Senior Quantitative Risk & Model Validation Analyst

Bank of America; Jersey City (NJ); On-site; USD 120,000 - 180,000; Full time

Job summary

Bank of America in Jersey City, NJ is seeking a senior quantitative risk modeler responsible for conducting market risk stress testing, building new models, and guiding model development and validation across risk types.

You will present results, collaborate with stakeholders, ensure governance, and deliver technical reports while leveraging Python, SAS, and R to analyze large datasets and drive risk insights.

Qualifications

• Advanced quantitative degree with 7+ years of hands-on model development or validation experience.
• Strong grasp of traditional statistics plus AI/ML techniques.
• Expertise in model evaluation: ROC, KS, cross-validation, SHAP.
• Proficiency in Python, SAS, R, LaTeX.
• Familiarity with regulatory risk model guidelines.
• Excellent communication and analytical skills.

Responsibilities

• Performs end-to-end market risk stress testing including scenario design, implementation, consolidation, and reporting.
• Leads planning to align quantitative work priorities with bank strategy.
• Identifies improvements through reviews of model development or validation tasks and documentation.
• Maintains oversight of model development and risk management in focus areas.
• Guides development/validation projects and identifies risk areas.
• Communicates submission and validation outcomes with stakeholders and senior management.
• Performs statistical analysis on large datasets using qualitative and quantitative approaches.
• Reviews enterprise fraud prevention/detection models for soundness and governance.
• Develops tests or alternative models using R, SAS, Python, etc.
• Presents model validation results in IAR, MVR, RAI, OMR reports.
• Partners with business, model developers, risk and audit across the model lifecycle.

Skills

Market stress testing

Statistical modeling

Python

SAS

R

AI/ML techniques

Education

Master's degree

Tools

Python

SAS

R

LaTeX

Job description

Bank of America in Jersey City, NJ is seeking a senior quantitative risk modeler responsible for conducting market risk stress testing, building new models, and guiding model development and validation across risk types.

You will present results, collaborate with stakeholders, ensure governance, and deliver technical reports while leveraging Python, SAS, and R to analyze large datasets and drive risk insights.