Financial Risk Quantitative Analyst

2 weeks ago


Chicago, Illinois, United States Bank of America Full time

Financial Risk Quantitative Analyst at Bank of America

Location: Jersey City, New Jersey; Chicago, Illinois

Position Overview:

At Bank of America, we strive to empower individuals to enhance their financial well-being through impactful connections. Our commitment to Responsible Growth is complemented by a strong emphasis on diversity and inclusivity within our workforce. Employees enjoy competitive benefits that promote their overall health and wellness. A career with Bank of America provides numerous opportunities for professional development and advancement.

This position is centered around executing quantitative analysis and modeling initiatives tailored to specific business divisions or risk categories. You will play a key role in crafting innovative models, analytical methodologies, and system strategies, while also working closely with Technology teams to design effective systems. A comprehensive understanding of financial markets and instruments is crucial for success in this role.

The Market Risk Quants (MRQ) team, part of Global Risk Analytics (GRA), is dedicated to the development and refinement of market risk models and analytical tools. Key responsibilities include overseeing market risk models for internal risk management and compliance with regulatory standards, conducting stress tests, and assessing climate-related risks.

Key Responsibilities:

  • Designing and improving quantitative risk models, analytics, and applications for market risk evaluation
  • Collaborating with diverse teams for model execution and supervision
  • Conducting quantitative assessments for regulatory examinations and discussions

Essential Skills:

  • Analytical Thinking
  • Quantitative Development
  • Risk Analysis
  • Flexibility
  • Problem-Solving
  • Risk Management
  • Testing Methodologies
  • Data Analysis
  • Research Skills
  • Effective Written Communication

Educational Requirements: A Master's degree in a relevant discipline or equivalent professional experience

Required Qualifications:

  • Advanced degree in quantitative disciplines such as Mathematics, Financial Mathematics/Engineering, or Statistics
  • Minimum of 2 years of relevant industry experience
  • Proficiency in programming, particularly in Python
  • Experience with derivatives pricing and statistical evaluation of financial data

Preferred Qualifications:

  • Familiarity with market risk models such as FRTB, VaR, and Stress Testing
  • Strong attention to detail and analytical capabilities
  • Excellent written and verbal communication skills
  • Ability to produce high-quality results efficiently

Shift: 1st shift (United States of America)

Hours Per Week: 40

Bank of America is an equal opportunity employer that values diversity and promotes a safe workplace environment. Join us in our mission to deliver responsible financial solutions.



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