Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:
This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types. Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products.

Responsibilities:

Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyzes stress scenario results to better understand key driversSupports the planning related to setting quantitative work priorities in line with the bank’s overall strategy and prioritizationIdentifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validationSupports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetiteSupports the methodological, analytical, and technical guidance to effectively challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential riskWorks closely with model stakeholders and senior management with regard to communication of submission and validation outcomesPerforms statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches

Skills:

Critical ThinkingQuantitative DevelopmentRisk AnalyticsRisk ModelingTechnical DocumentationAdaptabilityCollaborationProblem SolvingRisk ManagementTest EngineeringData ModelingData and Trend AnalysisProcess Performance MeasurementResearchWritten Communications

Minimum Education Requirement: Master’s degree in related field or equivalent work experience

The AMGQS Banking Book Team is responsible for developing new alternative models across the Wholesale and Consumer business for multiple product lines, as well as maintenance and upgrades to the existing portfolio. The team has a requirement for a highly-motivated Quantitative Finance Analyst to join the team to support the enhancements to existing models and the building of new innovative model in the Wholesale and Consumer segment. The right candidate will be required to contribute across the full spectrum of model development lifecycle tasks and will be important to the successful delivery of models in this space. In addition the right candidate will be needed to contribute more broadly to the regulatory driven suite of alternative models developed by the team across the Wholesale and Consumer business. 
 
• Required to pro-actively seek out effective statistical estimation techniques required to model credit risk across our mortgage business Wholesale and Consumer loss forecasting models 
• Pro-actively work with stakeholders across the mortgage business to collect requirements and then develop and build modelling solutions to meet them 
• Implement the model using well written and well governed python code 
• Produce clear and coherent technical documentation for internal and regulatory purposes 
• Promote the adoption of, and personally meet, GRA best practices for model development, implementation and monitoring 
• Critical to the role is to be able to think outside the box of current industry standards to develop innovative approaches to modelling problems 

Required Skills: 
• Highly numerical degree (Masters required; PhD level desirable) in Statistics, Financial Mathematics, Applied Mathematics, Economics, Physics or Engineering 
•2+ years of experience in developing, documenting & maintaining risk and/or capital models and handling large datasets 
•Technical skills: Statistics, Probability Theory, Econometrics, Financial Mathematics 
• Strong programming skills; SQL, Python, VBA, Latex 
• Strong technical writing and clear verbal communication skills  
• Experience of, and ability to work under pressure and deliver to tight deadlines 
• Ability to work independently, multitask and properly prioritize work 
• Curiosity and willingness to develop and work on new ways of modelling 
 
Desired Skills: 
• Experiences in the areas of credit risk modelling, loss forecasting etc. preferred 
• Knowledge of regulatory guidelines including CCAR, DFAST, CECL, ICAAP. 
•Strong stakeholder engagement skills with an ability to work with colleagues in other functions (business, risk and model validation) 
•Organized, practical and execution focused with some project management experience 
•Self-motivated and intellectually curious about both the role, supporting technologies and the wider bank 
• Experience with LaTeX

Shift:

1st shift (United States of America)

Hours Per Week: 

40