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Quantitative Risk Analyst

2 months ago

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

At Bank of America, we are committed to enhancing financial well-being through meaningful connections. Our approach to Responsible Growth is foundational to our operations and how we serve our clients, colleagues, communities, and stakeholders daily.

We prioritize creating an inclusive and diverse workplace, investing in our employees and their families with competitive benefits that support their overall well-being.

We believe in collaboration and flexibility, adapting our approach based on the diverse roles within our organization.

Being part of Bank of America offers a fulfilling career with opportunities for personal and professional growth, along with the ability to make a significant impact.

Position Summary:
This role involves executing quantitative analysis and modeling initiatives tailored to specific business sectors or risk categories. Key duties encompass the development of innovative models, analytical processes, and systems methodologies, along with creating technical documentation for associated tasks and collaborating with Technology teams to design systems for model execution. A comprehensive understanding of financial markets and products is essential.

Key Responsibilities:
  • Conducts comprehensive market risk stress testing, including scenario design, implementation, results aggregation, internal and external reporting, and analysis of stress scenario outcomes to identify key drivers.
  • Assists in strategizing quantitative work priorities aligned with the bank's overarching goals.
  • Identifies opportunities for continuous improvement through reviews of model development and validation processes, providing constructive feedback on technical documentation.
  • Facilitates model development and risk management in designated focus areas to meet business needs and the enterprise's risk appetite.
  • Offers methodological, analytical, and technical guidance to effectively influence the strategic direction of development and validation projects, while identifying potential risks.
  • Collaborates closely with model stakeholders and senior management to communicate submission and validation results.
  • Performs statistical analyses on extensive datasets, interpreting results through both qualitative and quantitative lenses.
Required Skills:
  • Critical Thinking
  • Quantitative Development
  • Risk Analytics
  • Risk Modeling
  • Technical Documentation
  • Adaptability
  • Collaboration
  • Problem Solving
  • Risk Management
  • Test Engineering
  • Data Modeling
  • Data and Trend Analysis
  • Process Performance Measurement
  • Research
  • Written Communication
Minimum Education Requirement: Master’s degree in a relevant field or equivalent professional experience.

At Bank of America, we are dedicated to making financial lives better through every connection. Responsible Growth is integral to our operations and how we serve our clients, colleagues, communities, and stakeholders.

Qualifications:
  • 2+ years of experience in model development, statistical analysis, data analytics, or quantitative research, or a PhD.
  • Ability to craft compelling narratives using data; capable of making recommendations and articulating conclusions supported by data.
  • Strong programming skills in languages such as R, Python, SAS, SQL, or others.
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, machine learning, and artificial intelligence techniques.
  • Ability to extract, analyze, and integrate data from various systems, performing in-depth analyses.
  • Experience in designing, developing, and implementing scalable Machine Learning and Artificial Intelligence solutions.
  • Familiarity with data analytics tools (e.g., Alteryx, Tableau).
  • Demonstrated ability to drive initiatives and maintain momentum to achieve results.
  • Experience with engineering complex processes that span multiple teams; capable of documenting process steps, inputs, outputs, requirements, identifying gaps, and enhancing workflows.
  • Ability to see the broader picture and identify innovative methods for improvement.
  • Experience with LaTeX.
Shift:
1st shift (United States of America)

Hours Per Week:
40