Sr Quantitative Finance Analyst - Military Veterans

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description:
Global Banking Model Risk Management team is seeking a Sr. Quant Fin Analyst to conduct independent review and testing of complex models used for wholesale loss forecasting and allowance. 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 encompass loans and leases made to commercial borrowers across 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 review and critical assessment of models, focusing on conceptual soundness, assumptions, data integrity, performance, implementation, and documentation.
• Independently develop and execute effective testing plans, develop independent benchmarks, and testing code to challenge models through empirical analyses.
• Provide hands on leadership for various MRM activities such as independent model validation, ongoing monitoring report review, and review of required action items.
• Conducting governance activities such as model identification, model approval and breach remediation reviews.
• 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.
• Mentor junior teammates; provide technical and thought leadership
• Write technical reports for distribution and presentation to various stakeholders, including model developers, senior management, audit, and regulatory authorities.
• Act as a senior level resource or resident expert on analytic/quantitative modeling techniques used for wholesale credit risk modeling.

Minimum Education Requirement: 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 4 years of experience in developing or validating wholesale credit risk models
• 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:

• Experience 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

Shift:
1st shift (United States of America)

Hours Per Week:
40