Quantitative Finance Analyst

Bank of America Corporation

Jersey City (NJ)

In loco

USD 100.000 - 150.000

Tempo pieno

4 giorni fa

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Descrizione del lavoro

Bank of America Corporation is seeking a Quantitative Finance Analyst within Global Risk Analytics to develop quantitative risk models and analytics for market risk assessment and regulatory capital calculations.

You will partner with Capital, Risk, Technology and Model Risk Management, perform data analysis, and document methodologies while supporting model development, validation, and reporting in a fast-paced, global team. This role requires a Master’s degree and 2+ years’ experience.

Competenze

Advanced degree in quantitative fields and 2+ years of industry experience.
Programming skills in Python or equivalent OO language.
Experience in derivatives pricing and/or statistical analysis of financial data.

Mansioni

Develop quantitative risk models, analytics, and applications for market risk assessment and regulatory capital calculation.
Partner with Capital, Risk, Technology, Model Risk Management and Market Risk Management on model enhancement and validation.
Conduct analysis of market data, risk metrics, and P&L time series; document developmental evidence for internal/external exams.
Prepare and support remediation of model issues and communicate results to stakeholders.

Conoscenze

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

Formazione

Master’s degree in related field or equivalent work experience

Strumenti

Python

Descrizione del lavoro

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!

This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types. Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products.

Responsibilities:

Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyzes stress scenario results to better understand key drivers
Supports the planning related to setting quantitative work priorities in line with the bank’s overall strategy and prioritization
Identifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation
Supports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
Supports the methodological, analytical, and technical guidance to effectively challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential risk
Works closely with model stakeholders and senior management with regard to communication of submission and validation outcomes
Performs statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches

Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM). The GRA team provides quantitative capabilities supporting global risk management and capital management and develops a consistent set of risk and capital models and analytical tools that support decision making across the bank.

Overview of the Team

Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It is responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets. This role sits within Market Risk Analytics Quant group (MRQ), which covers analytics and tools for all general market and specific risk models and methodologies subject to trading and banking books capital rules across Market Risk. Additionally, you will have the opportunity to gain experience across all asset classes including interest rates, foreign exchanges, credit, equities, commodities, and mortgage products. This is an excellent opportunity to work in a fast growing, international team.

Overview of the Role

As a Quantitative Finance Analyst on Market Risk Analytics team, your responsibilities will involve:

Develop quantitative risk models, analytics, and applications in support of market risk assessment and regulatory capital calculation
Partner with internal groups including Capital, Risk, Technology, Model Risk Management and Market Risk Management on model enhancement, performance testing and documentation to remediate internal and external requirements
Conduct analysis and verification on market data, risk metrics and P&L time series
Prepare developmental evidence and document to support internal and external exams
Perform analysis for Value at Risk (VaR) / Risk not in VaR (RNiV) model development, documentations/submissions, and aid in addressing required action items raised by model risk management, issues from regulators, audit, and model performance tests
Perform statistical analysis on market historical data and model parameters
Develop and support benchmarking and backtesting. Identify, analyze, explain any overages
Identify common themes across global markets along with improvement initiatives
Communicate the results of this analysis to all model stakeholders including risk management, model development, model risk, senior management, and our regulators
Support model development in confirming remediation of model issues prior to their being taken live

Position Overview

Quantitative Finance Analyst - Responsible for independently conducting quantitative analytics and modeling projects and 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.

Minimum Education Requirement:

Master’s degree in related field or equivalent work experience

Required Education, Skills, and Experience:

Advanced degree in quantitative fields such as Mathematics, Financial Mathematics/Engineering, Quantitative Finance, Statistics, Econometrics, Physics, computer science, or equivalent and 2+ years of industry experience.
Programming skills, preferably in Python, or equivalent object-oriented programming
Experience in or willingness to learn derivatives pricing and/or statistical analysis of financial data, time series information.

Desired Skills and Experience:

Experience in market risk models such as FRTB Standard Approach (SA), FRTB Internal Model Approach (IMA), Value at Risk (VaR), Risks Not in VaR (RNiV), and Stress Testing.
Attention to details and ability to analyze problems independently with intellectual curiosity.
Strong written and verbal communications.
Ability to deliver quality outcomes in a timely manner in a fast-paced environment.

Skills: