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Bank Of America Risk Analysis Specialist II United States, North Carolina, Charlotte 336263068
24.09.2024
This job is responsible for supporting data and technology requests, complex reporting and analysis, and modeling to manage risk and minimize credit and operating losses. Key responsibilities include reviewing and analyzing portfolio trends, supporting the development of more complex databases or queries to extract data, and supporting the production of data for internal and external reporting needs. Job expectations include working with Technology to implement changes necessary to support ongoing data needs.
Responsibilities:
- Supports the development and execution of reporting to allow Risk and business partners to effectively identify and manage risk
- Analyzes trends and supports the data design, portfolio trends, loss trends, and portfolio dynamics to ensure alignment with business strategies
- Provides analytical support on various product strategic initiatives affecting multiple Risk functions and lines of business to ensure company goals are met
- Participates in the development of database production processes and performance reports for senior management, using data mining and other advanced analytical techniques to aggregate data
- Supports with responding to complex ad-hoc requests for information from both internal and external parties
- Provides support on cross-functional efforts to remediate data quality issues
- Monitors the outputs of controls and investigates alerts from the control checks
Skills:
- Attention to Detail
- Business Intelligence
- Data and Trend Analysis
- Risk Analytics
- Risk Management
- Adaptability
- Collaboration
- Continuous Improvement
- Data Visualization
- Project Management
- Business Acumen
- Issue Management
- Regulatory Relations
- Stakeholder Management
- Technical Documentation
Risk Analysis Specialist II - Operations (B5)Overview of Global Risk Analytics
Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM). GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard. GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement, and automation across all of these activities.Overview of Consumer Risk
Consumer Risk is primarily responsible for:
• Oversight and delivery of key regulatory reviews such as the Current Expected Credit Losses (CECL) accounting standard and the Comprehensive Capital Analysis & Review (CCAR), as well as other strategic initiatives, including data and infrastructure development and maintenance
• Planning and delivery of a coherent model risk management framework and infrastructure across Consumer. These efforts include the development of one universal platform for seamless model development and implementation, and improvements to the quality and consistency of the data sourced for all development and production purposes
• Developing and maintaining risk and capital models and model systems across Consumer product lines. Models and model systems provide insight into various risk areas, including loan default, exposure at default (EAD), loss given default (LGD), delinquency, prepayment, balances, pricing, risk appetite, revenues and cash flows
• Developing and implementing quantitative solutions on strategic Consumer Risk platforms. Outputs include GRA libraries that perform consumer risk model calculations, analytical tools, processes and documentation
• Conducts research and analysis to improve understanding and assessment of loan portfolios, models used, and forecast results
• Partners with Consumer lines of business, and front line Risk, Allowance, and Finance teams to ensure consistency and appropriateness of the team’s various processesOverview of the Role
As a Risk Analysis Specialist on the Consumer Risk team, your main responsibilities will include:
• Managing a portfolio of data intensive operational processes that span multiple complex technologies and infrastructures
• Building and running operational processes, across large complex multi-sourced data, often on a wide range of quantitative models using applications and coding based solutions
• Managing and monitoring controls across model execution and / or the sourcing and provisioning of complex data for multiple end-users
• Managing cycle-over-cycle executions and shaping the strategic direction of operations in a highly regulated environment
• Interacting with multiple stakeholders to drive consistent on-time delivery of well-considered and thorough solutions, often with short delivery times
• Leveraging technical skills to improve, enhance, and automate existing processes
• Providing regular updates to various stakeholders and senior leaders
Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM). GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard. GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement, and automation across all of these activities.Overview of Consumer Risk
Consumer Risk is primarily responsible for:
• Oversight and delivery of key regulatory reviews such as the Current Expected Credit Losses (CECL) accounting standard and the Comprehensive Capital Analysis & Review (CCAR), as well as other strategic initiatives, including data and infrastructure development and maintenance
• Planning and delivery of a coherent model risk management framework and infrastructure across Consumer. These efforts include the development of one universal platform for seamless model development and implementation, and improvements to the quality and consistency of the data sourced for all development and production purposes
• Developing and maintaining risk and capital models and model systems across Consumer product lines. Models and model systems provide insight into various risk areas, including loan default, exposure at default (EAD), loss given default (LGD), delinquency, prepayment, balances, pricing, risk appetite, revenues and cash flows
• Developing and implementing quantitative solutions on strategic Consumer Risk platforms. Outputs include GRA libraries that perform consumer risk model calculations, analytical tools, processes and documentation
• Conducts research and analysis to improve understanding and assessment of loan portfolios, models used, and forecast results
• Partners with Consumer lines of business, and front line Risk, Allowance, and Finance teams to ensure consistency and appropriateness of the team’s various processesOverview of the Role
As a Risk Analysis Specialist on the Consumer Risk team, your main responsibilities will include:
• Managing a portfolio of data intensive operational processes that span multiple complex technologies and infrastructures
• Building and running operational processes, across large complex multi-sourced data, often on a wide range of quantitative models using applications and coding based solutions
• Managing and monitoring controls across model execution and / or the sourcing and provisioning of complex data for multiple end-users
• Managing cycle-over-cycle executions and shaping the strategic direction of operations in a highly regulated environment
• Interacting with multiple stakeholders to drive consistent on-time delivery of well-considered and thorough solutions, often with short delivery times
• Leveraging technical skills to improve, enhance, and automate existing processes
• Providing regular updates to various stakeholders and senior leaders
Required Skills• Masters’ degree in a quantitative discipline
• 2+ years of experience in model development, model validation, statistical work, data analytics or quantitative research, or PhDAbility to manage and deliver:
• Cycle-over-cycle operational processes across data provisioning, model execution, and model performance monitoring
• Close collaboration with change agents driving operational excellence through strategic change
• Process execution while complying with various policies and regulations
• Code development and programming with tools such as Python, PySpark, SQL, Hadoop, Hive
• Additional experience with Unix/Linux, Shell Scripting, and SAS a plusStrong operations management skills and techniques, including:
• Proficiency in the management of the full project life cycle – from inception to full technical and process implementation
• Proficiency in operating in a business and technical environmentDemonstrated personal qualities including:
• Strong understanding of process controls and safeguards
• Confident self-starter
• Quick learner and intellectually curious
• Strong communication skills, both oral and written
• Strong team player, able to lead and follow
• Strong influencing skillsDesired Skills• Experience working for a financial institution; knowledge of retail banking products, services, processes, and systems
• Knowledge of model development / model implementation lifecycle
• Experience with data analytics / software development lifecycle tools (i.e. Alteryx, Tableau, Horizon / JIRA, etc.)
• Ability to deliver large scale projects involving changes to analytical processes, quantitative models, complex technology platforms, and analytical toolsKey Role Performance Measures• Anticipation – Aware of downstream and upstream processes, pre-empts issues, acts on the front foot
• Analysis – Understands results, has instinct for errors/anomalies, can contextualize easily
• Adoption – Agent for change, creates plans, inventive, tests well, measures twice cuts once
• Adaptiveness – Reacts well to variation or curve balls, has versatility and applies solutions appropriately, not only identifies / anticipates road blocks but knows how to solve for them
• Articulation – Clear structured thorough communication, able to tailor messaging for a varied audience, can express things in different ways, uses communication to influence and get buy-in
• Application – Delivers results, understands the objectives and executes flawlessly, requires little hand holding, is consistent in delivery
• Adjudication – Management skills, judges and measures performance well, spots / recruits talent, can train / nurture / develop talent
• Alliance – Works as a team internally and externally, forges trusted relationships, is respectful / empathetic / flexible to others, delivers together with collaboration
• Accountability – Can set success criteria, develop metrics/measurement techniques well, identify the need and build and operate to SLAs, always aware of "how we are doing"
• Authority – Commands respect through thought / articulation / delivery, is seen as a leader, can influence others and take them on a journey, resolves conflict without tension or contention
1st shift (United States of America)• 2+ years of experience in model development, model validation, statistical work, data analytics or quantitative research, or PhDAbility to manage and deliver:
• Cycle-over-cycle operational processes across data provisioning, model execution, and model performance monitoring
• Close collaboration with change agents driving operational excellence through strategic change
• Process execution while complying with various policies and regulations
• Code development and programming with tools such as Python, PySpark, SQL, Hadoop, Hive
• Additional experience with Unix/Linux, Shell Scripting, and SAS a plusStrong operations management skills and techniques, including:
• Proficiency in the management of the full project life cycle – from inception to full technical and process implementation
• Proficiency in operating in a business and technical environmentDemonstrated personal qualities including:
• Strong understanding of process controls and safeguards
• Confident self-starter
• Quick learner and intellectually curious
• Strong communication skills, both oral and written
• Strong team player, able to lead and follow
• Strong influencing skillsDesired Skills• Experience working for a financial institution; knowledge of retail banking products, services, processes, and systems
• Knowledge of model development / model implementation lifecycle
• Experience with data analytics / software development lifecycle tools (i.e. Alteryx, Tableau, Horizon / JIRA, etc.)
• Ability to deliver large scale projects involving changes to analytical processes, quantitative models, complex technology platforms, and analytical toolsKey Role Performance Measures• Anticipation – Aware of downstream and upstream processes, pre-empts issues, acts on the front foot
• Analysis – Understands results, has instinct for errors/anomalies, can contextualize easily
• Adoption – Agent for change, creates plans, inventive, tests well, measures twice cuts once
• Adaptiveness – Reacts well to variation or curve balls, has versatility and applies solutions appropriately, not only identifies / anticipates road blocks but knows how to solve for them
• Articulation – Clear structured thorough communication, able to tailor messaging for a varied audience, can express things in different ways, uses communication to influence and get buy-in
• Application – Delivers results, understands the objectives and executes flawlessly, requires little hand holding, is consistent in delivery
• Adjudication – Management skills, judges and measures performance well, spots / recruits talent, can train / nurture / develop talent
• Alliance – Works as a team internally and externally, forges trusted relationships, is respectful / empathetic / flexible to others, delivers together with collaboration
• Accountability – Can set success criteria, develop metrics/measurement techniques well, identify the need and build and operate to SLAs, always aware of "how we are doing"
• Authority – Commands respect through thought / articulation / delivery, is seen as a leader, can influence others and take them on a journey, resolves conflict without tension or contention
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