Senior Analyst in Quantitative Finance

2 weeks ago


Jersey City, New Jersey, United States Bank of America Full time
Position Title: Senior Analyst in Quantitative Finance

Location: Various Locations

Job Overview:

At Bank of America, our mission is to enhance financial well-being through every interaction. We are committed to Responsible Growth, ensuring that we meet the needs of our clients, employees, communities, and shareholders consistently.

We believe that fostering a diverse and inclusive environment is essential for our success. Our hiring practices reflect our commitment to bringing together individuals from various backgrounds and experiences. We prioritize the well-being of our employees and their families by offering a comprehensive benefits package.

Joining Bank of America means embarking on a rewarding career filled with opportunities for professional development and the chance to make a significant impact.


Role Summary:

The Enterprise Model Risk Management team is seeking a Senior Analyst in Quantitative Finance to perform independent evaluations and assessments of intricate models that utilize artificial intelligence (AI) and machine learning (ML) methodologies, including natural language processing (NLP).

This role is pivotal within the bank, attracting ongoing attention from senior management and regulatory bodies. The Senior Analyst will take on a leadership position in Model Risk Management.

This position is crafted to provide both strategic insight and practical expertise in methodologies, techniques, and processes related to the application of AI/ML models across the bank's extensive operations.

The AI/ML model portfolio encompasses various domains, including natural language processing, deep learning, ensemble learning, neural networks, recommender systems, and reinforcement learning, with a rapid expansion in generative AI and large language models (LLMs).

The analytical methods employed include, but are not limited to, Regression, Gradient Boosting Trees, Random Forest, Artificial Neural Networks, and Transformer-based architectures.


Key Responsibilities:

- Conduct model review activities, including independent validation, annual assessments, ongoing monitoring, and peer reviews.

- Engage in governance activities such as model identification, approval processes, and breach remediation to mitigate model risk.

- Provide leadership for projects involving statistical modeling and AI/ML strategies, offering methodological and analytical support to influence project direction effectively.

- Collaborate directly with relevant modeling teams and Front Line Units, and if necessary, interact with internal audit and external regulators.

- Prepare technical documentation for distribution to model developers, senior management, and regulatory bodies.

- Serve as a senior leader and Subject Matter Expert (SME) to assist management in decision-making and mentor junior team members.


Education Requirements:

PhD or Master's degree in a quantitative discipline such as Mathematics, Physics, Engineering, Computer Science, or Statistics.


Qualifications:

- A minimum of 3 years of relevant experience in financial services or technology, focusing on AI/ML, quantitative research, model development, or validation.

- Expertise in AI/ML methodologies, particularly in NLP, including applications for text processing and generative AI techniques.

- Proficiency in Python and familiarity with AI/ML libraries such as scikit-learn, TensorFlow, XGBoost, PyTorch, and spaCy.

- Understanding of financial, mathematical, and statistical principles, along with a comprehensive grasp of modeling processes and performance metrics.

- Strong communication skills, capable of conveying complex information to diverse audiences, including non-technical stakeholders.

- Ability to think critically and proactively address challenges.

- Commitment to continuous learning and sharing knowledge of advanced technologies and methodologies in the AI/ML domain.


Work Schedule:

Standard business hours.


Bank of America is an equal opportunity employer. We evaluate qualified applicants without regard to race, religion, color, sex, sexual orientation, gender identity, national origin, disability, or any other characteristic protected by law. We also maintain a drug-free workplace.



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