Sr Quantitative Finance Analyst

Sr Quantitative Finance Analyst

Charlotte, North Carolina;Jersey City, New Jersey; New York, New York

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Global Banking Model Risk Management team is seeking a Sr. Quant Fin Analyst to conduct independent review and testing of complex models used for wholesale loss forecasting and allowance. As part of second line of defense, the role has a unique opportunity to review a wide array of credit risk models used for stress testing and allowance, which encompass loans and leases made to commercial borrowers across various industries and straddles multiple LOBs across the firm. In managing model risk in this space, the candidate will engage with various groups of internal stakeholders and external regulators, develop a deep understanding of the business, credit risk management, and apply analytical skills, finance theories and statistical analysis to real-world problems tied to critical business processes. To be successful in this role, the candidate will not only possess intellectual curiosity to stay abreast of leading modeling practice, but also display a genuine interest in tracking emerging risks and assessing their impact on the bank's portfolio.

Responsibilities:

• Conduct thorough review and critical assessment of models, focusing on conceptual soundness, assumptions, data integrity, performance, implementation, and documentation.

• Independently develop and execute effective testing plans, develop independent benchmarks, and testing code to challenge models through empirical analyses.

• Provide hands on leadership for various MRM activities such as independent model validation, ongoing monitoring report review, and review of required action items.

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

• Collaborate closely with Model Developers, Model Users, Credit Risk, and stakeholders to prioritize and complete validation activities, ensuring alignment with organizational objectives.

• Provide support to senior management by delivering key findings and assisting in interactions with external regulators.

• Mentor junior teammates; provide technical and thought leadership

• Write technical reports for distribution and presentation to various stakeholders, including model developers, senior management, audit, and regulatory authorities.

• Act as a senior level resource or resident expert on analytic/quantitative modeling techniques used for wholesale credit risk modeling.

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

Required Qualifications:

• Master's/Ph. D. in Economics, Finance, Mathematics, Statistics, Engineering, Computer Science, or a related field.

• Minimum of 4 years of experience in developing or validating wholesale credit risk models

• Excellent coding ability in programming with Python, SAS or R.

• Experience working with large and complex data sets using Excel or SQL.

• Excellent communication and writing skills, with a keen attention to detail.

• Demonstrated ability to work effectively in a team environment with a strong work ethic.

Desired Qualifications:

• Experience with commercial credit risk rating, capital estimation and loss forecasting

• Deep understanding and knowledge of model performance measures

• Extensive knowledge of banking regulations on credit risk, model risk and credit risk modeling methodologies.

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

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$125,000. 00 - $210,000. 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.

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.

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