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 drivers

Supports the planning related to setting quantitative work priorities in line with the bank’s overall strategy and prioritization

Identifies 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/validation

Supports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite

Supports 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 risk

Works closely with model stakeholders and senior management with regard to communication of submission and validation outcomes

Performs statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches

Minimum Education Requirement & Skills:

Master's degree in related field (preferably background in Mathematics, Financial Mathematics/Engineering, Quantitative Finance, Statistics, Econometrics, Physics, computer science, or equivalent) and 2+ years’ experience, PhD preferred.

Working knowledge of risk or pricing models for fixed income or commodity products

Understanding of regulatory capital and risk management framework and stress testing requirement

Solid working experience in a related field (Market Risk, Middle Office)

Broad financial product knowledge

Proven programming skills (Python, C++, SQL, or equivalent object-oriented programming) to write reusable and testable code to develop tools and improve process efficiency for reporting and calculation automation

Experience in data analysis, with excellent research and analytical skills

Pro-active behavior with capacity to seize initiative

Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions

Ability to multitask with excellent time management skills

Desired Skills and Experience

Past experience in Interbank Offering Rate (IBOR) transition / Fundamental Review of the Trading Book (FRTB) is a plus

General Skills:

Critical Thinking

Quantitative Development

Risk Analytics

Risk Modeling

Technical Documentation

Adaptability

Collaboration

Problem Solving

Risk Management

Test Engineering

Data Modeling

Data and Trend Analysis

Process Performance Measurement

Research

Written Communications

Shift:

Hours Per Week: