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Quantitative Risk Analyst

2 months ago

Chicago, Illinois, United States Bank of America Full time

Quantitative Risk Analyst

Location: Flexible

Position Overview:

At Bank of America, we are driven by a shared mission to enhance financial well-being through meaningful connections. Our commitment to Responsible Growth shapes our operations and our dedication to serving clients, employees, communities, and shareholders alike.

We prioritize creating an inclusive and diverse workplace, recognizing the value of varied backgrounds and experiences. Our investment in our employees and their families is reflected in our competitive benefits, designed to support their physical, emotional, and financial health.

Bank of America champions collaboration while also offering flexibility tailored to the diverse roles within our organization.

Joining Bank of America means embarking on a rewarding career filled with opportunities for learning, growth, and impactful contributions.

Key Responsibilities:

This role entails executing quantitative analysis and modeling initiatives for designated business sectors or risk categories. Primary duties include:

  • Developing and refining quantitative risk models, analytical tools, and applications to support market risk evaluation and regulatory capital calculations in accordance with current and forthcoming regulatory frameworks.
  • Enhancing quantitative models and analytics for the organization’s stress testing initiatives.
  • Establishing model performance monitoring metrics, including benchmarking and backtesting, to continuously identify and address potential model vulnerabilities.
  • Collaborating closely with Global Markets Risk and Front-Line Units for internal risk management, as well as with technology partners for model implementation and oversight.
  • Conducting quantitative analyses in preparation for regulatory examinations and maintaining regular communication with global supervisory regulators.

Essential Skills:

  • Critical Thinking
  • Quantitative Development
  • Risk Analytics
  • Risk Modeling
  • Technical Documentation
  • Adaptability
  • Collaboration
  • Problem Solving
  • Risk Management
  • Data Modeling
  • Data and Trend Analysis
  • Research
  • Effective Written Communication

Minimum Education Requirement:

A Master's degree in a relevant field or equivalent professional experience.

Required Qualifications:

  • Advanced degree in quantitative disciplines such as Mathematics, Financial Mathematics, Quantitative Finance, Statistics, Econometrics, Physics, or Computer Science.
  • A minimum of 2 years of industry experience.
  • Proficiency in programming, preferably in Python or a similar object-oriented language.
  • Experience with derivatives pricing and/or statistical analysis of financial data is preferred.

Desired Qualifications:

  • Familiarity with market risk models including FRTB Standard Approach, FRTB Internal Model Approach, Value at Risk, and Stress Testing.
  • Attention to detail and the ability to independently analyze complex problems with intellectual curiosity.
  • Strong verbal and written communication skills.
  • Capacity to deliver high-quality results in a fast-paced environment.

Shift: First shift (United States of America)

Hours Per Week: 40

Bank of America is committed to equal employment opportunities and affirmative action, ensuring a workplace free from discrimination based on race, religion, gender, sexual orientation, and other protected statuses. We strive to create a safe and supportive environment for all employees.