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Quantitative Risk Data Analyst

Jersey City, New Jersey

Job Description:

Overview of Global Risk Analytics

Bank of America has an opportunity for a Quantitative Finance Analyst 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 GRA Strategy 

GRA Strategy is part of Global Risk Analytics (GRA). It is responsible for three primary bodies of work: strategic planning and delivery of major initiatives; program and project planning; and data management and model execution. 
Strategy and Major Initiatives are responsible for the planning and delivery of a coherent model risk management framework and infrastructure across GRA. These efforts include the development of one universal platform for seamless model development and implementation, and improvements to the quality and consistency of the data sourced for all development and production purposes. The team also provides forward-looking plans and solutions to ensure that GRA is addressing internal and regulatory requirements in a strategic, coordinated and pro-active manner. 


Programs and Projects provides project management oversight to key regulatory reviews such as the Current Expected Credit Losses (CECL) accounting standard and the Comprehensive Capital Analysis & Review (CCAR), as well as other strategic initiatives, including data, infrastructure and consumer model development. Additionally, the team ensures that technology roadmaps and data solutions align to Global Risk Management (GRM) strategies.


Overview of the Role: 

GRA is responsible for performing complex analysis and is engaged in the development of modeling that maximizes profits and asset growth and minimizes credit and operating losses and other risk exposures. GRA provides analytical support on various product strategies to ensure company goals are met. GRA also coordinates the production of performance reports for senior management reviews and analysis, reviews trends in current population distributions and recommends risk mitigation strategies. The successful candidate will participate in governance, retention and disposition of data sets used to develop complex program models, extract data and use databases to provide data inputs for statistical and financial modelling


Position Overview:

•    Support Product Executives in the implementation of a multi-year Data Strategy Program
•    Undertake data governance processes and manage data framework, including but not limited to Enterprise Data Management (EDM) standards adherence, managing centralized documentation library (EDM templates, DSA/SLA agreements, etc.) and partner with LOBs to maintain Data Lineage and Process Workflow documentation 
•    Undertake EDM submission process in partnership with LOBs, and run the current automated technology solutions for data lineage visualization (Quartz Lineage Viewer & DQC) 
•    Manage production of Data Quality Controls Dashboard, Management Reports (EDM Adherence and tracking), and ad-hoc reporting requests (audit, compliance, etc.) 
•    Execute on Authorized Data Source (ADS) Data Sourcing and Provisioning strategy, in alignment with Enterprise Data Management and Global Risk objectives

Required Education Skills & Experience:

  • Bachelors or Masters in relevant discipline.

  • Minimum 1 year relevant experience in data related Academic Research, Risk, Finance Technology, Compliance, or Audit 

  • Experience using data mining and other advanced analytical techniques to aggregate data for model development and/or to produce management reporting & data visualization

  • Programming experience with languages such as Python, SQL or R. 

  • Experience with Business Intelligence tools such as Alteryx and Tableau

  • Truly comfortable in a fast-paced and change-oriented environment 

  • Execution-oriented and results-focused self-starter able to work independently 

  • Strong organizational ability, project management skills, and extremely detail oriented 

  • Excellent written and oral communication skills at all levels (i.e. colleagues to senior management) and situations (i.e. one-on-one to presentations) 

  • Keen judgment balancing business strategy with rigorous risk management controls 

  • A pragmatic and flexible attitude towards problem solving, and a consultative working style 

  • Strong analytical mindset with attention to detail in work as well as the ability to remain calm and flexible in the face of increased demands, changing priorities and uncertain environment 

  • Possesses a strong commitment to excellence by anticipating needs, mitigating risks and minimizing potential problems. Good team player with positive can-do attitude

Desired Skills and Experience: 

  • Background in finance, compliance, or related field 

  • Experience with one or more of: Data Management, SOX, Data Quality Assurance Program compliance 

  • Breadth of experience across businesses serving people, companies and institutions 

  • Experience closely interacting with analytical and/or technology team

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 has an opportunity for a Quantitative Finance Analyst 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 GRA Strategy 

GRA Strategy is part of Global Risk Analytics (GRA). It is responsible for three primary bodies of work: strategic planning and delivery of major initiatives; program and project planning; and data management and model execution. 
Strategy and Major Initiatives are responsible for the planning and delivery of a coherent model risk management framework and infrastructure across GRA. These efforts include the development of one universal platform for seamless model development and implementation, and improvements to the quality and consistency of the data sourced for all development and production purposes. The team also provides forward-looking plans and solutions to ensure that GRA is addressing internal and regulatory requirements in a strategic, coordinated and pro-active manner. 


Programs and Projects provides project management oversight to key regulatory reviews such as the Current Expected Credit Losses (CECL) accounting standard and the Comprehensive Capital Analysis & Review (CCAR), as well as other strategic initiatives, including data, infrastructure and consumer model development. Additionally, the team ensures that technology roadmaps and data solutions align to Global Risk Management (GRM) strategies.


Overview of the Role: 

GRA is responsible for performing complex analysis and is engaged in the development of modeling that maximizes profits and asset growth and minimizes credit and operating losses and other risk exposures. GRA provides analytical support on various product strategies to ensure company goals are met. GRA also coordinates the production of performance reports for senior management reviews and analysis, reviews trends in current population distributions and recommends risk mitigation strategies. The successful candidate will participate in governance, retention and disposition of data sets used to develop complex program models, extract data and use databases to provide data inputs for statistical and financial modelling


Position Overview:

•    Support Product Executives in the implementation of a multi-year Data Strategy Program
•    Undertake data governance processes and manage data framework, including but not limited to Enterprise Data Management (EDM) standards adherence, managing centralized documentation library (EDM templates, DSA/SLA agreements, etc.) and partner with LOBs to maintain Data Lineage and Process Workflow documentation 
•    Undertake EDM submission process in partnership with LOBs, and run the current automated technology solutions for data lineage visualization (Quartz Lineage Viewer & DQC) 
•    Manage production of Data Quality Controls Dashboard, Management Reports (EDM Adherence and tracking), and ad-hoc reporting requests (audit, compliance, etc.) 
•    Execute on Authorized Data Source (ADS) Data Sourcing and Provisioning strategy, in alignment with Enterprise Data Management and Global Risk objectives

Required Education Skills & Experience:

  • Bachelors or Masters in relevant discipline.

  • Minimum 1 year relevant experience in data related Academic Research, Risk, Finance Technology, Compliance, or Audit 

  • Experience using data mining and other advanced analytical techniques to aggregate data for model development and/or to produce management reporting & data visualization

  • Programming experience with languages such as Python, SQL or R. 

  • Experience with Business Intelligence tools such as Alteryx and Tableau

  • Truly comfortable in a fast-paced and change-oriented environment 

  • Execution-oriented and results-focused self-starter able to work independently 

  • Strong organizational ability, project management skills, and extremely detail oriented 

  • Excellent written and oral communication skills at all levels (i.e. colleagues to senior management) and situations (i.e. one-on-one to presentations) 

  • Keen judgment balancing business strategy with rigorous risk management controls 

  • A pragmatic and flexible attitude towards problem solving, and a consultative working style 

  • Strong analytical mindset with attention to detail in work as well as the ability to remain calm and flexible in the face of increased demands, changing priorities and uncertain environment 

  • Possesses a strong commitment to excellence by anticipating needs, mitigating risks and minimizing potential problems. Good team player with positive can-do attitude

Desired Skills and Experience: 

  • Background in finance, compliance, or related field 

  • Experience with one or more of: Data Management, SOX, Data Quality Assurance Program compliance 

  • Breadth of experience across businesses serving people, companies and institutions 

  • Experience closely interacting with analytical and/or technology team

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22031855

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Pamela Salvato

Referral Bonus:

0

Street Address

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