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Financial Risk Quant Analyst

2 months ago

Chicago, Illinois, United States Bank of America Full time
Position Overview:

At Bank of America, we are driven by a unified mission to enhance financial well-being through meaningful connections. Our commitment to Responsible Growth is the foundation of our operations, ensuring we serve our clients, colleagues, communities, and shareholders effectively every day.

We strive to create 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, which promote physical, emotional, and financial health.

Bank of America emphasizes collaboration while providing flexibility tailored to the diverse roles within our organization.

Joining our team means embarking on a fulfilling career with ample opportunities for learning, growth, and making a significant impact.

Role Responsibilities:
This position entails conducting quantitative analysis and modeling initiatives for specific business sectors or risk categories. Key duties include:
  • Executing comprehensive market risk stress testing, which encompasses scenario design, implementation, results consolidation, and reporting, while analyzing stress scenario outcomes to discern key drivers.
  • Assisting in the strategic planning of quantitative work priorities aligned with the bank's overarching objectives.
  • Identifying opportunities for continuous improvement through evaluations of model development and validation processes, providing constructive feedback on technical documentation, and effectively challenging model development/validation efforts.
  • Facilitating model development and risk management within designated focus areas to meet business needs and align with the enterprise's risk appetite.
  • Offering methodological, analytical, and technical guidance to influence the strategic direction and tactical approaches of development/validation projects while identifying potential risks.
  • Collaborating closely with model stakeholders and senior management to communicate submission and validation results.
  • Conducting statistical analyses on extensive datasets and interpreting findings through both qualitative and quantitative lenses.
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
  • Written Communication
Educational Requirements:
A Master's degree in a relevant field or equivalent professional experience is required.

Overview of the Role:
As a Financial Risk Quant Analyst within the Enterprise Risk Analytics team, your primary responsibilities will include:

• Applying quantitative methodologies to develop capabilities that satisfy business, risk management, and regulatory requirements.

• Continuously enhancing these capabilities to adapt to evolving portfolios, economic conditions, and emerging risks.

• Executing activities that encompass the complete model development and utilization lifecycle.

• Clearly documenting and effectively communicating quantitative methodologies as part of ongoing engagement with key stakeholders, including business lines, risk managers, model validation teams, and technology partners.

Required Experience and Skills:
  • Graduate degree in a quantitative discipline (e.g., Mathematics, Economics, Engineering, Finance, Physics).
  • 2+ years of experience in model development, statistical analysis, data analytics, or quantitative research, or a PhD.
  • Ability to navigate a large, complex organization and influence various stakeholders.
  • Self-motivated; takes initiative in work without prompting.
  • Strong team player capable of transitioning between individual contributions and collaborative projects.
  • Excellent communication skills, with the ability to convey quantitative topics to both technical and non-technical audiences.
  • Proficient in presenting findings and data to influence senior leadership.
  • Experience working in a highly regulated and audited environment.
  • Strong prioritization, time management, and project management skills.
  • Proficient programming skills in languages such as R, Python, SAS, SQL, or similar.
  • Strong analytical and problem-solving abilities.
Desired Skills:
  • Experience with complex data architectures, including modeling and data science tools, data warehouses, and machine learning.
  • Knowledge of predictive modeling, statistical sampling, optimization, and machine learning techniques.
  • Strong technical writing and presentation skills.
  • Ability to extract, analyze, and merge data from various systems for in-depth analysis.
  • Experience designing and implementing scalable Machine Learning and Artificial Intelligence solutions.
  • Familiarity with data analytics tools (e.g., Alteryx, Tableau).
  • Demonstrated ability to drive action and maintain momentum to achieve results.
  • Leadership skills with the ability to influence peers.
  • Experience engineering complex processes that span multiple teams.
  • Ability to see the broader picture and identify innovative methods for improvement.
Shift:
1st shift (United States of America)

Hours Per Week:
40