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Sr Quantitative Financial Analyst-NR
4 months ago
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locations
Charlotte
Atlanta
Chicago
time type
Full time
posted on
Posted 2 Days Ago
job requisition id
24010263
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:
The Wholesale Risk Analytics Model Development team creates best in class model to forecast losses on BAC’s loan book. Model Development team members possess the skills needed to understand and evaluate data. They develop next-generational quantitative tools and analysis to support our growing internal and external demands. As such, they can produce professional research, transition conceptual frameworks into programming logic and communicate complex topics to a wide range of audiences. A variety of quantitative and qualitative skills are required for these tasks. Models are developed utilizing multiple tools including Python, SQL, SAS, Hadoop and others. Typical techniques include Simulation, Cross-Section analysis, Stochastic analysis and Time-Series Analysis.
Critical Models include: CALBR (501678) - Forecasts scenario-dependent net charge-offs (NCO), asset quality (AQ) distributions, and point-in-time transition matrices for most of Bank of America's (BAC) reservable Commercial and Industrial (C&I) loan book and non-income producing Commercial Real Estate (CRE) exposures to satisfy the requirements of four key model uses - CCAR, CECL, IFRS9 and ECB/EBA ICAAP. New Climate models (CALBR Climate – 606044 and CRELL Climate 606045) to address risks associated with Transition and Physical climate related impacts.
This job is also 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.
Skills:
Critical Thinking
Quantitative Development
Risk Analytics
Risk Modeling
Technical Documentation
Adaptability
Collaboration
Problem Solving
Risk Management
Test Engineering
Data Modeling
Data and Trend Analysis
Process Performance Measurement
Research
Written Communications
Qualifications:
• Advanced (i.e. Masters or PhD) degree in Math, Economics, Statistics, Engineering, Finance, Computer Science or similar discipline
• 5+ years professional experience developing credit risk models
• Strong Programming skills e.g. R, Python, SAS, SQL or other languages
• Strong analytical and problem-solving skills
• Experience with LaTeX
• Experience using and developing cross-sectional models
• Effectively creates a compelling story using data; Able to make recommendations and articulate conclusions supported by data
• Effectively presents findings, data, and conclusions to influence senior leaders
• Demonstrated leadership skills; Ability to exert broad influence among peers
• Ability to work in a large, complex organization, and influence various stakeholders and partners
• Ability to work in a highly controlled and audited environment
Desired Qualifications:
• Experience with complex data architecture, including modeling and data science tools and libraries, data warehouses, and machine learning
• Experience implementing models into various production environments
• Ability to extract, analyze, and merge data from disparate systems, and perform deep analysis
• Experience developing and maintaining complex databases and data sets
• Experience using data mining and other advanced analytical techniques to aggregate data for model development and/or to produce management reporting
• Experience managing large data sets utilizing tools such as Hadoop
• Experience designing, developing, and applying scalable Machine Learning and Artificial Intelligence solutions
• Experience with data analytics and visualization tools (e.g., Alteryx, Tableau, MicroStrategy)
• Experience building data architecture that is optimized for large dataset retrieval, analysis, storage, cleansing, and transformation
• Demonstrated ability to drive action and sustain momentum to achieve results
• Identifies, assigns, and manages project tasks and timelines across teams
• Experience with engineering complex, multifaceted processes that span across teams; Able to document process steps, inputs, outputs, requirements, identify gaps and improve workflow
Shift:
1st shift (United States of America)
Hours Per Week:
40
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Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure.
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Seven steps to a successful interview
1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview?
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