Bank Of America Sr Quantitative Financial Analyst United States, New York, New York 378796288
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Job Description:
Job Description:
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.
The Enterprise Model Risk Management (MRM) organization is responsible for providing oversight of model risk across Bank of America. MRM independently validates and challenges newly-developed and existing models; is responsible for model risk assessments, limits and monitoring; communicates issues identified through validations to relevant businesses and governance and control functions; escalates model use breaches and remediation plans to relevant governance committees; maintains a comprehensive inventory of models across all businesses and governance and control functions; and manages an attestation process to ensure compliance with the Enterprise Model Risk Policy. The MRM Market Risk team validates risk models for the Global Markets business, which includes models for FRTB, VaR, RNiV, IRC/CRM and stress testing.
Key Responsibilities:
Work in a team and collaborate with model developers and other validators to perform full scope and limited change validations.
Review the developer’s ongoing monitoring reports and their submissions to required action items.
Perform annual model reviews.
Participate a in EMEA regulatory projects like ICAAP and coordinate/drive activities on behalf of MRM
Act as the regional MRO delegate in MLI
Required Qualifications:
Advanced degree in a technical field such as mathematics, physics, statistics, financial mathematics, quantitative finance, computer science or engineering
10+ years' experience
Strong knowledge of financial, mathematical and statistical theories and practices
Strong programming skills, e.g., in Python
Strong written and oral communication
Strong plus: Experience with market risk models such as VaR, IRC/CRM or FRTB; knowledge of market risk regulations
Attention to detail, willingness to learn, strong work ethic, team player
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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