Senior Quantitative Finance Analyst

1 day ago

San Francisco CA United States Bank of America Full time

Senior Quantitative Finance Analyst - Consumer Model Development & Operations Team

Charlotte, North Carolina; Atlanta, Georgia; McLean, Virginia; San Francisco, California; Chicago, Illinois; Westlake Village, California

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 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

Overview of Global Risk Analytics:

Bank of America Merrill Lynch has an opportunity for a Sr Quantitative Finance Analyst within our Global Risk Analytics (GRA) function. 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 these activities.

Overview of the Role:

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.

Responsibilities:

  1. Perform end-to-end market risk stress testing including scenario design, implementation, results consolidation, internal and external reporting, and analyzing stress scenario results.
  2. Lead the planning related to setting quantitative work priorities in line with the bank’s overall strategy.
  3. Identify continuous improvements through reviews of model development or validation tasks, and provide critical feedback on technical documentation.
  4. Maintain and provide oversight of model development and model risk management in respective focus areas.
  5. Provide methodological, analytical, and technical guidance to effectively challenge and influence model development and validation projects.
  6. Perform statistical analysis on large datasets and interpret results using both qualitative and quantitative approaches.

Required Skills:

  1. Master or PhD in Mathematics, Economics, Statistics, or similar discipline, with a minimum of 5 years relevant experience.
  2. First-hand experience in large data analysis, statistical model estimation, implementation, and testing.
  3. Ability to work in a large, complex organization, and influence various stakeholders.
  4. Strong programming skills in SQL, Python, R.
  5. Strong analytical and problem-solving skills.
  6. Strong communication skills to effectively communicate quantitative topics to various audiences.

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

Shift: 1st shift (United States of America)

Hours Per Week: 40

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