girl looking into her desktop
Back to search results

Sr Quantitative Finance Analyst

Jersey City, New Jersey;

Job Description:

Bank of America has an opportunity for a Senior Quantitative Analyst on the Wholesale Credit/Operational Risk Team within the Alternative Modelling Group & Quantitative Solutions (AMG-QS) of Global Risk Analytics (GRA).
Global Risk Analytics (GRA) is a sub line of business within Global Risk Management (GRM). The GRA team provides quantitative capabilities supporting global risk management and capital management and develops a consistent set of risk and capital models and analytical tools that drive the company’s technology infrastructure.


AMG-QS partners with other GRA teams to develop and deliver modeling solutions and analytical tools in order to address regulatory requirements; provides quantitative expertise for a broad range of modeling areas across the Enterprise; and builds and maintains the analytics infrastructure which supports GRA’s modeling library.


The role will involve the development and enhancement of next generation Wholesale loss forecasting models to improve risk management capability and support stress testing processes. This is a challenging and intellectually stimulating role in a dynamic team that is used to delivering in a timely manner to many different constituents of the bank.


Responsibilities

  • Drive the development of next generation Wholesale loss forecasting models, thinking outside of the box of current industry standards

  • Pro-actively work with stakeholders across the company to collect requirements and make sure most important aspects are covered in modelling

  • Ensure that next generation models are ready for enhanced climate risk requirements

  • Provide leadership in the development of new models, analytic processes or systems approaches

  • Promote the adoption of GRA best practices for model development, implementation and monitoring

  • Pro-actively work stakeholders across the firm to identify  opportunities to improve existing models/processes

  • Produce clear and coherent technical documentation for internal and regulatory purposes

  • Take ownership to deliver results and meet critical deadlines

Required Skills

  • Highly numerical degree (PhD level preferred, Masters required) in Statistics, Financial Mathematics, Applied Mathematics, Economics, Physics or Engineering

  • 5+ years of work experience in developing, documenting & maintaining credit risk models

  • Strong technical writing and clear verbal communication skills 

  • Experience of working under pressure and delivering to tight deadlines

  • Proven project leadership abilities, working across organizational lines

  • Ability to multitask and properly prioritize multiple projects

  • Curiosity and willingness to develop and work on new ways of modelling


Desired Skills

  • Experience with credit forecasting models or/and Wholesale Credit Business

  • Knowledge of regulatory guidelines and stress testing including CCAR, DFAST etc.

  • Capability to provide leadership to junior quantitative analysts

  • Strong stakeholder engagement skills with an ability to work with colleagues in other functions (business, risk and model validation)

  • Strong programming skills

  • Organized, practical and execution focused with project management experience

  • Self-motivated and intellectually curious about both the role, supporting technologies and the wider bank

Job Band:

H4

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

Bank of America has an opportunity for a Senior Quantitative Analyst on the Wholesale Credit/Operational Risk Team within the Alternative Modelling Group & Quantitative Solutions (AMG-QS) of Global Risk Analytics (GRA).
Global Risk Analytics (GRA) is a sub line of business within Global Risk Management (GRM). The GRA team provides quantitative capabilities supporting global risk management and capital management and develops a consistent set of risk and capital models and analytical tools that drive the company’s technology infrastructure.


AMG-QS partners with other GRA teams to develop and deliver modeling solutions and analytical tools in order to address regulatory requirements; provides quantitative expertise for a broad range of modeling areas across the Enterprise; and builds and maintains the analytics infrastructure which supports GRA’s modeling library.


The role will involve the development and enhancement of next generation Wholesale loss forecasting models to improve risk management capability and support stress testing processes. This is a challenging and intellectually stimulating role in a dynamic team that is used to delivering in a timely manner to many different constituents of the bank.


Responsibilities

  • Drive the development of next generation Wholesale loss forecasting models, thinking outside of the box of current industry standards

  • Pro-actively work with stakeholders across the company to collect requirements and make sure most important aspects are covered in modelling

  • Ensure that next generation models are ready for enhanced climate risk requirements

  • Provide leadership in the development of new models, analytic processes or systems approaches

  • Promote the adoption of GRA best practices for model development, implementation and monitoring

  • Pro-actively work stakeholders across the firm to identify  opportunities to improve existing models/processes

  • Produce clear and coherent technical documentation for internal and regulatory purposes

  • Take ownership to deliver results and meet critical deadlines

Required Skills

  • Highly numerical degree (PhD level preferred, Masters required) in Statistics, Financial Mathematics, Applied Mathematics, Economics, Physics or Engineering

  • 5+ years of work experience in developing, documenting & maintaining credit risk models

  • Strong technical writing and clear verbal communication skills 

  • Experience of working under pressure and delivering to tight deadlines

  • Proven project leadership abilities, working across organizational lines

  • Ability to multitask and properly prioritize multiple projects

  • Curiosity and willingness to develop and work on new ways of modelling


Desired Skills

  • Experience with credit forecasting models or/and Wholesale Credit Business

  • Knowledge of regulatory guidelines and stress testing including CCAR, DFAST etc.

  • Capability to provide leadership to junior quantitative analysts

  • Strong stakeholder engagement skills with an ability to work with colleagues in other functions (business, risk and model validation)

  • Strong programming skills

  • Organized, practical and execution focused with project management experience

  • Self-motivated and intellectually curious about both the role, supporting technologies and the wider bank

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21052447

Band: H4

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jillian Teeter

Referral Bonus:

0