Bank Of America Quantitative Finance Analyst 

United States, North Carolina, Charlotte 

563465053

Job Description:

Job Description:
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.

The role is part of the Global Banking Model Risk Management team within Enterprise Model Risk Management. As part of second line of defense, the role has a unique opportunity to review a wide array of credit risk models used for stress testing and allowance, which encompasses loans and leases made to commercial borrowers of various industries and straddles multiple LOBs across the firm. In managing model risk in this space, the candidate will engage with various groups of internal stakeholders and external regulators, develop a deep understanding of the business, credit risk management, and apply analytical skills, finance theories and statistical analysis to real-world problems tied to critical business processes. To be successful in this role, the candidate will not only possess intellectual curiosity to stay abreast of leading modeling practice, but also display a genuine interest in tracking emerging risks and assessing their impact on the bank’s portfolio.

Responsibilities:

• Conduct thorough reviews and critical assessments of models, focusing on conceptual soundness, assumptions, data integrity, performance, implementation, and documentation.

• Develop and execute effective testing plans, benchmarks, and testing code to challenge models through empirical analyses and verify implementation accuracy.

• Engage in ongoing model review activities, including independent validation, ongoing monitoring report review, and addressing action items as necessary.

• Collaborate closely with Model Developers, Model Users, Credit Risk, and stakeholders to prioritize and complete validation activities, ensuring alignment with organizational objectives.

• Provide support to senior management by delivering key findings and assisting in interactions with external regulators.

• Write technical reports for distribution and presentation to various stakeholders, including model developers, senior management, audit, and regulatory authorities.

Master’s degree in related field or equivalent work experience

Required Qualifications:

• Master's/Ph.D. in Economics, Finance, Mathematics, Statistics, Engineering, Computer Science, or a related field.

• Minimum of 3 years of experience in statistics and econometrics (time series, regression modeling, etc.)

• Excellent coding ability in programming with Python, SAS or R.

• Experience working with large and complex data sets using Excel or SQL.

• Excellent communication and writing skills, with a keen attention to detail.

• Demonstrated ability to work effectively in a team environment with a strong work ethic.

Desired Qualifications:

• Experiences with commercial credit risk rating, capital estimation and loss forecasting

• Deep understanding and knowledge of model performance measures

• Extensive knowledge of banking regulations on credit risk, model risk and credit risk modeling methodologies.

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

1st shift (United States of America)