Quantitative Finance Analyst

Bank of America; Newark (DE); On-site; USD 100,000 - 190,000; Full time

Job summary

Bank of America is seeking a quantitative risk analytics professional to conduct end-to-end market risk stress tests, develop models, and provide documentation and analysis across risk types. The role partners with Technology and risk management to design systems for running models and delivering insights.

The ideal candidate will have a Master’s degree in a quantitative field, strong ML/statistical skills, and experience with Python, SQL, and data visualization tools.

Qualifications

• Master's degree or higher in a quantitative field.
• Strong STEM background with ML, NLP, and statistical modeling.
• Proficiency in Python, SQL, SAS, R, MATLAB; familiarity with C/C++.
• Experience with SQL and NoSQL databases; distributed computing.
• Knowledge of Tableau or Power BI for data visualization.
• Minimum of 2 years of relevant experience.
• Applied statistics, distributions, regression, etc.
• Strong business analysis and documentation skills.
• Excellent written and verbal communication.

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

Skills

Machine Learning

NLP

Deep Learning

Statistical Modeling

Quantitative Analysis

Forecasting

Data Visualization

Written and Verbal Communication

Education

Master's degree or higher in a quantitative field

Tools

Python

SQL

SAS

R

MATLAB

C/C++

NoSQL

Tableau

Power BI

Job description

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!

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), responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing its activities, GRA drives innovation, process improvement and automation.

Scenario and Enterprise Risk Analytics organization provide valuable insights into decision-making processes by decoding and quantifying risks to support our business strategy to achieve responsible and sustainable growth. Our vision is to serve as the go-to function to answer day-to-day risk management questions via state-of-the-art modeling and analytical tools. We want to add value and be relevant beyond regulatory and internal compliance

Responsibilities

• Development of wholesale credit risk models including loss forecasting, commercial scorecards, behavioral score, regulatory capital models.
• Executing in-depth analysis of wholesale credit performance and financial data.
• Preparing white papers for developed models.
• Interacting with internal model risk management, addressing potential concerns, and remediating model related findings.
• Supporting post implementation activities including ongoing monitoring review and interaction with various stakeholders.
• May be responsible for independently conducting quantitative analytics and complex modeling projects.
• Support efforts in development of new models, analytic processes, or system approaches.
• Creates documentation for all activities and may work with technology staff in design of any system to run models developed.
• Incumbents possess excellent quantitative/analytic skills.

Required Qualifications

• Master's degree or higher in Computer Science, Data Science, Statistics, Mathematics, Finance, or a related quantitative discipline.
• Experience & Skills
• Strong STEM background - Knowledge of Machine Learning, NLP, Deep Learning, Statistical Modeling, Quantitative Analysis, Forecasting, Data Visualization
• Proficiency in languages such as Python (scikit learn, pandas, numpy etc.), SQL, SAS, R & MATLAB, C/C++
• Prior experience with SQL. And NoSQL databases, distributed computing
• Knowledge of data visualization tools like Tableau, Power BI
• Minimum of 2 years of relevant experience
• Applied statistics skills, such as distributions, statistical testing, regression, etc.
• Strong business analysis and documentation skills, including requirements, process flows, and data lineage
• Ability to manage multiple and competing priorities
• Excellent written and verbal communication skills

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

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

Shift: 1st shift (United States of America)

Hours Per Week: 40