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Sr Quantitative Finance Analyst

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!

Job Description: 
Enterprise Model Risk Management seeks a Sr Quantitative Fin Analyst – Anti-Money Laundering (AML) to conduct independent testing and review of complex models used to monitor and mitigate money laundering risk. The candidate should exhibit familiarity with industry practices and have knowledge of up-to-date AML techniques. The candidate should be able to provide both thought leadership and hands-on expertise in methodology, techniques, and processes for rule-based, statistical and machine learning AML models.  
 
The position will be responsible for: 

  • Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.  

  • Conducting governance activities such as model identification, model approval and breach remediation reviews. 

  • Providing hands-on leadership for projects pertaining to statistical modeling and machine learning approaches to effectively challenge and influence the strategic direction and tactical approaches of these projects. 

  • Communicating and working directly with relevant modeling teams and their corresponding Front Line Units; communicating and interacting with the third line of defense (e.g., internal audit) as well as external regulators, as needed. 

  • Writing technical reports for distribution and presentation to model developers, senior management, audit and banking regulators. 

  • Act as a senior level resource or resident expert on analytic/quantitative modeling techniques used for Anti-money laundering.

Minimum Education Requirement: Master’s degree in related field or equivalent work experience

Required Qualifications: 

  • PhD or Masters in a quantitative field such as Mathematics, Physics, Finance, Engineering, Computer Science, Statistics.  

  • 5+ years of experience in building and evaluating Anti-Money Laundering models and systems 

  • Strong familiarity with industry practices in the field and knowledge of up-to-date Anti Money Laundering techniques 

  • CAMS certification (preferred) 

  • Fluency in Python, SAS and SQL 

  • Excellent written and oral communication skills with stakeholders of varying analytic skill and knowledge levels. 

Skills:

  • Critical Thinking

  • Quantitative Development

  • Risk Analytics

  • Risk Modeling

  • Technical Documentation

  • Adaptability

  • Collaboration

  • Problem Solving

  • Risk Management

  • Test Engineering

  • Data Modeling

  • Data and Trend Analysis

  • Process Performance Measurement

  • Research

  • Written Communications

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-24022842

Manages People: No

Travel: Yes, 5% of the time

Jersey City pay and benefits information

Jersey City pay range:

$125,000 - $210,000 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.

New York pay and benefits information

New York pay range:

$125,000 - $210,000 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.