Quantitative Finance Analyst

Bank of America; United States; On-site; USD 85,000 - 120,000; Full time

Job summary

Bank of America is seeking a candidate for a role focused on model development and quantitative analytics. You will support AML modeling with data analysis and conduct market risk stress testing.

The ideal candidate will have a Master’s degree and strong programming skills (R, Python, etc.). You will independently conduct projects and collaborate with teams to enhance model performance and risk measurement.

The position supports bank strategy and requires critical thinking combined with the ability to analyze large datasets.

Qualifications

• Minimum 2 years of experience in model development, statistical work, or data analytics.
• Create compelling stories using data, recommend conclusions supported by data.

Responsibilities

• Perform end‑to‑end market risk stress testing and analyze results.
• Independently conduct quantitative analytics and modeling projects.
• Provide guidance on modeling and validation projects.

Skills

Strong programming skills (R, Python, SAS, SQL)

Critical Thinking

Quantitative Development

Risk Analytics

Adaptability

Education

Master’s degree in a related field

Tools

Alteryx

Tableau

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 impacting 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!

Core Responsibilities

• Perform end‑to‑end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyze stress scenario results to better understand key drivers.
• Support the planning related to setting quantitative work priorities in line with the bank’s overall strategy and prioritization.
• Identify continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, provide critical feedback on technical documentation, and challenge model development/validation processes.
• Support model development and model risk management in respective focus areas to meet business requirements and the enterprise’s risk appetite.
• Provide methodological, analytical, and technical guidance to challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential risk.
• Work closely with model stakeholders and senior management on communication of submission and validation outcomes.
• Perform statistical analysis on large datasets and interpret results using both qualitative and quantitative approaches.

Overview of GRA/EIT

Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub‑lines of business within Global Risk Management (GRM). Collectively they develop a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. They partner with the lines of business and enterprise functions to address internal and regulatory requirements and respond to changing portfolios, economic conditions, and emerging risks.

Overview of Team

The Global Financial Crimes Modeling and Analytics (GFCMA) team develops and implements enterprise‑wide financial crime models, monitors performance, optimizes models, and conducts research using advanced analytical tools and systems.

Team Sub‑Teams

• US AML Modeling and Analytics – develop and maintain all US AML Feeder models to support AML risk coverage.
• Non‑US AML Modeling & Analytics – develop and maintain Non‑US AML Feeder models and automate suspicious activity monitoring.
• Case Generation Modeling & Analytics – develop the EP model that consolidates and risk‑ranks alerts from US and Non‑US AML detection models.
• Economic Sanction and Screening Modeling & Analytics – develop models that scan entities and transactions against sanctions watchlists and assist in KYC processes.

Ongoing Monitoring and Other Functions

Ongoing Monitoring Review, Management Information, Analysis, and Below‑the‑Line/Threshold (BTL/BTT) Testing provide periodic testing of financial crime models, generate Ongoing Monitoring Reports, assess environmental changes and model limitations, and create remediation plans. The team also manages investigations forecasting, BTL/BTT framework design, and program, regulatory, and business management functions.

Role Overview

• Support AML Modeling with ad‑hoc analytics, distribution analysis, and sensitivity analysis.
• Provide additional data analytics for drafting Business Requirement Documents.
• Lead analytical support for interim compensating control initiatives.
• Conduct and support below‑the‑threshold sampling.

Main Responsibilities

• Independently conduct quantitative analytics and modeling projects.
• Develop new models, analytic processes, or system approaches.
• Create documentation for all activities and collaborate with Technology staff on system design for running models.
• Perform end‑to‑end market risk stress testing and analyze results.
• Align quantitative work priorities with the bank’s strategy.
• Identify improvements through reviews of model development or validation decisions.
• Support model development and risk management within focus areas.
• Provide guidance to influence strategic direction and tactical approaches of development/validation projects.
• Communicate submission and validation outcomes with stakeholders and senior management.
• Analyze large datasets and interpret results qualitatively and quantitatively.

Minimum Education Requirement

Master’s degree in a related field or equivalent work experience.

Required Qualifications

• Create compelling stories using data, recommend and articulate conclusions supported by data.
• Strong programming skills (e.g., R, Python, SAS, SQL, or other languages).
• Minimum 2 years of experience in model development, statistical work, data analytics or quantitative research, or a PhD.

Desired Qualifications

• Experience with complex data architecture, including modeling and data science tools and libraries, data warehouses, and machine learning.
• Knowledge of predictive modeling, statistical sampling, optimization, machine learning and artificial intelligence techniques.
• Ability to extract, analyze, and merge data from disparate systems and perform deep analysis.
• Experience designing, developing, and applying scalable machine learning and artificial intelligence solutions.
• Experience with data analytics tools (e.g., Alteryx, Tableau).
• Demonstrated ability to drive action and sustain momentum to achieve results.
• Experience engineering complex, multifaceted processes that span across teams; document process steps, inputs, outputs, requirements, identify gaps, and improve workflow.
• Ability to see the broader picture and identify new methods for doing things.
• Experience with LaTeX.

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

Shift and Hours

Shift: 1st shift (United States of America)

Hours Per Week: 40