1+ months

Quantitative Finance Analyst

Atlanta, GA 30309
Quantitative Finance Analyst

Charlotte, North Carolina;Atlanta, Georgia

**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


1st shift (United States of America)

**Hours Per Week:**


Full time


Manages People: No

Travel: No

Talent Acquisition Contact:

Referral Bonus:

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

To view the "EEO is the Law" poster, CLICK HERE at https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf .

To view the "EEO is the Law" Supplement, CLICK HERE at https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.pdf .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE .


  • Banking / Finance
Posted: 2019-07-04 Expires: 2020-02-05

Success begins with building relationships.

At Bank of America, our customers are at the center of everything we do. Our focus is on helping each one find the right financial solutions. With a wide range of career opportunities available, we invite you to realize your career goals with us while assisting customers with what matters most to them.

Welcome to Careers at Bank of America.

Sponsored by:
Farm Credit Services of America Logo
Sponsored by:
Bank of America Logo

Featured Jobs[ View All ]

Featured Employers

Before you go...

Our free job seeker tools include alerts for new jobs, saving your favorites, optimized job matching, and more! Just enter your email below.

Share this job:

Quantitative Finance Analyst

Bank of America
Atlanta, GA 30309

Join us to start saving your Favorite Jobs!

Sign In Create Account
Powered ByCareerCast