The Quantitative Finance and Analytics (QFA) team in Bank of America’s Global Banking and Markets (GBAM) Stress Testing team combines financial expertise, impactful analytics, and programming skills to quantify, summarize, and report revenue, expense, and balance sheet impacts for various economic scenarios across GBAM.
Members of the team investigate relationships between macro-economic variables and revenue streams to identify correlations that enable modeling of revenues streams. Additionally, programming and other analytical tools are used to drive model development, correlation analysis, performance testing and the automation of reporting. On a quarterly basis, all members of the QFA team run models, prepare summary results/materials, and present the results to Finance and Business partners for approval. Also, the QFA team discusses forecasts derived using complex, statistical models with both technical audiences, including statisticians and modelers, and non-technical audiences, and presents financial results in a non-technical manner to Heads of Business and Senior Management. In addition, the QFA team helps work through the model validation process and maintains process documentation, as required for internal governance or regulatory requirements.
The results are used in deliverables for the CCAR (Comprehensive Capital Analysis and Review), the Federal Reserve’s annual assessment of the capital adequacy for the largest most complex U.S. banks, and OCC’s equivalent DFAST requirement. Both mid-year and year-end reporting is required and is completed through the compilation of FR Y-14A reporting templates and supporting documentation. In addition, analysis around forecasts is provided to key stakeholders at a higher frequency, including additional scenario testing, performance analysis, and attribution.
This is an excellent opportunity for growth, as this team interacts across all of GBAM’s business units, including Lines of Business, Finance, Risk and other support partners. The Quantitative Finance Analyst will assist in stakeholder engagement, forecast methodology development, and technological/analytics enhancements across the forecasting space.
Master's degree or equivalent in Economics, Finance, or a related quantitative field, and 2-5 years of experience with technical or quantitative projects in the financial services industry.
Experience in each of the following is considered an asset:
Shift:1st shift (United States of America)
Hours Per Week:40
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