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Quantitative Finance Analyst

Jersey City, New Jersey

Job Description:

At Bank of America, models are used for a broad range of activities, including but not limited to valuation, risk management, capital and liquidity planning, stress testing, underwriting and other strategic or day-to-day decision-making purposes. Bank of America recognizes the risk and uncertainty associated with the use of its models and the need to effectively manage this risk both at an individual level and in the aggregate.

The Model Risk Management (MRM) Team provides oversight for model risk across Bank of America's model inventory.  The MRM Team independently validates and challenges newly-developed and existing models; is responsible for model risk assessments, limits and monitoring; communicates issues identified through validations to relevant businesses and governance and control functions; and escalates model use breaches and remediation plans to relevant governance committees.

Enterprise Model Risk Management seeks a Quantitative Finance Analyst who will be responsible for independently conducting quantitative analytics and complex modeling projects. The candidate will be engaged in review and validation of new and existing models, analytic processes or system approaches and creating documentation for all activities and may work with technology staff in use of any system to run models developed. Incumbents possess excellent quantitative/analytic and communication skills.

The qualified candidate will join a team of analysts in the Model Risk Management (MRM) group and will be responsible for the independent review and validation of all Mathematical/Statistical models used by different business units including, Balance Sheet Management (BSM) group, Global Banking and Markets (GBAM) mortgages and securitization desk, Corporate Treasury, CFO and other control functions etc.

The qualified candidate will work cross-functionally to enforce current model risk control procedures and apply his experience and skills to subject the models. The qualified candidate will also function as a subject matter expert to provide technical consultation to other analysts and to the MRM management for policy/procedure revisions/update.

The qualified candidate will join a group of highly skilled and experienced professionals bound by a strong commitment to high-quality work in a very collegial atmosphere.

Key requirements: 
• Strong and diversified quantitative skills 
• Working knowledge of the main asset classes available on the market(equities, fixed-income securities, options)
• Working knowledge of derivative financial instruments and the numerical methods used to price them
• Working knowledge of stochastic processes and stochastic calculus/integration
• Working knowledge of optimization techniques, regression techniques and Monte Carlo simulation
• Ability to understand and communicate clearly and effectively at all levels 
• Ability to learn and adapt in an unexplored field, if necessary 
• Team player attitude 

Required Skills: 
•    Masters/Ph.D.-level degree in Quantitative Finance 
•    Strong programming skills in python, C++/C#/Java and R/SAS 
•    Technical curiosity and interest in learning new skills 

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

At Bank of America, models are used for a broad range of activities, including but not limited to valuation, risk management, capital and liquidity planning, stress testing, underwriting and other strategic or day-to-day decision-making purposes. Bank of America recognizes the risk and uncertainty associated with the use of its models and the need to effectively manage this risk both at an individual level and in the aggregate.

The Model Risk Management (MRM) Team provides oversight for model risk across Bank of America's model inventory.  The MRM Team independently validates and challenges newly-developed and existing models; is responsible for model risk assessments, limits and monitoring; communicates issues identified through validations to relevant businesses and governance and control functions; and escalates model use breaches and remediation plans to relevant governance committees.

Enterprise Model Risk Management seeks a Quantitative Finance Analyst who will be responsible for independently conducting quantitative analytics and complex modeling projects. The candidate will be engaged in review and validation of new and existing models, analytic processes or system approaches and creating documentation for all activities and may work with technology staff in use of any system to run models developed. Incumbents possess excellent quantitative/analytic and communication skills.

The qualified candidate will join a team of analysts in the Model Risk Management (MRM) group and will be responsible for the independent review and validation of all Mathematical/Statistical models used by different business units including, Balance Sheet Management (BSM) group, Global Banking and Markets (GBAM) mortgages and securitization desk, Corporate Treasury, CFO and other control functions etc.

The qualified candidate will work cross-functionally to enforce current model risk control procedures and apply his experience and skills to subject the models. The qualified candidate will also function as a subject matter expert to provide technical consultation to other analysts and to the MRM management for policy/procedure revisions/update.

The qualified candidate will join a group of highly skilled and experienced professionals bound by a strong commitment to high-quality work in a very collegial atmosphere.

Key requirements: 
• Strong and diversified quantitative skills 
• Working knowledge of the main asset classes available on the market(equities, fixed-income securities, options)
• Working knowledge of derivative financial instruments and the numerical methods used to price them
• Working knowledge of stochastic processes and stochastic calculus/integration
• Working knowledge of optimization techniques, regression techniques and Monte Carlo simulation
• Ability to understand and communicate clearly and effectively at all levels 
• Ability to learn and adapt in an unexplored field, if necessary 
• Team player attitude 

Required Skills: 
•    Masters/Ph.D.-level degree in Quantitative Finance 
•    Strong programming skills in python, C++/C#/Java and R/SAS 
•    Technical curiosity and interest in learning new skills 

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21078875

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Taylor Pitre

Referral Bonus:

0

Street Address

Primary Location:
525 Washington Blvd, NJ, Jersey City, 07310