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Senior Quantitative Finance Analyst

Newark, Delaware;

Job Description:

What would you like the power to do?
Bank of America’s Global Risk Analytics (GRA) organization has a high impact opportunity for a Senior Quantitative Financial Analyst within its Consumer Loss Forecasting (CLF) team.


The GRA group is a quantitative group which delivers models, tools, and analysis needed to effectively manage Risk and Capital. The CLF team provides insights via credit loss forecasts and related portfolio, model and forecast analytics on Bank of America’s nearly $500 billion consumer loan portfolio (including Mortgages, Credit Cards, and Auto loans). This position will primarily focus on the US Credit Card and Business Card portfolios and secondarily include the Auto portfolio.


This role plays a critical part in the Bank’s credit risk allowance, financial planning, stress testing, and risk management activities, primarily via the production of credit loss forecasts. Successful candidates will have demonstrated abilities which combine analytics, operational management, and communication to complete and enhance loss forecasting capabilities and ensure improved outcomes and increase stakeholder confidence. The Senior Quantitative Financial Analyst interacts with a wide variety of stakeholders including peer loss forecasters, model operations, model developers, allowance, finance, enterprise stress testing, risk and the front line business unit. The Analyst should be able to effectively communicate complex dynamics impacting the loss projection, including economic, modeling and consumer health assessments and trends.


Furthermore, the Analyst is responsible for assessing and improving associated operational process controls. In this capacity, the Analyst will also interact with governance partners including internal and external auditors and regulators.


Forecast Administration activities includes:
o Identifying needs and requirements for each submission cycle in partnership with Allowance, inclusive of economic scenarios and forecast attributions; this includes coordinating needed runs with model execution team and confirming that timelines in each of the forecast calendar will enable timely submission
o Assessing loss model historical back-testing to facilitate recommended forecast adjustments; this includes presenting rationale and obtaining consensus from stakeholders, and working with model development partners to address model limitations
o Creating executive-level forecast and analytics content; this includes creating commentary to effectively explain trends, analyze loss projections and portfolio quality, and ensure forecast reasonability
o Organizing across teams to ensure forecasting/analytics/modeling/control needs fulfillment
Process Control-based activities includes:
o Assists with internal and external related audits, including regulator exams, and associated process documentation and assessment
o Aides with tactical build-out of required management information that assesses each cycle’s controls to identify gaps and ensure flawless execution

Each of these responsibilities require strong written and verbal communication skills, influencing resources from within the team and on other teams, and the ability to identify core implications and connections within complex issues.

Required Skills:
- Experience in risk, credit, modeling, collections or financial operations with demonstrated examples of completing value add analytics, and/or assessing and improving business operational controls and communicating process insights to key stakeholders
- Track record of driving change and advancing the status quo across forecasting, analytics, automation of operations and control
- Strong business and financial acumen
- High attention to detail coupled with ability to simplify the complex
- Strategic thinker that can understand complex business processes and potential simplification and control-based improvements to mitigate process risk
- Demonstrated ability to organize and work collaboratively across multiple teams and functions
- Strong written/oral communication skills, with the ability to adjust to business partner, auditor and executive audiences, and ‘tell a story’ with data
- Flexibility to work both independently with little supervision and in a complex team environment
- Proficiency with analytical tools including Excel and Tableau

Desired Skills:
- Familiarity with risk modeling in a financial institution
- Familiarity with data science or consumer behavior analytics
- Master’s degree in financial, economic, data science or equivalent analytical discipline
- Prior direct experience with CECL/DFAST/CCAR process

Job Band:

H4

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

What would you like the power to do?
Bank of America’s Global Risk Analytics (GRA) organization has a high impact opportunity for a Senior Quantitative Financial Analyst within its Consumer Loss Forecasting (CLF) team.


The GRA group is a quantitative group which delivers models, tools, and analysis needed to effectively manage Risk and Capital. The CLF team provides insights via credit loss forecasts and related portfolio, model and forecast analytics on Bank of America’s nearly $500 billion consumer loan portfolio (including Mortgages, Credit Cards, and Auto loans). This position will primarily focus on the US Credit Card and Business Card portfolios and secondarily include the Auto portfolio.


This role plays a critical part in the Bank’s credit risk allowance, financial planning, stress testing, and risk management activities, primarily via the production of credit loss forecasts. Successful candidates will have demonstrated abilities which combine analytics, operational management, and communication to complete and enhance loss forecasting capabilities and ensure improved outcomes and increase stakeholder confidence. The Senior Quantitative Financial Analyst interacts with a wide variety of stakeholders including peer loss forecasters, model operations, model developers, allowance, finance, enterprise stress testing, risk and the front line business unit. The Analyst should be able to effectively communicate complex dynamics impacting the loss projection, including economic, modeling and consumer health assessments and trends.


Furthermore, the Analyst is responsible for assessing and improving associated operational process controls. In this capacity, the Analyst will also interact with governance partners including internal and external auditors and regulators.


Forecast Administration activities includes:
o Identifying needs and requirements for each submission cycle in partnership with Allowance, inclusive of economic scenarios and forecast attributions; this includes coordinating needed runs with model execution team and confirming that timelines in each of the forecast calendar will enable timely submission
o Assessing loss model historical back-testing to facilitate recommended forecast adjustments; this includes presenting rationale and obtaining consensus from stakeholders, and working with model development partners to address model limitations
o Creating executive-level forecast and analytics content; this includes creating commentary to effectively explain trends, analyze loss projections and portfolio quality, and ensure forecast reasonability
o Organizing across teams to ensure forecasting/analytics/modeling/control needs fulfillment
Process Control-based activities includes:
o Assists with internal and external related audits, including regulator exams, and associated process documentation and assessment
o Aides with tactical build-out of required management information that assesses each cycle’s controls to identify gaps and ensure flawless execution

Each of these responsibilities require strong written and verbal communication skills, influencing resources from within the team and on other teams, and the ability to identify core implications and connections within complex issues.

Required Skills:
- Experience in risk, credit, modeling, collections or financial operations with demonstrated examples of completing value add analytics, and/or assessing and improving business operational controls and communicating process insights to key stakeholders
- Track record of driving change and advancing the status quo across forecasting, analytics, automation of operations and control
- Strong business and financial acumen
- High attention to detail coupled with ability to simplify the complex
- Strategic thinker that can understand complex business processes and potential simplification and control-based improvements to mitigate process risk
- Demonstrated ability to organize and work collaboratively across multiple teams and functions
- Strong written/oral communication skills, with the ability to adjust to business partner, auditor and executive audiences, and ‘tell a story’ with data
- Flexibility to work both independently with little supervision and in a complex team environment
- Proficiency with analytical tools including Excel and Tableau

Desired Skills:
- Familiarity with risk modeling in a financial institution
- Familiarity with data science or consumer behavior analytics
- Master’s degree in financial, economic, data science or equivalent analytical discipline
- Prior direct experience with CECL/DFAST/CCAR process

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21065855

Band: H4

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jillian Teeter

Referral Bonus:

0