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Quantitative Financial Analyst

Charlotte, North Carolina;

Job Description:

Overview of Global Risk Analytics
Bank of America Merrill Lynch has an opportunity for a Quantitative Finance Analyst (B5) 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
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.


Overview of the Role
The Economic Scenario Generation team – part of the Global Risk organization – is seeking a quantitative developer to join the team. This team is responsible for the creation and delivery of macroeconomic scenarios for regulatory and stress testing purposes. The team develops and maintains a complex hierarchical system of models which broadly span rates, equities, fx, etc. The candidate will be expected to be a strong developer and possess deep understanding of time series, statistics. The team is currently undergoing a transformational shift from SAS to Python, which includes a full redesign and development of a shared modeling infrastructure.

Key Responsibilities:
• Assist with ongoing project for development and adoption of database for sourcing of macro-economic data
• Creates documentation for all activities and works with technology staff on database requirements and design and adoption
• Contribute to Python modeling framework
• Assist with adhoc economic research, model development, testing

Position Overview:
Responsible for independently conducting quantitative analytics and modelling projects and developing new models, analytic processes and systems approaches. This person will create documentation for all activities and works with Technology staff to design any system to run the models developed. Incumbents possess excellent quantitative/analytic skills and a broad knowledge of financial markets and products. As a Quantitative Finance Analyst your main responsibilities will involve:
• Development and maintenance of risk models or analytical tools.
• Organization and preparation of development documentation and supporting materials.
• Presentation to senior management and other key stakeholders.
• Cross functional support for model implementation, installation and ongoing monitoring.
• Ability to identify risks and issues proactively and frame the range of potential outcomes driving the business forward.
• Contribution to strategic direction via quantitative tools and solutions.
• Become a key contributor in a global organization of quantitative associates in support of world class risk management capabilities and culture.

Required/Desired:
• Master’s Degree or PhD in a quantitative discipline or STEM program.
• 2+ years of experience in delivering quantitative solutions (modeling, forecasting, etc.) or software tools supporting risk analytics business
• Programming skills and experience with languages such as Python, R, or other comparable languages.
• Strong software engineer with experience in developing high-performance and scalable analytical libraries and applications
• Facility with mathematics (linear algebra, probability and statistics, differential equations) and computer programming
• Ability to produce high quality documentation and presentation materials using Microsoft office.
• Strong written / verbal communication and interpersonal skills in order to work with cross-functional teams.
• Ability to present and consult with senior management and business stakeholders.
• Ability to multitask, prioritize, and work under pressure to meet deadlines.
• Experience with SQL and querying large relational databases (DB2, Teradata, Hadoop, Hive, etc.)

Desired Skills:
• Knowledge of statistical software SAS or statistical language R.
• Experience with large-scale distributed data and computing tools e.g. Spark, Hadoop, Hive etc.
• Strong software engineer with experience in developing high-performance and scalable analytical libraries and applications
• Knowledge of banking products and services.

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 (B5) 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
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.


Overview of the Role
The Economic Scenario Generation team – part of the Global Risk organization – is seeking a quantitative developer to join the team. This team is responsible for the creation and delivery of macroeconomic scenarios for regulatory and stress testing purposes. The team develops and maintains a complex hierarchical system of models which broadly span rates, equities, fx, etc. The candidate will be expected to be a strong developer and possess deep understanding of time series, statistics. The team is currently undergoing a transformational shift from SAS to Python, which includes a full redesign and development of a shared modeling infrastructure.

Key Responsibilities:
• Assist with ongoing project for development and adoption of database for sourcing of macro-economic data
• Creates documentation for all activities and works with technology staff on database requirements and design and adoption
• Contribute to Python modeling framework
• Assist with adhoc economic research, model development, testing

Position Overview:
Responsible for independently conducting quantitative analytics and modelling projects and developing new models, analytic processes and systems approaches. This person will create documentation for all activities and works with Technology staff to design any system to run the models developed. Incumbents possess excellent quantitative/analytic skills and a broad knowledge of financial markets and products. As a Quantitative Finance Analyst your main responsibilities will involve:
• Development and maintenance of risk models or analytical tools.
• Organization and preparation of development documentation and supporting materials.
• Presentation to senior management and other key stakeholders.
• Cross functional support for model implementation, installation and ongoing monitoring.
• Ability to identify risks and issues proactively and frame the range of potential outcomes driving the business forward.
• Contribution to strategic direction via quantitative tools and solutions.
• Become a key contributor in a global organization of quantitative associates in support of world class risk management capabilities and culture.

Required/Desired:
• Master’s Degree or PhD in a quantitative discipline or STEM program.
• 2+ years of experience in delivering quantitative solutions (modeling, forecasting, etc.) or software tools supporting risk analytics business
• Programming skills and experience with languages such as Python, R, or other comparable languages.
• Strong software engineer with experience in developing high-performance and scalable analytical libraries and applications
• Facility with mathematics (linear algebra, probability and statistics, differential equations) and computer programming
• Ability to produce high quality documentation and presentation materials using Microsoft office.
• Strong written / verbal communication and interpersonal skills in order to work with cross-functional teams.
• Ability to present and consult with senior management and business stakeholders.
• Ability to multitask, prioritize, and work under pressure to meet deadlines.
• Experience with SQL and querying large relational databases (DB2, Teradata, Hadoop, Hive, etc.)

Desired Skills:
• Knowledge of statistical software SAS or statistical language R.
• Experience with large-scale distributed data and computing tools e.g. Spark, Hadoop, Hive etc.
• Strong software engineer with experience in developing high-performance and scalable analytical libraries and applications
• Knowledge of banking products and services.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21066462

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jillian Teeter

Referral Bonus:

0