Quantitative Finance Risk Model Reviewer

4 weeks ago

Rapid City, South Dakota, 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. Our company is committed to being a great place to work for our teammates around the world, and we achieve this by 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.

We believe 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.

As a member of our team, you will have a great career with opportunities to learn, grow and make an impact, along with the power to make a difference.

Key Responsibilities:

  • Conduct thorough reviews and critical assessments of models, focusing on conceptual soundness, assumptions, data integrity, performance, implementation, and documentation.
  • Develop and execute effective testing plans, benchmarks, and testing code to challenge models through empirical analyses and verify implementation accuracy.
  • Engage in ongoing model review activities, including independent validation, ongoing monitoring report review, and addressing action items as necessary.
  • Collaborate closely with Model Developers, Model Engineers, and Global Control Functions to prioritize and complete validation activities, ensuring alignment with organizational objectives.
  • Provide support to senior management by delivering key findings and assisting in interactions with external regulators.
  • Write technical reports for distribution and presentation to various stakeholders, including model developers, senior management, audit, and regulatory authorities.

Requirements:

  • Masters degree in related field or equivalent work experience.
  • Minimum of 3 years of experience in statistics and econometrics (time series, regression modeling, etc.).
  • Excellent coding ability in programming with Python, SAS or R.
  • Experience working with large and complex data sets using Excel or SQL.
  • Excellent communication and writing skills, with a keen attention to detail.
  • Demonstrated ability to work effectively in a team environment with a strong work ethic.

Preferred Qualifications:

  • Experiences with commercial credit risk rating, capital estimation and loss forecasting.
  • Deep understanding and knowledge of model performance measures.
  • Extensive knowledge of banking regulations on credit risk, model risk and credit risk modeling methodologies.

Work Environment:

1st shift (United States of America)

40 hours per week

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law.

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