Quantitative Finance Analyst
Bank of America
Bank of America has an opportunity for a Quantitative Finance Analyst within the Alternative Modelling Group & Quantitative Solutions (AMG-QS) of Global Risk Analytics (GRA).
Global Risk Analytics (GRA) is a sub line of business within Global Risk Management (GRM). The GRA team provides quantitative capabilities supporting global risk management and capital management and develops a consistent set of risk and capital models and analytical tools that support decision making across the bank.
As part of GRA - Alternative Modelling Group & Quantitative Services (AMG-QS) builds alternative models, using innovative methods, which challenge and benchmark risk and capital champion models across the enterprise; and has a vision to challenge what is possible across Risk and Capital Modelling
The role will involve the development and enhancement of next generation of Risk and Capital models to improve the bank’s risk management capability. This is a challenging and intellectually stimulating role in a dynamic team that is used to delivering in a timely manner across the Enterprise.
Overview of the Role:
We are looking for technically minded problem solvers with the desire to work across a number of functional areas to drive the development of next generation risk and capital models; including champion and challenger, using traditional regression methods and next-generation modelling techniques.
• Critical to the role is to be able to think outside the box of current industry standards to develop innovative approaches to modelling problems
• Pro-actively work with stakeholders across the company to collect requirements and then develop and build modelling solutions to meet them; and effectively communicate those solutions to stakeholders
• Provide insight and thought leadership into the development of new models, analytic processes or systems approaches
• Promote the adoption of GRA best practices for model development, implementation and monitoring
• Pro-actively work with stakeholders across the firm to identify opportunities to improve existing models/processes
• Produce clear and coherent technical documentation for internal and regulatory purposes
• Take ownership to deliver results and meet critical deadlines
• Highly numerical degree (Masters required and PhD level desirable) in Statistics, Financial Mathematics, Applied Mathematics, Economics, Physics or Engineering
• 2+ years of work 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
• Experiences in the areas of credit risk modelling, operational risk modelling, loss forecasting etc. preferred
• Knowledge of regulatory guidelines including CCAR, DFAST, CECL, DFAST, 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
Shift:1st shift (United States of America)
Hours Per Week:40