Senior Quantitative Risk Modeler & Analytics Lead

Bank of America Corporation; Newark (DE); On-site; USD 125,000 - 210,000; Full time

Job summary

Bank of America Corporation is seeking a senior quantitative analyst to lead end‑to‑end market risk stress testing, develop and validate models, and communicate results to senior management. The role requires strong expertise in AI/ML methods, traditional statistics, and rigorous documentation.

You will partner with risk, audit, and business teams to ensure governance, bias testing, and regulatory compliance across the model lifecycle. Location is Jersey City, NJ with in‑office expectations.

Qualifications

• Advanced quantitative degree with 7+ years of hands‑on model development or validation experience in fraud detection or related financial crime areas.
• A solid grasp of traditional statistical modeling techniques (i.e. Logistic regression) plus advanced AI/ML techniques (i.e. Gradient Boosting, Neural Networks, Random Forest, Transformer etc.)
• Expertise in model evaluation techniques such as rank ordering, ROC curve, confusion matrix, KS, cross-validation, feature importance, SHAP values etc.
• Proficiency in Python, SAS, R, LaTEX etc.
• Familiarity with regulatory requirements and guidelines related to risk model validation.
• Familiarity with bias/fairness testing for AI/ML models will be a plus.
• Excellent verbal communication and written documentation capabilities.
• Excellent analytical thinking, practical problem‑solving skills, and ability to work well with people at all levels.

Responsibilities

• Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyzes stress scenario results to better understand key drivers.
• Leads the planning related to setting quantitative work priorities in line with the bank’s overall strategy and prioritization.
• Identifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation.
• Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite.
• Leads and provides methodological, analytical, and technical guidance to effectively challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential risk.
• Works closely with model stakeholders and senior management with regard to communication of submission and validation outcomes.
• Performs statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches.
• Review and validate enterprise fraud prevention and detection models for conceptual soundness and quantitative rigor to ensure they follow sound modeling practices and Model Governance Policy, Guidelines, Testing Playbooks and Regulatory Requirements.
• Develop testing or alternative models by applying statistical or quantitative analysis, leveraging a variety of software programs, including R, SAS, Python, etc.
• Present model validation results in structured and comprehensive reports, including the Initial Assessment report (IAR), Model Validation Report (MVR), Required Action Item Assessment (RAI Assessment), and Ongoing Monitoring Report reviews (OMR Reviews) etc.
• Partner closely and manage interactions with business, model developers, risk and audit partners across the model lifecycle and validation processes.

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

Written Communications

Education

Master’s degree in related field

Tools

Python

SAS

R

LaTEX

Job description

Bank of America Corporation is seeking a senior quantitative analyst to lead end‑to‑end market risk stress testing, develop and validate models, and communicate results to senior management. The role requires strong expertise in AI/ML methods, traditional statistics, and rigorous documentation.

You will partner with risk, audit, and business teams to ensure governance, bias testing, and regulatory compliance across the model lifecycle. Location is Jersey City, NJ with in‑office expectations.