• Job Description

  Req#: 25030809

  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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
  
  Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
  
  At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
  

  Job Description:

  As a Quantitative Finance Analyst on the Enterprise Risk Analytics team, your main responsibilities will involve:

  • Responsible for independently conducting quantitative analytics and modeling projects.

  • Responsible for developing new models, analytic processes or systems approaches.

  • Creates documentation for all activities and works with Technology staff in design of any system to run models developed.

  • 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:

  • Master’s degree in related field or equivalent work experience

  Qualifications:

  • 2+ years of experience in model development, statistical work, data analytics or quantitative research, or PhD

  • Effectively creates a compelling story using data; Able to make recommendations and articulate conclusions supported by data

  • Strong Programming skills e.g. R, Python, SAS, SQL, R or other languages

  
  Desired Skills and Experience:

  • Experience with complex data architecture, including modeling and data science tools and libraries, data warehouses, and machine learning

  • 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)

  • Demonstrated ability to drive action and sustain momentum to achieve results

  • Experience with engineering complex, multifaceted processes that span across teams; Able to document process steps, inputs, outputs, requirements, identify gaps and improve workflow

  • Sees the broader picture and is able to identify new methods for doing things

  • Experience with LaTeX

  Shift:

  1st shift (United States of America)

  Hours Per Week:

  40

  Pay Transparency details

  US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540)

  Pay and benefits information

  Pay range

  $89,800.00 - $153,300.00 annualized salary, offers to be determined based on experience, education and skill set.

  Discretionary incentive eligible

  This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

  Benefits

  This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

• 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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