Quantitative Finance Analyst

Bank of America; New York (NY); On-site; USD 90,000 - 155,000; Full time

Benefits offered by this job

Discretionary incentive eligible

Annual discretionary award

Benefits eligible

Job summary

Bank of America is seeking a CCR quantitative analyst in New York to conduct analysis for counterparty credit risk in the Global Markets business. You will support management of limit frameworks, monitor risk drivers, and generate reporting for internal stakeholders and regulators.

Responsibilities include stress testing, model evaluation, and collaboration with Credit Officers, Enterprise Credit Risk, and Sales & Trading to calibrate limits and approve trades.

Qualifications

• Solid knowledge of derivative products across asset classes (FX, rates, equity, commodities, credit).
• Knowledge of counterparty credit risk measurement techniques on derivatives and financing transactions.
• Excellent communication skills both written and verbal.
• Self-starter who excels in a fast paced environment.
• Strong computer skills.

Responsibilities

• Perform quantitative analysis for counterparty credit risk (CCR) in Global Markets.
• Manage CCR stress-based concentration limit frameworks across asset classes and industries.
• Lead CCR portfolio reviews and deep dives on counterparties.
• Develop risk analytics and secondary weakness measures to support client strategies.
• Represent CCR in regulatory exams and monitor model performance with GRA.

Skills

Derivative products

Counterparty risk measurement

Written and verbal communication

Self-starter

Strong computer skills

Education

Master’s degree or equivalent

Finance/Economics/Statistics degree

Job description

About Bank of America

Job Description: 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!

Job Description

This job is responsible for conducting quantitative analysis for counterparty credit risk (CCR) that arise in the Global Markets business. The role will support management of various counterparty limit frameworks (Stress Gap, Wrong Way Risk, Contingent Market Risk), monitoring secondary risk factors, point of weakness analysis of the CCR portfolios, and generating management reporting to internal stakeholders, governance and regulators. Manage counterparty stress-based concentration limit frameworks across asset classes, product types and industry sectors. Perform BAU CCR stress testing including scenario design, implementation and analyzing results to explain key drivers of risk exposures. Partner with the Credit Officers, Enterprise Credit Risk, FLU Sales & Trading on CCR limit calibration and new trade approvals to support the underwriting process. Lead sector specific CCR portfolio reviews along with specialized deep dives on individual counterparties. Develop and maintain risk analytics, secondary Points of Weakness measures to adequately support products and risks to client strategies, develop supplementary risk analysis based on material Risk ID. Collaborate with Market Risk coverage to apply consistent risk approach. Represent CCR in regulatory exams and ongoing monitoring, addressing regulatory findings, and presenting on special topics. Monitor CCR model performance and challenge GRA to enhance models.

Required Qualifications

• Solid understanding of derivative products with broad knowledge across asset classes (FX, rates, equity, commodities and credit)


• Knowledge of counterparty credit risk measurement techniques on derivatives and financing transactions


• Excellent communication skills both written and verbal


• Self-starter who excels in a fast paced environment


• Strong computer skills

Desired Qualifications

• Degree in finance/economics / statistics


• Prior experience in a risk manager role covering Global Markets products

Skills

• Critical Thinking


• Quantitative Development


• Risk Analytics


• Risk Modeling


• Technical Documentation


• AdaptabilityCollaboration


• Problem Solving


• Risk Management


• Test Engineering


• Data Modeling


• Data and Trend Analysis


• Process Performance Measurement


• Research


• Written Communications

Minimum Education Requirement

Master’s degree in related field or equivalent work experience

Shift

1st shift (United States of America)

Hours Per Week

40

Compensation

Pay range $89,800.00 - $155,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Pay Transparency Details

Pay Transparency details US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Benefits

• Discretionary incentive eligible


• 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.

Privacy Statement

https://careers.bankofamerica.com/en-us/privacy-notice

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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference.

Partnering Locally

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Global Impact

Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates.

Opportunity and Inclusion

Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success.

Our Values

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Pay Transparency

https://careers.bankofamerica.com/en-us/pay-transparency