This job is responsible for conducting quantitative analytics and complex modeling projects for specific business units or risk types. Key responsibilities include leading the development of new models, analytic processes, or system approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.
Responsibilities:
Skills:
Master’s degree in related field or equivalent work experience
The role within the Model and Testing Standards Oversight (MTSO) team will support the development and oversight of processes, standards, and controls across the model lifecycle in which Global Risk Analytics (GRA) / Enterprise Independent Testing (EIT) models are executed. The team collaborates with different GRA model development groups to evolve best practices and with Model Risk Management to adapt to changes in Enterprise and Regulatory requirements and expectations.
• Development and oversight of model management processes and standards, including model development, performance monitoring, implementation, and usage.
• Perform critical analysis and assess feedback from model development groups on processes, controls, and metrics design/optimization across model lifecycle.
• Assess impact from changes to Enterprise and Regulatory requirements, lead implementation of changes to processes and provide ad-hoc consultancy and resolution of process enquiries.
• Support the development of corresponding workflow infrastructure / technology for model related processes.
• Project manage change initiatives, defining discrete actions, timelines, and tracking to completion.
• Enhancing ongoing monitoring and related risk management capabilities.
• Support model-related regulatory engagements and the compilation of regulatory materials.
• Participate in Quality Control routines across model lifecycle, analyze results and provide feedback, formulate actions and identify process improvements.
• Provide support on an ad-hoc basis to other non-model related horizontal MTSO team initiatives.
• Minimum 4 years’ experience in the financial services industry.
• Strong knowledge / experience in model risk management practices / related regulatory requirements.
• Degree in a relevant quantitative discipline.
• Good analytical and quantitative capabilities.
• Highly organized and able to execute multiple priorities.
• Strong oral and written communication skills.
• Ability to develop strong working relationships with teammates as well as senior management.
Overview of Global Risk Analytics and Enterprise Independent Testing
Global Risk Analytics (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. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. The team drives innovation, process improvement and automation across all of these activities.
Overview of Model and Testing Standards and Oversight
The Model and Testing Standards and Oversight (MTSO) team provides standards and oversight for Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) that ensure GRA and EIT operate effectively and efficiently, and output is delivered to a high standard and within a robust governance framework.
1st shift (United States of America)משרות נוספות שיכולות לעניין אותך