Credit Risk Evaluation Specialist I

2 weeks ago

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

At Bank of America, our mission is to enhance financial well-being through meaningful connections. We are committed to Responsible Growth, ensuring that we serve our clients, teammates, communities, and shareholders effectively. A vital aspect of our success is fostering a diverse and inclusive workplace. We welcome individuals from various backgrounds and experiences, investing in our employees and their families with competitive benefits that support their overall well-being. We believe in collaboration while providing flexibility tailored to the diverse roles within our organization. A career at Bank of America offers numerous opportunities for learning, growth, and making a significant impact.

Global Risk Analytics Overview

Bank of America is seeking a Risk Assessment Analyst I to join our Global Risk Analytics (GRA) team. GRA operates within the Global Risk Management (GRM) framework, focusing on developing robust models and analytical tools for effective risk and capital assessment, management, and reporting. Our team collaborates with various Lines of Business and Enterprise functions to ensure compliance with both internal and regulatory standards, including quarterly Enterprise Stress Testing (EST) and the annual Comprehensive Capital Analysis and Review (CCAR). GRA's model development process is iterative, adapting to evolving portfolios, economic conditions, and emerging risks. In addition to model development, our responsibilities encompass model implementation, data management, execution, analysis, and performance monitoring, driving innovation and process enhancement across all activities.

Team Overview

The Global Markets Risk Analytics (GMRA) team, a segment of GRA, is dedicated to developing, maintaining, and monitoring models for counterparty credit risk and market risk. GMRA also creates analytical tools to support regulatory, audit, and internal risk management requirements for Global Markets. This role is part of the Prime Clearing Analytics and Data Services (PCADS) - Data Controls & Integrity (DCI) team, focusing on ensuring effective controls and processes for validating traded products for Credit and Capital calculations. The team is actively engaged in process re-engineering, automation, and developing a comprehensive risk repository.

Role Overview

We are looking for a skilled Python Software Developer with a foundational understanding of counterparty credit risk management systems within major banking institutions. The ideal candidate will be a key contributor to our compact development team, possessing extensive experience in enterprise software development. Responsibilities include:
  • Designing, developing, and implementing automated data integrity controls.
  • Writing reusable, testable, and efficient Python code.
  • Collaborating with lead developers to implement Python application architectures and designs.
  • Maintaining existing applications to support operational needs.
  • Producing documentation, including design documents and class diagrams.
  • Conducting testing with technical peers and functional end users to ensure successful project launches.
  • Supporting ad-hoc operational queries for DCI.
  • Promoting quality engineering and best coding practices across the organization.
Required Qualifications:

• Bachelor’s degree in Computer Science, Financial Engineering, or a related STEM field.

• Strong background in Python and Object-Oriented Programming.

• 2-5 years of experience in the financial services sector (including large banks, brokers-dealers, hedge funds, or financial/data intermediaries).

• Proficiency in MS Office suite is essential.

• Excellent verbal and written communication skills.

• Ability to manage time-sensitive issues, prioritize multiple projects, and articulate decision-making processes.

• Familiarity with Data Incident Tracking tools such as JIRA/eDIM.

• A collaborative personality that fosters teamwork.

Desired Qualifications:

• Proven programming skills in Python, Tableau, SQL, and object-oriented programming.

• Previous experience in Quartz development at Bank of America is advantageous.

• Basic understanding of traded products in global markets, counterparty credit risk, collateral, netting, and exposures is beneficial.

Shift:
1st shift (United States of America)

Hours Per Week:
40

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