Assistant Vice President / Quantitative Finance Analyst

Job Description:

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.  Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

RESPONSIBILITIES:

• Perform in‐depth analysis on the Bank’s Value at Risk (VaR) model employed for market risk covering backtesting, benchmarking, and sensitivity analysis.

• Assess Hypothetical P/L against VaR, periodic movements in VaR, treatments of risk factors and methodology.

• Execute and quantify the impact of model limitations both in terms of firm level capital and business level exposure.

• Pull together the overall holistic picture of model performance along with clear conclusions on overall accuracy and remediation areas as required and document continual ongoing monitoring reports.

• Drive incremental improvement to model performance assessment toolset across all business area.

• Automate existing processes and create new analytical capabilities.

• Assess structural features and risk factors of traded products and market movements by leveraging outputs from front office and risk models.

• Estimate impact of missing risks across asset classes by assessing simulation models and approach limitations.

• Develop Python-based frameworks to evaluate sensitivity and performance of risk models under different scenarios and support technology team in testing and optimization of data processing functions.

• Analyze large datasets by applying trend analysis, clustering techniques, and predictive modeling to isolate performance signals and identify remediation areas for backtesting.

REQUIREMENTS:

• Master's degree or equivalent in Finance, Mathematics, Statistics, Biostatistics or related; and

• 2 years of experience in the job offered or a related quantitative occupation.

• Must include 2 years of experience in each of the following:

• Assessing structural features and risk factors of traded products and market movements by leveraging outputs from front office and risk models;

• Estimating impact of missing risks across asset classes by assessing simulation models and approach limitations;

• Developing Python-based frameworks to evaluate sensitivity and performance of risk models under different scenarios and support technology team in testing and optimization of data processing functions; and,

• Analyzing large datasets by applying trend analysis, clustering techniques, and predictive modeling to isolate performance signals and identify remediation areas for backtesting.

If interested apply online at www.bankofamerica.com/careers or email your resume to bofajobs@bofa.com and reference the job title of the role and requisition number.

EMPLOYER:  Bank of America N.A.

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