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Risk Analysis Specialist II

Jersey City, New Jersey;

Job Description:

Responsible for performing complex analysis and is engaged in the development of modeling that maximizes profits and asset growth and minimizes credit and operating losses and other risk exposures. Provides analytical support on various product strategies to ensure company goals are met. Coordinates the production of performance reports for Senior Management. Reviews and analyzes trends in current population distributions and recommends strategies. May participate in or develop complex program models to extract data and use databases to provide statistical and financial modelling.

Overview of Global Risk Analytics

Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist II 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 Model Performance team (MP), which is responsible for monitoring and assessing the performance of all risk models used across Global Markets – supporting risk management in understanding the drivers behind material risk metric movement, the impact of model limitations, and working with the model development team to enhance model accuracy and the overall performance of the analytics platform.

Overview of the Role

As a Risk Analysis Specialist II, your responsibilities will involve:
• Performing in-depth daily analysis into the bank’s counterparty credit risk (CCR) exposures and monitoring CCR exposure limits
• Identifying and explaining the key drivers of exposure levels and day on day movement
• Analysing portfolios at the global and legal entity levels
• Working directly with the Credit Risk Officers to assist them in using this analysis to make better limit utilization decisions – liaising also with sales and trading as appropriate
• Raising issues with upstream data providers where necessary, and quantifying impact
• Working with the wider CCR model performance team to identify and quantify model limitations resulting from exposure analysis
• Performing longer term trend analysis across our CCR portfolios to identify systemic themes
• Working with the wider GRA global markets model performance team to leverage insight into significant market movements and how these are driving exposures
• Assisting in the production of communication materials for senior management, governing committees and regulatory bodies.

Position Overview

QA004 - Risk Analysis Specialist II (B5)

Responsible for performing complex analysis and monitoring of data controls for counterparty credit risk to ensure risk is mitigated. Coordinates the production of performance reports for senior mgt. Reviews and analyzes trends in current population distributions and recommends strategies. May participate in or develop complex program models to extract data and use databases to provide statistical and financial modelling. Master's degree or large data experience preferred; Programming experience like SQL, SAS preferred and/or Micro Strategy experience preferred. Minimum of 5 years experience

Master's degree or large data experience preferred; Programming experience and relevant degree or large data experience required.

Required Education, Skills, and Experience

• Master degree and above (or equivalent), preferably in quantitative finance or a quantitative field
• Solid working experience (5 years +) in a related field (Market Risk, Middle Office, Counterparty Credit Risk)
• Broad financial product knowledge
• Experience in data analysis, with excellent research and analytical skills
• 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


Desired Skills and Experience
• Programming skills (Python, C++, SQL, or equivalent object-oriented programming) a plus
• Team lead experience a plus

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Responsible for performing complex analysis and is engaged in the development of modeling that maximizes profits and asset growth and minimizes credit and operating losses and other risk exposures. Provides analytical support on various product strategies to ensure company goals are met. Coordinates the production of performance reports for Senior Management. Reviews and analyzes trends in current population distributions and recommends strategies. May participate in or develop complex program models to extract data and use databases to provide statistical and financial modelling.

Overview of Global Risk Analytics

Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist II 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 Model Performance team (MP), which is responsible for monitoring and assessing the performance of all risk models used across Global Markets – supporting risk management in understanding the drivers behind material risk metric movement, the impact of model limitations, and working with the model development team to enhance model accuracy and the overall performance of the analytics platform.

Overview of the Role

As a Risk Analysis Specialist II, your responsibilities will involve:
• Performing in-depth daily analysis into the bank’s counterparty credit risk (CCR) exposures and monitoring CCR exposure limits
• Identifying and explaining the key drivers of exposure levels and day on day movement
• Analysing portfolios at the global and legal entity levels
• Working directly with the Credit Risk Officers to assist them in using this analysis to make better limit utilization decisions – liaising also with sales and trading as appropriate
• Raising issues with upstream data providers where necessary, and quantifying impact
• Working with the wider CCR model performance team to identify and quantify model limitations resulting from exposure analysis
• Performing longer term trend analysis across our CCR portfolios to identify systemic themes
• Working with the wider GRA global markets model performance team to leverage insight into significant market movements and how these are driving exposures
• Assisting in the production of communication materials for senior management, governing committees and regulatory bodies.

Position Overview

QA004 - Risk Analysis Specialist II (B5)

Responsible for performing complex analysis and monitoring of data controls for counterparty credit risk to ensure risk is mitigated. Coordinates the production of performance reports for senior mgt. Reviews and analyzes trends in current population distributions and recommends strategies. May participate in or develop complex program models to extract data and use databases to provide statistical and financial modelling. Master's degree or large data experience preferred; Programming experience like SQL, SAS preferred and/or Micro Strategy experience preferred. Minimum of 5 years experience

Master's degree or large data experience preferred; Programming experience and relevant degree or large data experience required.

Required Education, Skills, and Experience

• Master degree and above (or equivalent), preferably in quantitative finance or a quantitative field
• Solid working experience (5 years +) in a related field (Market Risk, Middle Office, Counterparty Credit Risk)
• Broad financial product knowledge
• Experience in data analysis, with excellent research and analytical skills
• 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


Desired Skills and Experience
• Programming skills (Python, C++, SQL, or equivalent object-oriented programming) a plus
• Team lead experience a plus

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21052446

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jillian Teeter

Referral Bonus:

0