GMRA Analyst

Bank of America; Maharashtra; On-site; INR 1,800,000 - 3,000,000; Full time

Job summary

Bank of America in Mumbai seeks a highly skilled Risk Quant Analyst to support the SRPnL platform, VaR engine, and RNiV framework. You will apply derivatives pricing knowledge and quantitative methods to analyze risk across markets and instruments.

The role emphasizes collaboration with Risk, Quantitative Analytics, and Technology teams, performing validation, benchmarking, and automation to strengthen market risk infrastructure and reporting.

Qualifications

• Master's or Bachelor's in Finance, Math, Economics, Stats, Physics, Engineering.
• 5–8 years in Market Risk or quantitative analytics.
• Strong derivatives pricing and risk analytics knowledge.

Responsibilities

• Support SRPnL platform, VaR engine development.
• Perform monthly/quarterly RNiV calculations and validation.
• Develop Python-based risk analytics and automation.
• Collaborate with Risk, QA, and Technology teams.

Skills

Python

VaR

RNiV

Market Risk

SQL

Quantitative Analytics

Education

Quantitative degree (Finance/Math/Stats)

Tools

Quartz

Tableau

Zinc

SQL

Job description

About Us

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Job Description

About Us

At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

Being a Great Place to Work and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Global Business Services (GBS)

Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions through a centrally managed, globally integrated delivery model. GBS is recognized for operational excellence, innovation, resiliency, and robust risk management. In India, we operate as BA Continuum India Private Limited (BACI), supporting global business functions across multiple locations including Mumbai, GIFT City, Gurugram, and Hyderabad.

Process Overview

The team supports the firm's Market Risk organization through the production, analysis, and enhancement of Risk Not in VaR (RNiV) and VaR-related risk metrics. The team partners closely with Global Risk Market Analytics (GMRA), Global Markets Risk (GMR), Risk Technology, and Quantitative Analytics teams to source model inputs, perform quality controls, execute risk calculations, analyze results, and support ongoing enhancements to the market risk infrastructure.

Role Overview

We are seeking a highly motivated Risk Quant Analyst to support the future-state build of the SRPnL platform and VaR engine while contributing to the production and enhancement of the firm's RNiV framework.

The successful candidate will be responsible for supporting lower-lane testing, benchmark analysis, valuation investigations, production process improvements, and quantitative risk analytics. This role requires strong derivatives pricing knowledge, quantitative problem-solving skills, and the ability to analyze complex valuation and risk results across methodologies and platforms.

Key Responsibilities

VaR Engine & SRPnL Platform

• Support development and testing of the future-state SRPnL platform and VaR calculation framework.


• Perform lower-lane testing and validation of full revaluation methodologies under benchmarking scenarios.


• Analyze and investigate differences between Grid PnL and SFRC PnL outputs.


• Determine whether observed differences arise from valuation methodologies, model design, market data, or instrument-specific characteristics.


• Support optimization and stabilization of production batch processes and risk calculation workflows.


• Partner with stakeholders across Risk, Quantitative Analytics, and Technology teams to validate findings and implement improvements.

RNiV Production & Analytics

• Execute monthly and quarterly RNiV calculations across legal entities from data sourcing through result sign-off.


• Perform input quality controls and validation checks across risk factor and valuation datasets.


• Analyze risk-factor drivers and explain changes in RNiV and VaR results.


• Partner with Risk Managers to prepare change commentary and support market risk management activities.


• Conduct ad-hoc quantitative analysis to support management, regulatory, and business requests.


• Identify opportunities to improve methodologies, controls, automation, and analytical processes.

Risk Infrastructure & Automation

• Develop, enhance, debug, and maintain Python-based solutions supporting model execution and production processes.


• Create and maintain process documentation, testing evidence, methodology documentation, and operational procedures.


• Contribute to the broader enhancement of market risk analytics, infrastructure, and automation capabilities.

Requirement

Education

• Bachelor's or Master's degree in Finance, Mathematics, Economics, Statistics, Physics, Engineering, or a related quantitative discipline.

Experience Range

• 5-8 years of experience in Market Risk, Quantitative Analytics, Model Development, Valuation, Risk Technology, or related quantitative finance functions.

Foundational Skills

• Strong understanding of derivatives pricing, valuation methodologies, and risk analytics.


• Experience with VaR, RNiV, Market Risk Capital models, or related risk measurement frameworks.


• Strong analytical and quantitative problem-solving capabilities.


• Proficiency in Python for data analysis, automation, and quantitative investigations.


• Experience working with large datasets and performing complex data analysis.


• Working knowledge of:
  
  
  
  • Quartz
  
  
  • Market Risk Suite (MRS)
  
  
  • Zinc
  
  
  • Tableau
  
  
  • SQL
  
  
  
  


• Ability to investigate valuation and PnL differences across systems and methodologies.

Desired Skills

• Familiarity with full revaluation methodologies and VaR benchmarking frameworks.


• Understanding of market risk regulatory capital requirements and risk governance frameworks.


• Broad knowledge of financial products including rates, FX, credit, equity, and derivatives products.


• Experience working with cross-functional teams across Risk, Quantitative Analytics, and Technology.


• Strong written and verbal communication skills with ability to communicate complex analytical findings effectively.


• Experience identifying and implementing process automation and efficiency improvements.

Location: Mumbai