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Sr Quantitative Finance Analyst

Charlotte, North Carolina;

Job Description:

Overview of Global Risk Analytics
Bank of America Merrill Lynch has an opportunity for a Senior Quantitative Finance Analyst (B4) 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 Consumer Model Development
The Consumer Risk Modeling and Delivery (CRMD) team is part of Global Risk Analytics (GRA). It provides quantitative solutions to enable effective risk and capital management across the Retail and Global Wealth & Investments Management (GWIM) lines of business. The team places strong emphasis on delivering innovative, world class quantitative solutions designed to drive the business forward, by addressing critical business problems across the lending lifecycle including pricing, loss reserve, capital, stress testing and valuation for the Front Line Unit (FLU) model owners and stakeholders, through a disciplined and iterative development process. The team has responsibilities across a number of areas:
• Quantitative Modeling. Develop and maintain risk and capital Models and Model Systems across Retail and GWIM product lines. Models and Model Systems provide insight into many risk areas, including loan default, exposure at default (EAD), loss given default (LGD), delinquency, prepayment, balances, pricing, risk appetite, revenues and cash flows.
• Quantitative Development. Architect, implement, maintain, improve and integrate quantitative solutions on strategic GRA platforms. Outputs include GRA libraries that perform consumer risk model calculations, analytical tools, processes and documentation. Partner in defining, adopting, and executing GRA’s technical strategy.
• Risk and Capital Management Capabilities. Build best in class quantitative solutions that enable the Retail and GWIM lines of business to effectively manage risk and capital, through the application of the disciplined BAU development process that includes extensive interaction with the FLU model owners and stakeholders throughout the quantitative lifecycle.
• Infrastructure. Partner in driving forward the infrastructure to support the goals of GRA through code efficiencies, and expansion of quantitative capabilities to better leverage infrastructure and computational resources.
• Documentation. Deliver concise, quantitative documentation to inform stakeholders, meet policy requirements, and enable successful engagement in regulatory exams (e.g., CCAR, CECL) via automated, modularized, and standardized documentation and presentations.

Overview of the Role
The Senior Quantitative Finance Analyst will interact with a wide variety of stakeholders including risk managers, model developers, operations, technology, finance, and capital.
As a Senior Quantitative Finance Analyst within Consumer Risk Modeling and Delivery, the main responsibilities will involve:
• Software development: implement, maintain, improve and integrate quantitative solutions on strategic GRA platforms. Development takes place almost entirely in Python, with some C++ for high performance components.
• Maintain code quality through best practices, unit testing and code quality automation.
• Understand the whole product, its modules, and the interrelationship between them, while being an expert in the assigned component or module.
• Possess advanced domain knowledge and show great customer focus. Leverage skills in methodologies and build, release, and deployment processes.
• Partner in defining, adopting, and executing GRA’s technical strategy.
• Identify and apply new software development techniques to support enhanced granularity of risk management capabilities. Employ elevated intellectual curiosity and an acute sense of innovation.
• Elevated intellectual curiosity with acute sense of innovation to identify and apply new statistical and econometric techniques to support enhanced granularity of risk management capabilities
• Articulating the overall holistic picture of model performance, with clear conclusions regarding accuracy and remediation areas as required

Required Education, Skills, and Experience
• Strong Python software development skills
• Understanding of algorithms and data structures
• Experience with Linux operating system and command line tools
• Experience with version control systems, i.e., Git
• Knowledge of SQL
• Strong communication skills and ability to effectively communicate quantitative topics to technical and non-technical audiences
• Strong team player able to seamlessly transition between contributing individually and collaborating on team projects; Understands that individual actions may require input from manager or peers; Knows when to include others
• Experience implementing models into various production environments
• Demonstrated leadership skills; Ability to exert broad influence among peers
Strategic thinker that can understand complex business challenges and potential solutions
• Sees the broader picture and is able to identify new methods for doing things
Ability to work in a large, complex organization, and influence various stakeholders and partners
• Ability to work in a highly controlled and audited environment
• Masters degree in Math, Economics, Statistics, Engineering, Finance, Computer Science or similar discipline. PhD recommended.
• 5+ years professional experience


Desired Skills and Experience
• Strong C++ software development skills
• Experience with engineering complex, multifaceted processes that span across teams; Able to document process steps, inputs, outputs, requirements, identify gaps and improve workflow
• Consumer Financial Product Industry experience
• Experience with Spark
• Experience with high performance Python libraries, i.e., Numpy, Numba, Cython
• Experience with LaTeX
• Familiarity with SDLC tools: unit testing libraries, Jira, Jenkins

Job Band:

H4

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

2000

Job Description:

Overview of Global Risk Analytics
Bank of America Merrill Lynch has an opportunity for a Senior Quantitative Finance Analyst (B4) 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 Consumer Model Development
The Consumer Risk Modeling and Delivery (CRMD) team is part of Global Risk Analytics (GRA). It provides quantitative solutions to enable effective risk and capital management across the Retail and Global Wealth & Investments Management (GWIM) lines of business. The team places strong emphasis on delivering innovative, world class quantitative solutions designed to drive the business forward, by addressing critical business problems across the lending lifecycle including pricing, loss reserve, capital, stress testing and valuation for the Front Line Unit (FLU) model owners and stakeholders, through a disciplined and iterative development process. The team has responsibilities across a number of areas:
• Quantitative Modeling. Develop and maintain risk and capital Models and Model Systems across Retail and GWIM product lines. Models and Model Systems provide insight into many risk areas, including loan default, exposure at default (EAD), loss given default (LGD), delinquency, prepayment, balances, pricing, risk appetite, revenues and cash flows.
• Quantitative Development. Architect, implement, maintain, improve and integrate quantitative solutions on strategic GRA platforms. Outputs include GRA libraries that perform consumer risk model calculations, analytical tools, processes and documentation. Partner in defining, adopting, and executing GRA’s technical strategy.
• Risk and Capital Management Capabilities. Build best in class quantitative solutions that enable the Retail and GWIM lines of business to effectively manage risk and capital, through the application of the disciplined BAU development process that includes extensive interaction with the FLU model owners and stakeholders throughout the quantitative lifecycle.
• Infrastructure. Partner in driving forward the infrastructure to support the goals of GRA through code efficiencies, and expansion of quantitative capabilities to better leverage infrastructure and computational resources.
• Documentation. Deliver concise, quantitative documentation to inform stakeholders, meet policy requirements, and enable successful engagement in regulatory exams (e.g., CCAR, CECL) via automated, modularized, and standardized documentation and presentations.

Overview of the Role
The Senior Quantitative Finance Analyst will interact with a wide variety of stakeholders including risk managers, model developers, operations, technology, finance, and capital.
As a Senior Quantitative Finance Analyst within Consumer Risk Modeling and Delivery, the main responsibilities will involve:
• Software development: implement, maintain, improve and integrate quantitative solutions on strategic GRA platforms. Development takes place almost entirely in Python, with some C++ for high performance components.
• Maintain code quality through best practices, unit testing and code quality automation.
• Understand the whole product, its modules, and the interrelationship between them, while being an expert in the assigned component or module.
• Possess advanced domain knowledge and show great customer focus. Leverage skills in methodologies and build, release, and deployment processes.
• Partner in defining, adopting, and executing GRA’s technical strategy.
• Identify and apply new software development techniques to support enhanced granularity of risk management capabilities. Employ elevated intellectual curiosity and an acute sense of innovation.
• Elevated intellectual curiosity with acute sense of innovation to identify and apply new statistical and econometric techniques to support enhanced granularity of risk management capabilities
• Articulating the overall holistic picture of model performance, with clear conclusions regarding accuracy and remediation areas as required

Required Education, Skills, and Experience
• Strong Python software development skills
• Understanding of algorithms and data structures
• Experience with Linux operating system and command line tools
• Experience with version control systems, i.e., Git
• Knowledge of SQL
• Strong communication skills and ability to effectively communicate quantitative topics to technical and non-technical audiences
• Strong team player able to seamlessly transition between contributing individually and collaborating on team projects; Understands that individual actions may require input from manager or peers; Knows when to include others
• Experience implementing models into various production environments
• Demonstrated leadership skills; Ability to exert broad influence among peers
Strategic thinker that can understand complex business challenges and potential solutions
• Sees the broader picture and is able to identify new methods for doing things
Ability to work in a large, complex organization, and influence various stakeholders and partners
• Ability to work in a highly controlled and audited environment
• Masters degree in Math, Economics, Statistics, Engineering, Finance, Computer Science or similar discipline. PhD recommended.
• 5+ years professional experience


Desired Skills and Experience
• Strong C++ software development skills
• Experience with engineering complex, multifaceted processes that span across teams; Able to document process steps, inputs, outputs, requirements, identify gaps and improve workflow
• Consumer Financial Product Industry experience
• Experience with Spark
• Experience with high performance Python libraries, i.e., Numpy, Numba, Cython
• Experience with LaTeX
• Familiarity with SDLC tools: unit testing libraries, Jira, Jenkins

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-22035557

Band: H4

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Jillian Teeter

Referral Bonus:

2000