Sr Quantitative Finance Analyst

1 month ago

Jersey City, 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:

Enterprise Model Risk Management seeks a Senior Quantitative Finance Analyst to oversee the risks associated with a portfolio of models used in Global Markets to support the Global Equities line of business.
The role involves hands-on expertise to conduct independent review and testing of complex models, it also requires the ability to develop tactical tools to organize ad-hoc analysis and identify emerging model risk themes. The role also requires collaboration with model development teams, front line units, and support functions hence good communication skills are required. Similarly, the Senior Quantitative Finance Analyst will produce technical reports for distribution and presentation to stakeholders including senior management, audit, and banking regulators.

This job is responsible for conducting quantitative analytics and complex modeling projects for specific business units or risk types. Key responsibilities include leading the development of new models, analytic processes, or system approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.

Responsibilities:
  • Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyzes stress scenario results to better understand key drivers
  • Leads the planning related to setting quantitative work priorities 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
  • Performs statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches
Minimum Education Requirement: PhD or Master's degree in quantitative fields such as Mathematics, Physics, Finance, Engineering, Computer Science, or equivalent.

Required Qualifications:
  • 3-5 years experience in model risk management or quantitative modelling at a financial institution with a focus on pricing models.
  • Strong written and verbal communication skills including ability to communicate clearly, effectively, and work well with people at all levels.
  • Deep understanding of the modelling process, model performance measures, and model risk.
  • Ability to manage multiple projects, follow up with issues and summarize discussions
  • Strong coding ability in Python, knowledge of LaTeX document preparation and Git Bitbucket is a plus


Shift:
1st shift (United States of America)

Hours Per Week:
40

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