Bank of America’s Global Risk Analytics division in Jersey City is seeking a Quantitative Finance Analyst to drive quantitative analytics and modeling projects. The role focuses on crafting new models and analytic workflows, thoroughly documenting activities, and conveying findings to stakeholders across risk management, model development, model risk, senior leadership, and regulatory bodies. The position is onsite in Jersey City, NJ, with a salary range of USD 89,800 to 153,300 per year.
Responsibilities
- Perform in-depth analyses of risk model results using backtesting, benchmarking, and sensitivity analysis tools.
- Quantify the impact of model limitations on firm capital and name-level exposures.
- Aggregate analysis into a holistic view of model performance with clear conclusions on accuracy and remediation needs as required.
- Identify common themes across global markets and propose improvement initiatives.
- Present results to model stakeholders including risk management, model development, model risk, senior management, and regulators.
- Support model development by validating remediation of model issues before deployment.
- Lead ongoing enhancements to the model performance assessment toolkit across business areas.
Requirements
- Master's degree in a related quantitative field or equivalent work experience, with a preference for quantitative finance backgrounds.
- At least 2 years of relevant experience in areas such as Market Risk, Middle Office, or Counterparty Credit Risk.
- Broad knowledge of financial products.
- Strong data analysis capabilities with solid research and analytical skills.
- Proven programming skills in Python, C++, SQL, or other object-oriented languages.
- Effective written and spoken communication, strong interpersonal and organizational skills, and the ability to build relationships across areas and regions.
- Ability to multitask with excellent time management.
- Focused and rigorous approach to deliverables.
- Proactive mindset with initiative to take on responsibilities.
Technologies
Overview of the Team
The Global Markets Risk Analytics (GMRA) team within Global Risk Analytics develops, maintains, and monitors Counterparty Credit Risk (CCR), the Internal Model Method (IMM), Central Clearing Counterparties (CCP), Value at Risk (VaR), and Asset Liability Management (ALM). GMRA also builds analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.
Shift
1st shift (United States of America)
Hours per Week
40
Skills
- Strong 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
