Quantitative Risk Analyst

2 weeks ago


Charlotte, North Carolina, United States Bank of America Full time
Position Overview:

As a leading financial institution, Bank of America is committed to enhancing financial well-being through meaningful connections. We prioritize Responsible Growth, ensuring we deliver value to our clients, employees, communities, and shareholders.

Role Summary:
This position involves executing quantitative analysis and modeling initiatives tailored to specific business sectors or risk categories. The successful candidate will engage in the development of innovative models, analytical frameworks, and systems methodologies, while also preparing technical documentation for related processes and collaborating with technology teams to implement the developed models.

Key Responsibilities:
  • Conduct comprehensive market risk stress testing, including scenario design, execution, results aggregation, and reporting, while analyzing stress test outcomes to discern key influencing factors.
  • Assist in strategizing quantitative work priorities aligned with the overarching goals of the organization.
  • Identify opportunities for continuous enhancement through evaluations of model development and validation processes, providing constructive feedback on technical documentation.
  • Support model development and risk management initiatives to fulfill business needs and align with the organization's risk appetite.
  • Offer methodological and analytical guidance to effectively challenge and influence the strategic direction of development and validation projects.
  • Collaborate closely with model stakeholders and senior leadership to communicate submission and validation results.
  • Perform statistical analyses on extensive datasets, 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
  • Effective Written Communication

Education and Experience:
Candidates should possess a Master's or PhD in Mathematics, Economics, Statistics, or a related field, along with a minimum of two years of relevant experience in statistical analysis, data science, or econometrics.

Preferred Qualifications:
Ideal candidates will have:
  • Experience in data analysis, statistical model estimation, and testing.
  • Proficiency in programming languages such as Python, SQL, and familiarity with libraries like Pandas and NumPy.
  • Experience in quantitative documentation using LaTeX.
  • Strong analytical and problem-solving capabilities.
  • Ability to effectively present quantitative analyses to stakeholders.

Additional Skills:
Experience with big data technologies (e.g., HDFS, HIVE, Spark) and familiarity with CI/CD tools (e.g., Git, JIRA) will be advantageous. Knowledge of credit card and consumer lending practices, as well as experience with regulatory frameworks such as CCAR and CECL, is also desirable.

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