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Industry Analyst

Charlotte, North Carolina;

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 Enterprise Risk Analytics

As a part of Global Risk Analytics (GRA), Enterprise Risk Analytics (ERA) is responsible for the development of cross-business holistic analytical models and tools. ERA consists of the following teams:

•    Economic Scenario Generation (ESG) provides consistent and granular scenario generation capabilities for economic and market variables that enable multiple “what-if” outcomes for government regulators and other business uses.
•    Enterprise Portfolio Analytics (EPA) provides portfolio surveillance visualization tools, utilizing advanced analytics (artificial intelligence/machine learning/natural language processing), to provide decision making support around the credit cycle, geo-intelligence, and thematic “what-if” analyses. EPA’s tools also support Enterprise strategic risk appetite and limits decisions for the bank’s risk and capital frameworks.
•    Concentration Risk provides capital estimates to support annual regulatory requirements and legal entity-level capital management using tools and techniques focused on identification, measurement, and mitigation of concentration risks across countries, regions, sectors, and industries.
•    Enterprise Capital Risk Analytics manages model performance monitoring and capital model issue resolution. 
•    Compliance Modelling & Analytics supports Enterprise needs around Fair Lending and Global Financial Crimes Compliance.
•    Central Quantitative Group (CQG) provides sophisticated quantitative solutions for ERA clients. The group often partners with other teams within and outside GRA to provide these solutions.

Industry-Level Forecasting Analyst
Seeking candidates for industry level forecasting of economic output and unemployment variables
This role combines the skill set of a research analyst and economist. This position involves working with large data sets, running macro models and forecasting macro economic variables. There will be interaction with senior economists and senior equity analysts. This job requires initiative and independent judgment to apply both quantitative and qualitative analysis.

Core responsibilities will include:
• Writing reports on industry-specific economic events and their impact on economic output and unemployment
• Working with Credit Analysts, Research Analysts, Economists and industry thought leaders to develop key industry themes
• Seeking out new, value-added, and/or unusual sources of information
• Leveraging robust internal bank data sets
• Identifying high frequency data sets to augment forecasts

Required Education, Skills, and Experience

• Masters' Degree in Economics or a related quantitative field with 2+ years of relative work experience
• Demonstrated knowledge of Econometrics
• Primary requirements are industry knowledge, superior quantitative skills and judgment in the field of research:
• The candidate must be able to thrive in a fast-paced and intense environment, be intellectually curious about drivers of the economy, industry & company performance and consumer behavior
• Strong economic and financial skills and a keen interest in markets, some experience in investment strategy is a plus
• Strong writing and spreadsheet skills
• Must be an expert in MS Excel, experience working with statistical packages and/or programming experience preferred
• Must have excellent communication skills, written and verbal
• Must have strong attention to detail, ability to multi-task
• Must work well in a collaborative team environment and be exceptionally driven
 

Desired Skills and Experience

•    Solid understanding of Macroeconomics, and experience with time series modelling techniques
•    Experience with core GRA Model Development Tools (BitBucket, Horizon, PyCharm, JIRA, GRADOC)
•    Broad experience in the design, implementation, and validation of risk models
•    Good understanding of current US regulatory environment, including but not limited to CECL and CCAR
 

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 Enterprise Risk Analytics

As a part of Global Risk Analytics (GRA), Enterprise Risk Analytics (ERA) is responsible for the development of cross-business holistic analytical models and tools. ERA consists of the following teams:

•    Economic Scenario Generation (ESG) provides consistent and granular scenario generation capabilities for economic and market variables that enable multiple “what-if” outcomes for government regulators and other business uses.
•    Enterprise Portfolio Analytics (EPA) provides portfolio surveillance visualization tools, utilizing advanced analytics (artificial intelligence/machine learning/natural language processing), to provide decision making support around the credit cycle, geo-intelligence, and thematic “what-if” analyses. EPA’s tools also support Enterprise strategic risk appetite and limits decisions for the bank’s risk and capital frameworks.
•    Concentration Risk provides capital estimates to support annual regulatory requirements and legal entity-level capital management using tools and techniques focused on identification, measurement, and mitigation of concentration risks across countries, regions, sectors, and industries.
•    Enterprise Capital Risk Analytics manages model performance monitoring and capital model issue resolution. 
•    Compliance Modelling & Analytics supports Enterprise needs around Fair Lending and Global Financial Crimes Compliance.
•    Central Quantitative Group (CQG) provides sophisticated quantitative solutions for ERA clients. The group often partners with other teams within and outside GRA to provide these solutions.

Industry-Level Forecasting Analyst
Seeking candidates for industry level forecasting of economic output and unemployment variables
This role combines the skill set of a research analyst and economist. This position involves working with large data sets, running macro models and forecasting macro economic variables. There will be interaction with senior economists and senior equity analysts. This job requires initiative and independent judgment to apply both quantitative and qualitative analysis.

Core responsibilities will include:
• Writing reports on industry-specific economic events and their impact on economic output and unemployment
• Working with Credit Analysts, Research Analysts, Economists and industry thought leaders to develop key industry themes
• Seeking out new, value-added, and/or unusual sources of information
• Leveraging robust internal bank data sets
• Identifying high frequency data sets to augment forecasts

Required Education, Skills, and Experience

• Masters' Degree in Economics or a related quantitative field with 2+ years of relative work experience
• Demonstrated knowledge of Econometrics
• Primary requirements are industry knowledge, superior quantitative skills and judgment in the field of research:
• The candidate must be able to thrive in a fast-paced and intense environment, be intellectually curious about drivers of the economy, industry & company performance and consumer behavior
• Strong economic and financial skills and a keen interest in markets, some experience in investment strategy is a plus
• Strong writing and spreadsheet skills
• Must be an expert in MS Excel, experience working with statistical packages and/or programming experience preferred
• Must have excellent communication skills, written and verbal
• Must have strong attention to detail, ability to multi-task
• Must work well in a collaborative team environment and be exceptionally driven
 

Desired Skills and Experience

•    Solid understanding of Macroeconomics, and experience with time series modelling techniques
•    Experience with core GRA Model Development Tools (BitBucket, Horizon, PyCharm, JIRA, GRADOC)
•    Broad experience in the design, implementation, and validation of risk models
•    Good understanding of current US regulatory environment, including but not limited to CECL and CCAR
 

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21048511

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jillian Teeter

Referral Bonus:

0