girl looking into her desktop
Back to search results

Quantative Finance Analyst

Jersey City, New Jersey

Job Description:

Overview of Global Risk Analytics

Bank of America Merrill Lynch has an opportunity for a Quantitative Finance Analyst within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM).  GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard.  GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks.  In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities. 


Overview of the Team

Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.

This role sits within the Counterparty Credit Risk Analytics Quant (CCRAQ) team that provides, maintains, and monitors models, data, and tools related to counterparty credit risk (CCR) of traded products, including models focused on both bilateral counterparty and central counterparty clearing (CCP) risk. CCRAQ supports the Credit Risk and Wholesale communities in understanding the risk drivers of material changes in model outputs.

Overview of the Role

As a Quantitative Finance Analyst your main responsibilities will involve:

  • Development, testing, documentation and maintenance of counterparty credit risk models: these will include risk factor simulation models, pricing models, aggregation models as well as back-testing methodology
  • Support of the counterparty credit risk platform, including investigation and resolution of model-related system issues and practical quantitative support to model users.
  • Improvements to model development infrastructure, such as test harnesses, support utilities, visualization tools
  • Partner with internal groups including Capital, Risk, Technology, Model Risk Management and Market Risk Management on model enhancement, performance testing and documentation to remediate internal and external requirements.
  • Work in quantitative modelling on fixed income and/or commodity products on behalf of a global financial institution
  • Prepare developmental evidence and document to support internal and external exams
  • Identifying common themes across global markets along with improvement initiatives
  • Communicating the results of this analysis to all model stakeholders including risk management, model development, model risk, senior management and our regulators
  • Supporting model development in confirming remediation of model issues prior to their being taken live
  • Driving incremental improvement to our model performance assessment tool set across all business areas

Required Education, Skills, and Experience

  • Master's degree or PhD required (preferably in Mathematics, Statistics, Physics or related field) and 3-6 years’ experience working in quantitative modelling in credit risk, CVA, model validation, or front office model development within a global financial institution
  • Experience with mathematically sophisticated financial modelling, preferably in counterparty credit risk or XVA
  • Ability to express technical concepts clearly in written and spoken English
  • Programming skills: key languages are C++ and Python; a solid understanding of sound software development principles
  • Up-to-date knowledge of industry trends and developments, a commercial instinct, and an understanding of sound risk management principles
  • Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions
  • Ability to multitask with excellent time management skills
  • Sense of focus and rigor in the completion of deliverables
  • Pro-active behavior with capacity to seize initiative

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Overview of Global Risk Analytics

Bank of America Merrill Lynch has an opportunity for a Quantitative Finance Analyst within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM).  GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard.  GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks.  In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities. 


Overview of the Team

Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.

This role sits within the Counterparty Credit Risk Analytics Quant (CCRAQ) team that provides, maintains, and monitors models, data, and tools related to counterparty credit risk (CCR) of traded products, including models focused on both bilateral counterparty and central counterparty clearing (CCP) risk. CCRAQ supports the Credit Risk and Wholesale communities in understanding the risk drivers of material changes in model outputs.

Overview of the Role

As a Quantitative Finance Analyst your main responsibilities will involve:

  • Development, testing, documentation and maintenance of counterparty credit risk models: these will include risk factor simulation models, pricing models, aggregation models as well as back-testing methodology
  • Support of the counterparty credit risk platform, including investigation and resolution of model-related system issues and practical quantitative support to model users.
  • Improvements to model development infrastructure, such as test harnesses, support utilities, visualization tools
  • Partner with internal groups including Capital, Risk, Technology, Model Risk Management and Market Risk Management on model enhancement, performance testing and documentation to remediate internal and external requirements.
  • Work in quantitative modelling on fixed income and/or commodity products on behalf of a global financial institution
  • Prepare developmental evidence and document to support internal and external exams
  • Identifying common themes across global markets along with improvement initiatives
  • Communicating the results of this analysis to all model stakeholders including risk management, model development, model risk, senior management and our regulators
  • Supporting model development in confirming remediation of model issues prior to their being taken live
  • Driving incremental improvement to our model performance assessment tool set across all business areas

Required Education, Skills, and Experience

  • Master's degree or PhD required (preferably in Mathematics, Statistics, Physics or related field) and 3-6 years’ experience working in quantitative modelling in credit risk, CVA, model validation, or front office model development within a global financial institution
  • Experience with mathematically sophisticated financial modelling, preferably in counterparty credit risk or XVA
  • Ability to express technical concepts clearly in written and spoken English
  • Programming skills: key languages are C++ and Python; a solid understanding of sound software development principles
  • Up-to-date knowledge of industry trends and developments, a commercial instinct, and an understanding of sound risk management principles
  • Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions
  • Ability to multitask with excellent time management skills
  • Sense of focus and rigor in the completion of deliverables
  • Pro-active behavior with capacity to seize initiative

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21039770

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jillian Teeter

Referral Bonus:

0

Street Address

Primary Location:
525 Washington Blvd, NJ, Jersey City, 07310