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Quantitative Finance Analyst

Company: Bank of America
Location: Belmont
Posted on: February 25, 2021

Job Description:

Job Description:Overview of the TeamThe Consumer Risk Modeling and Delivery (CRMD) team is part of Global Risk Analytics (GRA). It provides quantitative solutions to enable effective risk and capital management across the Retail and Global Wealth & Investments Management (GWIM) lines of business.The team places strong emphasis on delivering innovative, world class quantitative solutions designed to drive the business forward, by addressing critical business problems across the lending lifecycle including pricing, loss reserve, capital, stress testing and valuation for the Front Line Unit (FLU) model owners and stakeholders, through a disciplined and iterative development process. The team has responsibilities across a number of areas:

  • Quantitative Modeling. Develop and maintain risk and capital Models and Model Systems across Retail and GWIM product lines. Models and Model Systems provide insight into many risk areas, including loan default, exposure at default (EAD), loss given default (LGD), delinquency, prepayment, balances, pricing, risk appetite, revenues and cash flows.
  • Quantitative Development. Architect, implement, maintain, improve and integrate quantitative solutions on strategic GRA platforms. Outputs include GRA libraries that perform consumer risk model calculations, analytical tools, processes and documentation. Partner in defining, adopting, and executing GRA's technical strategy.
  • Risk and Capital Management Capabilities. Build best in class quantitative solutions that enable the Retail and GWIM lines of business to effectively manage risk and capital, through the application of the disciplined BAU development process that includes extensive interaction with the FLU model owners and stakeholders throughout the quantitative lifecycle.
  • Infrastructure. Partner in driving forward the infrastructure to support the goals of GRA through code efficiencies, and expansion of quantitative capabilities to better leverage infrastructure and computational resources.
  • Documentation. Deliver concise, quantitative documentation to inform stakeholders, meet policy requirements, and enable successful engagement in regulatory exams (e.g., CCAR, CECL) via automated, modularized, and standardized documentation and presentations.Overview of the RoleThe Quantitative Finance Analyst will interact with a wide variety of stakeholders including risk managers, model developers, operations, technology, finance, and capital.As a Quantitative Finance Analyst within Consumer Risk Modeling and Delivery, the main responsibilities will involve:
    • Applying quantitative methods to develop new granular capabilities that meet risk management, line of business, and regulatory requirements
    • Articulating the overall holistic picture of model performance, with clear conclusions regarding accuracy and remediation areas as required
    • Identifying and applying new statistical and econometric techniques to support enhanced granularity of risk management capabilities via elevated intellectual curiosity with acute sense of innovation
    • Demonstrated ability to clearly articulate to senior stakeholders quantitative solutions that are designed to drive the business forward by addressing critical business problems
    • Communicating model results to model stakeholders, including risk management, model development, model risk, senior management, and regulators
    • Performing in-depth analysis on the Bank's risk model results using various quantitative tools such as back testing, benchmarking, sensitivity analysis
    • Supporting model development by confirming remediation of model issues prior to implementationRequired Education, Skills, and Experience
      • Technical writing and clear verbal communication and presentation skills
      • Present findings, data, and conclusions to influence senior leaders
      • Exemplary stakeholder and relationship management skills
      • Intellectually curious and naturally strategic in approach
      • Ability to tell a compelling story; Able to make recommendations and eloquently articulate conclusions
      • PhD preferred, Masters' Degree with a minimum 2 years' relevant experience.Desired Skills and Experience
        • Industry experience or relevant academic experience in Statistics, Financial Mathematics, Mathematics, Physics or Engineering (Masters/PhD preferred)
        • Experience with complex data architecture, including modeling and data science tools and libraries, data warehouses, and/or machine learningShift:1st shift (United States of America)Hours Per Week:--40 Posted 2 Days Ago Full time 21002456 About Us At Bank of America , we're creating real, meaningful relationships with individuals, businesses and communities to help them focus on what matters most. We serve approximately 66 million consumer and small business clients , using our skills and expertise to help make their lives better. We are committed to attracting and retaining top talent around the world to ensure we continue to deliver together for our customers, clients and communities. Along with taking care of our customers, we want to be a great place for people to work, and we strive to create an environment where all employees have the opportunity to achieve their goals. Partnering Locally
          Learn about some of the ways Bank of America is making a difference in the communities we serve. Global Impact
          Learn about the six areas that guide Bank of America's efforts to help make financial lives better for customers, clients, communities and our teammates. Diversity and Inclusion
          Each employee brings unique skills, background and opinions. We see diversity and inclusion as our platform for innovation and a key component in our success. Our Values
          Learn about our four values that represent what we believe.

Keywords: Bank of America, San Francisco , Quantitative Finance Analyst, Professions , Belmont, California

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