, prepayment, balances, pricing, risk appetite, revenues and cash flows.
Quantitative Development Architect, implement, maintain, improve and integrate quantitative solutions on strategic GRA platforms. Outputs include GRA libraries that perform consumer risk model calculations, analytical tools, processes and documentation. Partner in defining, adopting, and executing GRA s technical strategy.
Risk and Capital Management Capabilities Build best in class quantitative solutions that enable the Retail and GWIM lines of business to effectively manage risk and capital, through the application of the disciplined BAU development process that includes extensive interaction with the FLU model owners and stakeholders throughout the quantitative lifecycle.
Infrastructure Partner in driving forward the infrastructure to support the goals of GRA through code efficiencies, and expansion of quantitative capabilities to better leverage infrastructure and computational resources.
Documentation Deliver concise, quantitative documentation to inform stakeholders, meet policy requirements, and enable successful engagement in regulatory exams (e.g., CCAR, CECL) via automated, modularized, and standardized documentation and presentations.

Successful candidates will possess the following skills:

Masters or PhD in Statistics, Economics, Computer Science, or similar discipline

Minimum 5 years relevant experience
Develop quantitative solutions on large-scale datasets end-to-end including data extraction, data processing, variable selection, application of statistical and AI/ML algorithms, and performance and sensitivity testing.
Ability to work in a large, complex organization, and influence various stakeholders and partners
Self-starter; Initiates work independently, before being asked
Strong communication skills and ability to effectively communicate quantitative topics to technical and non-technical audiences;
Strong programming skills in Python, R, or similar language
Experience in complex data processing and software development lifecycle with high code quality and efficiency

Desired Skills and Experience
The ideal candidate will possess the following skills and experience:
Past consumer credit experience to support loss forecasting (CCAR/CECL), risk management, and business strategy is a plus
Past software engineering and development experience is a plus
Quantitative thought leadership with ability to execute, strong documentation skills
Experience with data analytics tools, such as Tableau
Demonstrated ability to innovate and drive action to achieve results
Effectively presents analytical finding and quantitative conclusions to influence senior leaders

Skills:

Critical ThinkingQuantitative DevelopmentRisk AnalyticsRisk ModelingTechnical DocumentationAdaptabilityCollaborationProblem SolvingRisk ManagementTest EngineeringData ModelingData and Trend AnalysisProcess Performance MeasurementResearchWritten CommunicationsShift:1st shift (United States of America)Hours Per Week: 40

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