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Risk Analysis Specialist I

Jersey City, New Jersey;

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!

Overview of Global Risk Analytics


Bank of America has an opportunity for a Risk Analysis Specialist I 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


Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets. The role sits within the Prime Clearing Analytics and Data Services (PCADS) -  Data Controls & Integrity (DCI) team, and is responsible for ensuring adequate controls and processes exist to validate the firm’s traded products activity for the purposes of Credit and Capital calculations. The team is also heavily involved in process re-engineering, automation, and the development of our target state risk repository.


Overview of the Role


We are seeking an experienced Python Software Developer with basic understanding of systems in counterparty credit risk management within major banking institutions. The ideal candidate will play an important role within our compact development team and must possess extensive experience in enterprise software development. The individual will be responsible for contributing to the PCADS projects across all phases of the Software Development Life Cycle (SDLC), including analysis, design, development, unit testing, QA, UAT, and tier-2 production support.

  • Design, development, and implementation of automated data integrity controls

  • Writing reusable, testable, and efficient Python code.

  • Work closely with lead developers to implement Python application architectures and designs.

  • Maintain existing applications to support operations.

  • Produce documents including design documents, and class diagrams.

  • Perform testing with technical peers and functional end users to ensure successful launch of development projects.

  • Support ad-hoc operational queries for DCI.

  • Promote quality engineering and good coding practices across the company.


Required Education, Skills, and Experience

  • BS in Computer Science, Financial Engineering, or a related field in (science, technology, engineering or mathematics)

  • The candidate should possess a robust background in Python and Object Oriented Programming

  • 2-5 years’ experience in the financial services industry (Large banks, brokers-dealers, hedge funds, or financial/data intermediary)

  • Basic proficiency in MS Office suite is critical

  • Excellent verbal and written communication skills

  • Candidate must be able to manage time sensitive issues, prioritize multiple processes and projects, and articulate thought process for decision-making

  • Experience with Data Incident Tracking tools such as JIRA/eDIM

  • The candidate must possess a personality that enables cooperative work with others

Desired Skills and Experience

  • Proven programming skills (Python, Tableau, SQL, and object-oriented programming)

  • Prior experience working in Quartz development in Bank of America in a developer role is a plus

  • Basic understanding of traded products in global markets, counterparty credit risk, collateral, netting, and exposures is beneficial

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-24017179

Manages People: No

Travel: No

Jersey City pay and benefits information

Jersey City pay range:

$93,000 - $118,400 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.