• Job Description

  Req#: 24022109

  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!
  
  The Alternative Modeling Group Banking Book Team is responsible for developing new alternative models across the Wholesale and Consumer business for multiple product lines, as well as maintenance and upgrades to the existing portfolio. The team has a requirement for a highly-motivated Quantitative Finance Analyst to join the team to support the enhancements to existing models and the building of new innovative model in the Wholesale and Consumer segment. The right candidate will be required to contribute across the full spectrum of model development lifecycle tasks and will be important to the successful delivery of models in this space. In addition the right candidate will be needed to contribute more broadly to the regulatory driven suite of alternative models developed by the team across the Wholesale and Consumer business.
  
  • Required to pro-actively seek out effective statistical estimation techniques required to model credit risk across our mortgage business Wholesale and Consumer loss forecasting models
  • Pro-actively work with stakeholders across the mortgage business to collect requirements and then develop and build modelling solutions to meet them
  • Implement the model using well written and well governed python code
  • Produce clear and coherent technical documentation for internal and regulatory purposes
  • Promote the adoption of, and personally meet, GRA best practices for model development, implementation and monitoring
  • Critical to the role is to be able to think outside the box of current industry standards to develop innovative approaches to modelling problems

  Required Skills:
  
  • Highly numerical degree (Masters required; PhD level desirable) in Statistics, Financial Mathematics, Applied Mathematics, Economics, Physics or Engineering
  • 2+ years of experience in developing, documenting & maintaining risk and/or capital models and handling large datasets
  • Technical skills: Statistics, Probability Theory, Econometrics, Financial Mathematics
  • Strong programming skills; SQL, Python, VBA, Latex
  • Strong technical writing and clear verbal communication skills
  • Experience of, and ability to work under pressure and deliver to tight deadlines
  • Ability to work independently, multitask and properly prioritize work
  • Curiosity and willingness to develop and work on new ways of modelling
  
  Desired Skills:
  
  • Experiences in the areas of credit risk modelling, loss forecasting etc. preferred
  • Knowledge of regulatory guidelines including CCAR, DFAST, CECL, ICAAP.
  • Strong stakeholder engagement skills with an ability to work with colleagues in other functions (business, risk and model validation)
  • Organized, practical and execution focused with some project management experience
  • Self-motivated and intellectually curious about both the role, supporting technologies and the wider bank
  • Experience with LaTeX

  Shift:

  1st shift (United States of America)

  Hours Per Week:

  40

• About the company

  Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

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