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Bank Of America Quantitative Finance Analyst United States, North Carolina, Charlotte 597321604
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
Global Markets Risk Management serves as independent market risk oversight of the Firm’s trading activities. The Global Market Risk Stress Testing team within this organization is responsible for the implementation and management of critical enterprise processes and analysis to support the global markets business and senior risk management.
The team is seeking a highly motivated individual to support market risk stress testing, including regulatory mandated stress testing activities, formal and ad-hoc scenario analysis. The candidate in this role will have a wide range of responsibilities from evaluating new and emerging risks in the portfolio to ensuring that the Firm surpasses regulatory expectations. This work will require extensive engagement across risk functions and other partners across the Firm. The candidate will also be a key participant in regulatory exams related to stress testing and will become the subject matter expert on key aspects of market risk stress testing. This role will be expected to support the team’s success through an individual contributor role and will have no formal management responsibilities.
Primary Responsibilities include:
1. Ensure success of the Firm’s stress testing processes related to the Fundamental Review of the Trading Book (FRTB) requirements
2. Review and challenge scenario analysis results to determine the key drivers
3. Create presentations and documentation for stress testing activities
4. Engage with technology and data partners to improve the technology platforms used to manage the processes
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
Master’s degree in related field or equivalent work experience
Required Qualifications:
1. Incumbents typically have 5 - 10 years of experience in the financial industry, ideally with exposure to market risk concepts
2. Highly motivated individual who fully understands the demands of a market risk professional with ability to work in a fast-paced environment
3. Intellectually curious with the ability to investigate and develop root cause analysis for issues and propose corresponding process or technology changes
4. Effective time management skills, with the ability to manage multiple high priority deliverables simultaneously
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