Senior Quantitative Finance Analyst

3 days ago

New York, United States Disability Solutions 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 conduct independent review and testing of wide variety of models based on advanced statistical techniques, as well as artificial intelligence (AI) and machine learning (ML) techniques, for models supporting Global Operations. Portfolio includes models for critical business purposes with continual senior management and regulatory focus. The Senior Quantitative Finance Analyst role is especially designed to provide both thought leadership and hands-on expertise in methodology, techniques, and compliance with model risk management guidelines.

The position will be responsible for:
  • Performing model review activities including but not limited to independent model validation/challenge, annual model review, ongoing monitoring report review, required action item review, and peer review.
  • Conducting governance activities such as model identification, model approval and breach remediation reviews to manage model risk.
  • Providing methodological, analytical, and technical support to effectively challenge and influence the strategic direction and tactical approaches of these projects.
  • Communicating and working directly with relevant modeling teams and their corresponding Front Line Units; and if needed, communicating, and interacting with the third line of defense (e.g., internal audit) as well as external regulators.
  • Writing technical reports for distribution and presentation to model developers, senior management, audit, and banking regulators.
  • Acts as a leader and Subject Matter Expert (SME) to help management's decision making and guide junior team members.


Required Qualifications & Skills:
  • PhD or Masters in a quantitative field such as Mathematics, Physics, Finance, Engineering, Computer Science or Statistics.
  • 8+ years of total work experience in quantitative research, model development, and/or model validation.
  • Strong knowledge of financial, mathematical, and statistical theories and practices, and a deep understanding of modeling process, model performance measures, and model risk governance. Understanding of additional risks of AI/ML models will be a plus.
  • Proficient in at least one high-level language like Python and R.
  • Domain knowledge such as banking operations, stress testing and technology related to operations management / enablement is a plus.
  • Strong written and verbal communication skills and collaboration skills. This role involves communicating with various groups within the firm including stakeholders with non-technical background.
  • Critical thinking and ability to independently and proactively identify/suggest/resolve issues.


Shift:
1st shift (United States of America)

Hours Per Week:
40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$125,000.00 - $210,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

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