Sr. Quantitative Finance Analyst - AML Model Validation

Bank of America; Jersey City (NJ); On-site; USD 80,000 - 140,000; Full time

Job summary

An established industry player seeks a Sr. Quantitative Finance Analyst specializing in Anti-Money Laundering model validation. In this pivotal role, you will lead model validation efforts, conduct governance activities, and provide strategic insights on statistical modeling and machine learning projects. You will collaborate with various stakeholders, including modeling teams and regulators, to ensure compliance and effectiveness of AML systems. This position offers a unique opportunity to make a significant impact while working in a diverse and inclusive environment that values growth and development. Join a forward-thinking organization committed to enhancing financial lives through innovation and teamwork.

Qualifications

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

Responsibilities

• Perform independent model validation and ongoing monitoring.
• Provide leadership for statistical modeling and machine learning projects.
• Communicate with modeling teams and regulators.

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

Education

PhD in a quantitative field

Masters in a quantitative field

Tools

Python

SAS

SQL

Job description

Sr. Quantitative Finance Analyst - AML Model Validation

Charlotte, North Carolina; Jersey City, New Jersey; New York, New York

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 Responsibilities:

1. Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.
2. Conducting governance activities such as model identification, model approval, and breach remediation reviews.
3. 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.
4. 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.
5. Writing technical reports for distribution and presentation to model developers, senior management, audit, and banking regulators.
6. Acting 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:

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

Skills:

1. Critical Thinking
2. Quantitative Development
3. Risk Analytics
4. Risk Modeling
5. Technical Documentation
6. Adaptability
7. Collaboration
8. Problem Solving
9. Risk Management
10. Test Engineering
11. Data Modeling
12. Data and Trend Analysis
13. Process Performance Measurement
14. Research
15. Written Communications

Shift: 1st shift (United States of America)

Hours Per Week: 40