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Quantitative Finance Analyst-Global Banking and Markets Enterprise Stress Testing

Charlotte, North Carolina

Job Description:

Become a member of the Global Banking and Markets Enterprise Stress Testing team (GBAM EST), which is responsible for quantifying, summarizing and reporting revenue, expense and balance sheet impacts from various economic scenarios on the Global Banking and Markets business for submission to the FED, OCC and Senior Management. The role focuses on both forecast administration (methodology development, management, documentation, communication) and enhancements to forecasting platform and analytics.

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.

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 forecast administration (methodology development, management, documentation, communication) and enhancements to forecasting platform and analytics.

Education and Experience Requirement

Bachelor's degree or in Economics, Finance or a related quantitative field

3-5 years of experience with technical or quantitative projects in the financial services industry.

Special Requirements

Experience in each of the following is considered an asset:

  • Programming in R or Python, with a special focus on time series modeling to support running econometric models;
  • Master's degree or equivalent in Economics, Finance, or a related quantitative field
  • Developing scripts/code to automate reports and produce dynamic visual analytics;
  • Performing CCAR Stress Testing and utilizing methodologies to project revenue and balance sheet through models/qualitative approaches;
  • Using strong analytical, critical thinking and problem solving skills to lead or facilitate discussions across various levels of stakeholders/support partners to drive adoption of new technologies
  • Ability to manage multiple projects at the same team and influence decision-making across an array of stakeholders

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

No

Referral Bonus Amount:

0

Job Description:

Become a member of the Global Banking and Markets Enterprise Stress Testing team (GBAM EST), which is responsible for quantifying, summarizing and reporting revenue, expense and balance sheet impacts from various economic scenarios on the Global Banking and Markets business for submission to the FED, OCC and Senior Management. The role focuses on both forecast administration (methodology development, management, documentation, communication) and enhancements to forecasting platform and analytics.

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.

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 forecast administration (methodology development, management, documentation, communication) and enhancements to forecasting platform and analytics.

Education and Experience Requirement

Bachelor's degree or in Economics, Finance or a related quantitative field

3-5 years of experience with technical or quantitative projects in the financial services industry.

Special Requirements

Experience in each of the following is considered an asset:

  • Programming in R or Python, with a special focus on time series modeling to support running econometric models;
  • Master's degree or equivalent in Economics, Finance, or a related quantitative field
  • Developing scripts/code to automate reports and produce dynamic visual analytics;
  • Performing CCAR Stress Testing and utilizing methodologies to project revenue and balance sheet through models/qualitative approaches;
  • Using strong analytical, critical thinking and problem solving skills to lead or facilitate discussions across various levels of stakeholders/support partners to drive adoption of new technologies
  • Ability to manage multiple projects at the same team and influence decision-making across an array of stakeholders

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21059864

Band: H5

Manages People: No

Travel: Yes, 5% of the time

Manager:

Talent Acquisition Contact:

Jeannie Jones-Pickering

Referral Bonus:

2000

Street Address

Primary Location:
214 N TRYON ST, NC, Charlotte, 28255