Quantitative Financial Analyst

Bank of America; New York (NY); On-site; USD 85,000 - 130,000; Full time

Job summary

At Bank of America, join a dynamic team focused on conducting thorough audits of AI risk management. The role encompasses assessing governance frameworks, evaluating model performance, and providing strategic insights to improve controls. This position offers an opportunity to impact the company's approach to AI governance while fostering your career in a supportive workplace.

Benefits

Industry-leading benefits

Paid time off

Annual discretionary awards

Qualifications

• Master’s degree or equivalent work experience required.
• Experience in auditing AI risk models preferred.
• Strong analytical skills and technical expertise in risk management.

Responsibilities

• Conduct audit assessments for AI governance.
• Review model performance testing for conceptual soundness.
• Identify control deficiencies and opportunities for improvement.

Skills

Critical Thinking

Risk Analytics

Problem Solving

Data Analysis

Collaboration

Education

Master’s degree in related field

Tools

Data Algorithm

Technical Documentation

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 is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

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 auditing activities of Artificial Intelligence (AI) risk management across the company and for specific business units or control functions. Key responsibilities include conducting the audit assessment of effectiveness of controls supporting the AI model life cycle including AI risk assessment, AI and model governance, model development, validation, on-going monitoring, and model change management. Job expectations may include the ability to influence management’s strategic direction and actions to strengthen the model risk control environment.

Responsibilities:

• Conducts audit assessment of the company’s AI governance framework and routines

• Conducts audit assessment of effectiveness of controls supporting the use of AI models and application such as AI model life cycle including model governance, development, validation, on-going monitoring, and model change management.

• Performs review of model development analysis and on-going model performance testing to assess the conceptual soundness of the AI model methodology, reasonableness of the model assumptions and the completeness and accuracy of the model testing.

• Conducts review of the AI model validation analysis to assess the effectiveness of the model validation process. Assesses the completeness and reasonableness of the model assumptions, limitations and independent model testing.

• Provides insightful challenges to management, identifies control deficiencies or enhancement opportunities, conducts root cause investigation, documents and reports audit findings.

• Works closely with teammates from multiple internal audit teams to ensure a comprehensive coverage of model uses across the various lines of business of control functions.

• Works closely with model stakeholders and senior management with regard to communication of audit assessment outcomes.

Technical Skills:

• Data Algorithm

• Data Analysis, Interpretation & Decisioning

• Executive Report Writing

• Testing & Workpaper Documentation

• Model Risk Principles

• Technology Risk Principles

• Data Risk Principles

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

Pay Transparency details

US - NY - New York - 114 W 47TH ST (NY8114) Pay and benefits information Pay range $85,000.00 - $130,000.00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible This role is eligible to participate in the annual discretionary plan. 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.