Sr Quantitative Finance Analyst

3 weeks ago

Chicago, 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

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 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 these activities.

Overview of the Team: Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It is responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops assessment tools to support regulatory, audit, and internal risk management needs for Global Markets. This role sits within Process Engineering (PE) team, which focuses on execution of strategic projects across GMRA by providing technological tools and solutions for process improvement and modelling efficiency.

Role Description: As a Sr. Quant Finance Analyst - Quantitative developer, your primary focus will be developing, maintaining, and testing quantitative risk models, used by Global Markets. You should expect to contribute to the three main focuses of the team:
• Process Automation: improving efficiency and reducing operational risk.
• Full Revaluation VaR: providing support and in-depth analysis for the Full Revaluation VaR and FRTB IMA programs.
• Strategic Risk Platform: advising and collaborating with teams across the wider organization to centralize and better manage risk models and data

The team focuses on developing and testing new models/ systems, so a pro-active, innovative approach is key. Further, you will often be asked to bring your technical expertise to other projects, requiring strong collaboration and communication skills.

Responsibilities: As a Sr. Quant Finance Analyst - Quantitative developer, your responsibilities within the team will be to:
• Perform detailed design and lead development of a market risk system focused on model analysis.
• Work at the interface of Technology and Risk Quants
• Collaborate with a broad number of stakeholders across the Bank.
• Develop and maintain quantitative risk models.
• Clearly communicate outcomes to stakeholders and senior management
• Improve efficiency and reduce operational risk across projects.
• Take ownership of systems and changes
• Deliver in-line with the team's priorities, GRA's strategy and stakeholder's requirements.

What we are looking for:
• Bachelor's degree or equivalent with a quantitative emphasis in areas such as mathematics, engineering, or computer science (Master's preferred)
• Tracking records and ability to design, lead and develop complex systems.
• Proven programming ability in Python or a similar object-oriented programming language
• Prior financial experience, preferably within a large investment bank
• Strong communication skills and ability to work in a collaborative environment.
• Self-motivated, pro-active and an able to run with issues.
• Strong attention to detail, intellectual curiosity, and commitment to excellence.
• A team player who can work with colleagues with different experience and backgrounds.

Skills that will help:
• Python programming experience at a large, multi-national bank, using platforms such as Quartz, Athena, SecDb, etc.
• Experience with large dataset tools incl. relational databases, SQL and Tableau
• Experience developing, testing, or maintaining Risk models such as VaR, FRTB or CCAR
• Familiarity with pricing models

  • Minimum Education Requirement: bachelor's degree in related field or equivalent work experience


Shift:
1st shift (United States of America)

Hours Per Week:
40

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