Senior Quantitative Finance Analyst

Bank of America; New York (NY); On-site; USD 125,000 - 210,000; Full time

Job summary

An established industry player is seeking a Senior Quantitative Financial Analyst specializing in Anti-Money Laundering. This role involves conducting independent testing and review of complex models to mitigate money laundering risks. The ideal candidate will leverage their expertise in statistical and machine learning methods to influence strategic directions and enhance modeling practices. With a strong emphasis on collaboration and communication, you will work closely with various teams and regulators, ensuring compliance and effectiveness in AML strategies. This position offers a unique opportunity to make a significant impact in a dynamic and supportive environment.

Benefits

Competitive benefits

Paid time off

Discretionary incentive plan

Qualifications

• 4+ years of experience in Anti-Money Laundering models and systems.
• Strong familiarity with industry practices and up-to-date AML techniques.

Responsibilities

• Perform independent model validation and conduct governance activities.
• Provide hands-on leadership for statistical modeling and machine learning projects.

Skills

Critical Thinking

Quantitative Development

Technical Documentation

Problem Solving

Data Modeling

Data and Trend Analysis

Process Performance Measurement

Research

Risk Analytics

Risk Modeling

Adaptability

Collaboration

Risk Management

Test Engineering

Written Communications

Education

PhD or Masters in a quantitative field

Tools

Python

SAS

SQL

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. 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. Join us!

Job Description:
This job is responsible for conducting quantitative analytics and complex modeling projects for specific business units or risk types. Key responsibilities include leading the development of new models, analytic processes, or system approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.

Enterprise Model Risk Management seeks a Sr Quantitative Fin Analyst – Anti-Money Laundering (AML) to conduct independent testing and review of complex models used to monitor and mitigate money laundering risk. The candidate should exhibit familiarity with industry practices and have knowledge of up-to-date AML techniques. The candidate should be able to provide both thought leadership and hands-on expertise in methodology, techniques, and processes in applying statistical and machine learning methods to manage the bank’s AML models and model systems.

The position will be responsible for:
Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.
Conducting governance activities such as model identification, model approval and breach remediation reviews.
Providing hands-on leadership for projects pertaining to statistical modeling and machine learning approaches to effectively challenge and influence the strategic direction and tactical approaches of these projects.
Communicating and working directly with relevant modeling teams and their corresponding Front Line Units; communicating and interacting with the third line of defense (e.g., internal audit) as well as external regulators, as needed.
Writing technical reports for distribution and presentation to model developers, senior management, audit and banking regulators.
Acts as a senior level resource or resident expert on analytic/quantitative modeling techniques used for Anti-money laundering.

Minimum Education Requirement: PhD or Masters in a quantitative field such as Mathematics, Physics, Finance, Economics, Engineering, Computer Science, Statistics.

Required Qualifications:

Knowledge and 4+ years of experience in building and understanding of Anti-Money Laundering models and systems.
Strong familiarity with industry practices in the field and knowledge of up-to-date Anti-Money Laundering techniques
CAMS certification (preferred)
Fluency in Python, SAS and SQL
Excellent written and oral communication skills with stakeholders of varying analytic skills and knowledge levels.

Skills:

Critical Thinking

Quantitative Development

Technical Documentation

Problem Solving

Data Modeling

Data and Trend Analysis

Process Performance Measurement

Research

Shift:

1st shift (United States 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. 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. Join us!

Job Description:
This job is responsible for conducting quantitative analytics and complex modeling projects for specific business units or risk types. Key responsibilities include leading the development of new models, analytic processes, or system approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.

Enterprise Model Risk Management seeks a Sr Quantitative Fin Analyst – Anti-Money Laundering (AML) to conduct independent testing and review of complex models used to monitor and mitigate money laundering risk. The candidate should exhibit familiarity with industry practices and have knowledge of up-to-date AML techniques. The candidate should be able to provide both thought leadership and hands-on expertise in methodology, techniques, and processes in applying statistical and machine learning methods to manage the bank’s AML models and model systems.

The position will be responsible for:
Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.
Conducting governance activities such as model identification, model approval and breach remediation reviews.
Providing hands-on leadership for projects pertaining to statistical modeling and machine learning approaches to effectively challenge and influence the strategic direction and tactical approaches of these projects.
Communicating and working directly with relevant modeling teams and their corresponding Front Line Units; communicating and interacting with the third line of defense (e.g., internal audit) as well as external regulators, as needed.
Writing technical reports for distribution and presentation to model developers, senior management, audit and banking regulators.
Acts as a senior level resource or resident expert on analytic/quantitative modeling techniques used for Anti-money laundering.

Minimum Education Requirement: PhD or Masters in a quantitative field such as Mathematics, Physics, Finance, Economics, Engineering, Computer Science, Statistics.

Required Qualifications:

Knowledge and 4+ years of experience in building and understanding of Anti-Money Laundering models and systems.
Strong familiarity with industry practices in the field and knowledge of up-to-date Anti-Money Laundering techniques
CAMS certification (preferred)
Fluency in Python, SAS and SQL
Excellent written and oral communication skills with stakeholders of varying analytic skills and knowledge levels.

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:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits informationPay range$125,000.00 - $210,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.

About the company

Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.