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 Description:
This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types. Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products.

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
• Supports 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
• Supports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
• Supports the 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

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

Minimum Education Requirement: Graduate degree (Masters or PhD) in quantitative discipline (e.g., Mathematics, Economics, Engineering, Finance, Physics, Computer Science)

Overview of Global Risk Analytics:

Bank of America has an opportunity for a Quantitative Finance Analyst within the Alternative Modelling Group & Quantitative Solutions (AMG-QS), a Global Risk Analytics (GRA) team. Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM). The GRA team provides quantitative capabilities supporting global risk management and capital management and develops a consistent set of risk and capital models and analytical tools that support decision making across the bank.

As part of GRA - Alternative Modelling Group & Quantitative Services (AMG-QS) builds alternative models, using innovative methods, which challenge and benchmark risk and capital champion models across the enterprise; and has a vision to challenge what is possible across Risk and Capital Modelling.

The Quantitative Solutions Group seeks to provide a broad range of innovative and operationally excellent solutions to GRA and GRA’s key partners technological issues; with a vision of exporting this capability into Risk and the Enterprise more broadly. The team’s objective is to change the way GRA, and its partners operate and to shift the expectation level on what we are able to do with computers in terms of performance and flexibility; and by doing so stretch the horizons of capabilities GRA can offer.

Overview of the Role:

The Quantitative Solutions group has a requirement for a highly motivated Quantitative Finance Analysts to support critical work across a broad portfolio of work, including implementation of high-profile models, developing statistical libraries, building new tools to support businesses such as Global Financial Crimes and Enterprise Independent Testing. The right candidate will be someone who likes to solve problems by writing code!

• Supporting the continued roll out of GRA's new core platform (GCP) to new users and enhancing the platform's core capabilities.
• Expanding and upgrading the statistical libraries used to ensure GRA models are developed consistently and in an operationally excellent way.
• Standardizing and optimizing processes across the Model Development, Execution and Testing Lifecycle.
• Developing and implementing High Performance Modelling across a number of GRA’s critical models to significantly enhance the efficiency and flexibility of GRA’s processes.
• Critical to the role is to be able to think outside the box of current industry standards to develop innovative approaches to quantitative technical challenges.
• Pro-actively work with stakeholders across multiple lines of business to collect requirements and then develop and build technical solutions to meet them.
• Implement solutions using well written and well governed python code.
• Make effective use of tools, applications, and hardware to maximize usefulness and efficiency of solutions.
• Promote the adoption of, and personally meet, GRA best practices for model development, implementation, and monitoring.

Required Education, Skills, and Experience:

• Graduate degree (Masters or PhD) in quantitative discipline (e.g., Mathematics, Economics, Engineering, Finance, Physics, Computer Science)
• 2+ years of experience in model development, statistical work, data analytics or quantitative research
• Strong Software development and Programming skills and experience with languages such as Python, SQL, or R
• Strong analytical and problem-solving skills
• Strong communication skills and ability to effectively communicate quantitative topics to technical and non-technical audiences
• Effectively presents findings, data, and conclusions to influence senior leaders
• Ability to work in a large, complex organization, and influence various stakeholders and partners
• Strong team player able to seamlessly transition between contributing individually and collaborating on team projects;

Desired Skills and Experience:

• Experience with complex data architecture, including modeling and data science tools and libraries, data warehouses, and machine learning.
• Experience with large-scale distributed data and computing tools e.g., Spark, Hadoop, Hive etc.
• Strong software engineer with experience in developing high-performance and scalable analytical libraries and applications.
• Knowledge of predictive modeling, statistical sampling, optimization, machine learning and artificial intelligence techniques.
• Ability to extract, analyze, and merge data from disparate systems, and perform deep analysis.
• Experience designing, developing, and applying scalable Machine Learning and Artificial Intelligence solutions.
• Experience with data analytics tools (e.g., Alteryx, Tableau).
• Experience with LaTeX.
• Sees the broader picture and can identify new methods for doing things.
• Broad understanding of financial markets and products.

Shift:

Hours Per Week: