Quantitative Financial Analyst

Bank of America; New York (NY); On-site; USD 100,000 - 140,000; Full time

Job summary

A leading financial institution is seeking an AI Audit Manager responsible for conducting audits on AI risk management and governance. The role involves assessing controls across the AI model life cycle, requiring a Master's degree and strong analytical skills. The position offers the opportunity to influence strategic directions and enhance the model risk control environment.

Qualifications

• Master’s degree or equivalent experience required.
• Experience in auditing AI and model controls.
• Strong analytical skills and communication abilities.

Responsibilities

• Conduct audit assessments of AI governance and controls.
• Review model performance testing and validation processes.
• Document and report audit findings, providing management insight.

Skills

Critical Thinking

Quantitative Development

Technical Documentation

Problem Solving

Data Modeling

Data and Trend Analysis

Process Performance Measurement

Research

Education

Master’s degree in related field

Tools

Data Algorithm

Technology Risk Principles

Job description

New York, New York; Charlotte, North Carolina

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

Executive Report Writing

Technology Risk Principles

Skills:

Critical Thinking

Quantitative Development

Technical Documentation

Problem Solving

Data Modeling

Data and Trend Analysis

Process Performance Measurement

Research

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