Sr. Quantitative Finance 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

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in‑office culture that supports collaboration, engagement, and career development. Our approach includes clear in‑office expectations, while providing an appropriate level of flexibility based on role‑specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in‑office culture that supports collaboration, engagement, and career development. Our approach includes clear in‑office expectations, while providing an appropriate level of flexibility based on role‑specific responsibilities and business needs. 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 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.

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.

Minimum Education Requirement

Master’s degree in related field or equivalent work experience

Required 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.

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