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Financial Risk Analyst

2 months ago

Jersey City, New Jersey, United States Bank of America Full time
Financial Risk Analyst

Location: Jersey City, New Jersey; Charlotte, North Carolina

Position Overview:
At Bank of America, our mission is to enhance financial well-being through every connection we foster. We are committed to Responsible Growth, which reflects our dedication to our clients, employees, communities, and shareholders alike.

We prioritize creating a diverse and inclusive environment for all our employees. Our hiring practices embrace a wide array of backgrounds and experiences, and we invest significantly in our team members and their families by providing competitive benefits that support their overall well-being.

Working at Bank of America presents a unique opportunity to advance your career while making a meaningful impact. Join us in our commitment to excellence.

Key Responsibilities:
As a Financial Risk Analyst, you will be tasked with executing quantitative analysis and modeling initiatives tailored to specific business units or risk categories. Your primary responsibilities will include:
  1. Developing innovative models and analytical processes, along with creating comprehensive technical documentation.
  2. Collaborating with technology teams to design systems that effectively implement the developed models.
  3. Conducting thorough market risk stress testing, which encompasses scenario design, implementation, and results analysis.
  4. Identifying opportunities for continuous improvement through rigorous reviews of model development and validation processes.
  5. Providing methodological and analytical guidance to influence strategic and tactical project directions.
  6. Engaging with stakeholders and senior management to communicate model submission and validation outcomes.
  7. Performing statistical analyses on extensive datasets and interpreting findings through both qualitative and quantitative lenses.

Team Overview:
The Counterparty Credit Risk Portfolio Management (CCRPM) team is responsible for overseeing counterparty credit risk across the organization. This includes ensuring compliance with regulatory standards and addressing any identified gaps in the counterparty credit risk frameworks.

Your role will involve:
  1. Managing various risk limits and monitoring secondary risk factors.
  2. Conducting in-depth analyses of counterparty exposures and stress testing results.
  3. Designing tailored scenarios for specific sectors and presenting findings to relevant forums.
  4. Collaborating with various teams to enhance margin models and ensure effective governance.

Minimum Education Requirement:
A Master's degree in a related field or equivalent professional experience.

Essential Skills:
We seek candidates with strong capabilities in:
  • Critical Thinking
  • Quantitative Development
  • Risk Analytics
  • Technical Documentation
  • Collaboration and Problem Solving
  • Data Modeling and Trend Analysis

Work Schedule:
1st shift (United States of America)

Hours Per Week:
40

Bank of America is an equal opportunity employer. We consider qualified candidates for employment without regard to race, religion, gender, sexual orientation, age, national origin, or any other factor prohibited by law. We are committed to creating a workplace free from discrimination and promoting a culture of inclusivity.