Bank Of America Sr Quantitative Finance Analyst 

United States, New Jersey, Jersey City 

580129978

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.

Counterparty Credit Risk Portfolio Management (CCRPM) team manages counterparty credit risk across the firm at both TOH and legal entity level, ensures compliance with regulatory requirements for Counterparty Credit Risk (CCR) Management and remediates regulatory requests around gaps identified in the CCR frameworks. The role will oversee managing various limits (Stress Gap, Contingent Market Risk), monitoring secondary risk factors, point of weakness analysis of the CCR portfolios, and reporting to internal stakeholders and regulators. The role entails measuring CCR for all lines of businesses in the Markets division covering all traded products (fixed income, currency, commodities, equities).

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

• Leads 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

• Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite

• Leads and provides 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

• Participate in constructing CCR portfolio reviews along with specialized deep dives on specific counterparties.

• Present analysis to senior management, including Market Risk, Enterprise Credit and Enterprise Credit, as well as Front Office Sales and Trading. In this capacity, the person will need to leverage their expertise in CCR and traded products to highlight areas that warrant additional investigation, monitoring and discussion. The analysis will encompass a range of counterparty exposure management techniques such as potential future exposure, stress testing, sensitivity analysis, wrong way risk. The person will assist in managing of counterparty concentration limits at the counterparty level across asset classes.

Bachelor’s degree in related field or equivalent work experience

Required Qualifications:

• Solid understanding of derivative products with broad knowledge across asset classes (FX, rates, equity, commodities and credit)

• Knowledge of counterparty risk measurement techniques on derivatives and financing transactionspreferred

• Strong computer skills (Office, VBA, Python, Bloomberg, SQL)

• Excellent communication skills both written and verbal

• Self-starter who excels in a fast paced environment

Desired Qualifications:

• Masters' Degree in finance/economics

• Prior experience in a risk manager role covering Global Markets products is a plus

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)