1+ months

Quantitative Finance Analyst

Charlotte, NC 28230
**Job Description:**



At Bank of America, models are used for a broad range of activities, including but not limited to valuation, risk management, capital and liquidity planning, stress testing, underwriting and other strategic or day-to-day decision-making purposes. Bank of America recognizes the risk and uncertainty associated with the use of its models and the need to effectively manage this risk both at an individual level and in the aggregate.



The Model Risk Management (MRM) Team provides oversight for model risk across Bank of America's model inventory. The MRM Team independently validates and challenges newly-developed and existing models; is responsible for model risk assessments, limits and monitoring; communicates issues identified through validations to relevant businesses and governance and control functions; and escalates model use breaches and remediation plans to relevant governance committees.



Responsible for independently conducting quantitative analytics and modeling projects. Responsible for developing new models, analytic processes or systems approaches. Creates documentation for all activities and works with Technology staff in design of any system to run models developed. Incumbents possess excellent quantitative/analytic skills and a broad knowledge of financial markets and products.



**Job Description:**



Enterprise Model Risk Management seeks a Quantitative Analyst to conduct independent testing and review of models used for credit scoring and risk rating feeding regulatory and economic capital processes for wholesale credit. These are high profile modeling areas in the bank, with continual senior management and regulatory focus.



General responsibilities include:



Assessing conceptual foundations of a model, model specification, underlying assumptions, limitations, variable selection, underlying data, developmental evidence, documentation.

Challenging model assumptions and approach as needed.

Proposing and executing model validation tests.

Developing code to replicate results and conduct independent testing.

Verifying accuracy of model implementation.

Assessing quality of model outputs through back testing against realized outcomes, benchmarking against alternative models and other relevant tests.

Conducting ongoing model monitoring.

Writing thorough technical reports for distribution and presentation to senior management, model developers, and audit and bank regulators. Maintaining accurate records in the banks model risk management system



**Required skills:**



PhD or Master's degree in Statistics, Economics, Mathematics, Finance, Engineering, Physics, Computer Science / Machine Learning, or related field

Experience developing or validating models that rely on artificial intelligence and machine learning techniques

2-5 years relevant experience

Strong knowledge of financial instruments and financial risk management principles.

Deep understanding and knowledge of model performance measures.

Minimum 2 years of experience in financial risk modeling or validation.

Strong programming skills using Matlab, R and/or SAS.

Experience in risk management or quant group in a bank, financial institution or vendor.

Ability to communicate clearly and effectively.

Ability to produce high quality technical documentation.

Ability to problem solve



**Desired skills:**



PhD in a quantitative field

Experience in computational, engineering or scientific research or development roles.

Experience in wholesale credit

Experience with risk rating/risk scoring models



**Posting Date** : 07/02/2019



**Location** :

Atlanta, GA, Atlanta Plaza, 600 Peachtree St NE,

Charlotte, NC, ONE BANK OF AMERICA CENTER, 150 N COLLEGE ST,

- United States



**Travel** : No



**Full / Part-time** : Full time



**Hours Per Week** : 40



**Shift** : 1st shift



**Assistance for Applicants with Disabilities**



Bank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please visit the Applicants with Disabilities page at http://careers.bankofamerica.com/us/applicants-with-disabilities .



**Diversity & Inclusion**



At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.



**Frequently Asked Questions**



Need to know how to apply online, view a list of your submitted job applications or reset your password? Visit our FAQ at http://careers.bankofamerica.com/us/faq section for answers to these questions and more.

Industry

  • Banking / Finance
Posted: 2019-07-04 Expires: 2019-09-28

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Welcome to Careers at Bank of America.


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Quantitative Finance Analyst

Bank of America
Charlotte, NC 28230

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