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:
This job is responsible for performing more complex analysis and modeling to minimize loss exposure and negative impacts to the customer experience. Key responsibilities include utilizing a variety of systems such as Excel, SAS, SQL, Tableau, and other relational data bases to provide analytical support on strategies, ensure goals are met, and propose policy and procedural changes within segmentation structures to produce optimal results. Job expectations include evaluating data to assess potential fraud risk and create mitigation strategies.
Responsibilities:
Fraud Prevention and Detection is looking for a model validation professional to join our team and help us combat financial crime.
In this role you will be responsible for:
- Developing advanced technical documentation for internally- and vendor-developed models
- Working closely with developers to understand how the model works and provide effective challenge to not only push back on methodology but also ensure results are accurate
- Partnering with technology and model users to schedule deployments and planning ahead for future model installations
- Working with independent model risk management, legal and compliance teams to ensure models are fully validated and approved for usage
- Producing analytics to ensure early model results look consistent with expectations
- Conducting regular model monitoring and sharing performance results and analytical insights with model stakeholders and users
- Supporting Bank policy for Artificial Intelligence models and ensuring any risks of using advanced techniques are identified and mitigated
- Tracking model changes after deployment and ensure appropriate documentation reflects any adjustments, patches or updates
- Driving model performance analytics above and beyond Model Risk Management policy requirements, including granular performance monitoring, early trend detection, root cause analysis, and gap analysis
Skills:
This position is not eligible for sponsorship.
It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.
Required qualifications:
• A minimum of 3 years of experience in model validation or development is required
• Must be proficient with SQL and SAS
• Excellent technical writing skills
• Critical problem solving abilities including selection of data and deployment of solutions
• Excellent communication and influencing skills
• Thrives in fast-paced and highly dynamic environment
• Intellectual curiosity and strong urge to figure out the “whys” of a problem and come up with creative solutions
Desired Qualifications:
- Advanced Quantitative degree (Masters or PhD)
- 5+ years of experience working in model validation. Experience in financial services (following SR-11-7 guidance is very desirable)
- Proficiency with Python and Tableau
Shift:
1st shift (United States of America)Hours Per Week:
40Learn more about this role
Full time
JR-24041990
Manages People: No
Travel: Yes, 10% of the time
Illinois pay range:
$79,700.00 - $118,900.00 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 range:
$79,700.00 - $118,900.00 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.
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