Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

 

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.

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 driversSupports the planning related to setting quantitative work priorities in line with the bank’s overall strategy and prioritizationIdentifies 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/validationSupports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetiteSupports 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 riskWorks closely with model stakeholders and senior management with regard to communication of submission and validation outcomesPerforms statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches

Quantitative Finance Analysts in Global Risk are responsible for designing and overseeing the implementation of common, reusable, and scalable software components. These components enable GRM’s data and analytical capabilities. These components can be domain independent (e.g., generic data quality tools over billions of rows of data) or domain specific (e.g., classification models for surveillance or testing framework for Global Markets processes). Quantitative Finance Analysts work with senior modelers, risk managers, and technologists to understand the current state and design the future state of data and analytics. Quantitative Finance Analysts have a combination of software engineering, big data, modeling and management skills and the ability to work across the entire spectrum of a big data stack – from data to logic to model to UI to UX.

Seek opportunities for consistent improvement in quality, efficiency, and processesPartner effectively with senior stakeholders within GRA & EIT, Front Line Units, Technology, Audit and ComplianceProvide leadership and oversight to less experienced team membersApplying quantitative methods to develop capabilities that meet line of business, risk management and regulatory requirementsUnderstanding financial data: schemas, flow, size, data issues, data controls, etc. Building performant big data pipelines Use programming skills and knowledge of software development lifecycle principles to deliver high quality code for model and testing processesCollaborate with key stakeholders across the Bank to understand modeling and testing business processes and requirementsThink outside the box of current industry standards to develop innovative approaches Maintaining and continuously enhancing capabilities over time to respond to the changing nature of portfolios, economic conditions, and emerging risksSource and evaluate data required for modeling and testingDesign and develop and implement models and testsProduce clear, concise, and repeatable technical documentation models and tests for internal and regulatory purposes

Required Qualifications: 

5 +years of relevant experience in software engineering in Quantitative Finance or other industriesStrong Programming skills (e.g., Python) and solid understanding of Software Development Life cycle principlesProven track record of seamlessly leading and executing enterprise-wide initiativesThe candidate must be a strong communicator and able to effectively explain the rationale and details of the methodologies to a broad set of audiences that include key senior stakeholders across the Bank, as well as auditors and regulatorsStrong analytical and problem-solving skillsCandidates should have at least three of the following skills:Experience applying quantitative methods such as modelling, data analytics, machine learning, and statistics to develop business solutionsExperience with large scale data sets with structured or unstructured dataExperience in building user facing applications over large amounts of data using technologies like React, Angular, JavaScript etc.Experience implementing process improvements and automation 
 

Skills:

Critical ThinkingQuantitative DevelopmentRisk AnalyticsRisk ModelingTechnical DocumentationAdaptabilityCollaborationProblem SolvingRisk ManagementTest EngineeringData ModelingData and Trend AnalysisProcess Performance MeasurementResearchWritten Communications

Minimum Education Requirement: Master’s degree in related field or equivalent work experience

Shift:

1st shift (United States of America)

Hours Per Week: 

40