Senior Quantitative Finance Analyst

2 days ago

Jersey City, New Jersey, United States Bank of America Full time
Job Title: Senior Quantitative Finance Analyst

We are seeking a highly skilled Senior Quantitative Finance Analyst to join our team at Bank of America. As a key member of our Enterprise Model Risk Management group, you will be responsible for conducting independent review and testing of various models based on advanced statistical techniques, artificial intelligence, and machine learning.

Key Responsibilities:

  • Perform model review activities, including independent model validation, annual model review, ongoing monitoring report review, and required action item review.
  • Conduct governance activities, such as model identification, model approval, and breach remediation reviews, to manage model risk.
  • Provide methodological, analytical, and technical support to challenge and influence the strategic direction and tactical approaches of projects.
  • Communicate and work directly with modeling teams and their corresponding Front Line Units, as well as interact with third-line defense (internal audit) and external regulators.
  • Write technical reports for distribution and presentation to model developers, senior management, audit, and banking regulators.
  • Act as a leader and Subject Matter Expert (SME) to guide management's decision-making and support junior team members.

Requirements:

  • PhD or Master's degree 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, as well as a deep understanding of modeling processes, model performance measures, and model risk governance.
  • Proficient in at least one high-level language, such as Python or R.
  • Domain knowledge in banking operations, stress testing, and technology related to operations management/enabling is a plus.
  • Strong written and verbal communication skills, as well as collaboration skills, to effectively communicate with various groups within the firm.

What We Offer:

  • A competitive annualized salary of $125,000 to $210,000, based on experience, education, and skill set.
  • Discretionary incentive eligibility, with an annual discretionary award based on individual performance results and behaviors.
  • Industry-leading benefits, access to paid time off, and resources to support employees' growth and well-being.

About Bank of America:

Bank of America is committed to creating a diverse and inclusive workplace for everyone. We believe in the importance of working together and offering flexibility to our employees. Our company is guided by a common purpose to help make financial lives better through the power of every connection.

We are an equal opportunity employer and welcome applications from qualified candidates without regard to race, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status, or any other factor prohibited by law.

We are committed to providing a safe and healthy work environment for all employees. Our Drug-Free Workplace and Alcohol Policy establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

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