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Bank Of America Quantitative Finance Analyst United States, New Jersey, Jersey City 605353235
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
Working closely with the Risk Methodology, Line of Business Risk Managers and Technology teams, the candidate will provide support for the production of market risk and counterparty risk models. With a good working knowledge of market risk infrastructure, data flows and market risk and counterparty risk models, the candidate will be expected to play a significant role in the process design and risk system requirements, ensuring the completeness and accuracy of all market risk models.The candidate will liaise with Line of Business Risk Managers to provide quantitative risk implications of regulatory changes, new product development etc. and enhance market risk models to reflect changes in the business environment. The role requires a flexible approach that can deal with problems that require pragmatic solutions and innovative thinking.A good understanding of the key risk drivers at product, business and firm-wide levels is required. The ability to communicate to Line of Business Risk Managers potential risks is required.
Master’s degree in related field or equivalent work experience
Required Qualifications:
• Master’s Degree in a quantitative discipline is required.
• At least two year’s work experience in Finance with a strong preference for candidates with a Market Risk or Counterparty Risk background.
• A thorough understanding of Market Risk or Counterparty Risk models including Value at Risk, Stress Test models related economic capital regulations is required.
• A demonstrated track record in process execution, process control and process re-engineering in the market Market Risk or Counterparty Risk realms is required.
• A detailed understanding of the mathematical principles underlier these risk models and how these principles are implemented and controlled in large scale risk systems is highly desirable.
• A broad knowledge of equity and fixed income financial products including, FX, interest rate and credit products.
• Advanced desktop technology skills such as Excel and PowerPoint is a must.
• Experience in quantitative computer programming (VBA, SQL, Python) a plus.
• Excellent verbal and written communication skills, including well-developed presentation skills
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
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