1+ months

Sr Quantitative Fin Analyst

Charlotte, NC 28230
Sr Quantitative Fin Analyst



Atlanta, Georgia;Jersey City, New Jersey; Charlotte, North Carolina



**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.



Enterprise Model Risk Management seeks a senior quantitative finance analyst to conduct independent testing and review of complex consumer predictive models. The qualified candidate will be responsible for a broad range of model validation activities, including:

Review, critical assessment and challenge of models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation and documentation

Development and implementation of effective testing plans and testing code to critically challenge models through empirical analyses and to verify model implementation

Review and critical assessment of ongoing model monitoring activities

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

Coaching of junior staff members while leading validation projects



Required:



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

Background and experience with complex, loan-level predictive models and familiarity with retail products such as credit card

Expertise in cross-sectional and time-series econometrics, analyzing large datasets using mathematical models, and statistical techniques such as Least Squares Regression, Logistics Regression, Error Correcting Models (ECM), etc.

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

Deep understanding and knowledge of model performance measures

Extensive programming experience using Python, SAS, R, MATLAB, SQL

Strong knowledge of financial instruments and financial risk management principles

Minimum of 5 years of experience with a PhD or 8 years of experience with a Masters degree in financial risk modeling or validation

Familiarity with applicable regulatory guidance on model risk management



**Job Band:**



H4



**Shift:**



1st shift (United States of America)



**Hours Per Week:**



40



**Weekly Schedule:**



**Referral Bonus Amount:**



0



**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.



Enterprise Model Risk Management seeks a senior quantitative finance analyst to conduct independent testing and review of complex consumer predictive models. The qualified candidate will be responsible for a broad range of model validation activities, including:

Review, critical assessment and challenge of models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation and documentation

Development and implementation of effective testing plans and testing code to critically challenge models through empirical analyses and to verify model implementation

Review and critical assessment of ongoing model monitoring activities

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

Coaching of junior staff members while leading validation projects



Required:



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

Background and experience with complex, loan-level predictive models and familiarity with retail products such as credit card

Expertise in cross-sectional and time-series econometrics, analyzing large datasets using mathematical models, and statistical techniques such as Least Squares Regression, Logistics Regression, Error Correcting Models (ECM), etc.

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

Deep understanding and knowledge of model performance measures

Extensive programming experience using Python, SAS, R, MATLAB, SQL

Strong knowledge of financial instruments and financial risk management principles

Minimum of 5 years of experience with a PhD or 8 years of experience with a Masters degree in financial risk modeling or validation

Familiarity with applicable regulatory guidance on model risk management



**Shift:**



1st shift (United States of America)



**Hours Per Week:**



40



Learn more about this role



Full time



JR-22019678



Band: H4



Manages People: No



Travel: No



Manager:



Talent Acquisition Contact:



Taylor Pitre



Referral Bonus:



0



Jersey City pay and benefits information



**Jersey City pay range:**



$105,000 - $180,000

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, 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.



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 (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .


To view the "EEO is the Law" Supplement, CLICK HERE (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 .

Industry

  • Banking / Finance
Posted: 2022-07-12 Expires: 2022-09-05

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.


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Sr Quantitative Fin Analyst

Bank of America
Charlotte, NC 28230

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