Chicago, IL, 60684, USA
15 days ago
Senior Quantitative Finance Analyst
Senior Quantitative Finance Analyst Charlotte, North Carolina;Chicago, Illinois; Atlanta, Georgia; Phoenix, Arizona **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 Team:** Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing its activities, GRA and EIT drive innovation, process improvement and automation. EIT has established itself as the enterprise utility to test processes on behalf of Frontline Units and Control Functions across the firm with the goal of enabling more efficient and effective testing. The Test Automation Team within EIT is responsible for transforming the way testing is performed by driving a digital transformation and delivering effective and efficient automation. The team closely collaborates with stakeholders to understand the existing data and control landscape, prioritize testing needs and deliver effective test implementations to improve the firms risk management capabilities. The role will involve leading the development and enhancement of the next generation of tests to improve the bank’s risk management capability. This is a challenging and intellectually stimulating role driving a dynamic team to solve complex testing needs leveraging data across the Enterprise. **Overview of the Role:** We are looking for experienced technically minded problem solvers with proven leadership credentials with a desire to work across functional areas to drive the development of next generation tests as well as provide effective challenge to existing business processes and controls. • Provide leadership, technical acumen, and experience in the development of new tests. • Think outside the box of current industry standards to develop innovative approaches to testing of operational and compliance risk. • Pro-actively work with stakeholders across the company to collect requirements, understand business processes including the existing control landscape and determine how to appropriately design tests followed by test implementations to meet the requirements. • Provide insight and thought leadership into management of testing codebases including enforcement of appropriate review and challenge during development. • Promote the adoption of industry best practices for test development and execution. • Pro-actively work with stakeholders across the firm to identify opportunities to improve existing tests/processes and effectively communicate solutions. • Produce clear and coherent technical documentation for internal and regulatory purposes. • Ability to effectively govern tests and processes to ensure we meet the highest levels of regulatory expectation. • Take ownership to deliver results and meet critical deadlines. **Required Education:** • Graduate degree in highly technical discipline • Common areas of study include but are not limited to: Mathematics, Physics, Economics, Computer Science, Data Science, Operations Research **Required Skills:** • 5+ years of relevant work experience or equivalent educational training • Ability to solving complex problems and handle large data sets • Proven leadership abilities, working across organizational lines • Strong programming skills including SQL and Python • Deep understanding of appropriate software development lifecycle • Strong technical writing and clear verbal communication skills • Feels ownership and accountability for delivering high quality work, able to prioritize effectively, adapt, and able to work under pressure and deliver to tight deadlines • Ability to work independently, multitask and properly prioritize multiple projects • Curiosity and willingness to develop and work on new ways of testing • Capable of providing leadership to junior developers **Desired Skills:** • Experience building automation tooling that is optimized for working with large datasets • Experience working with structured and unstructured data in various storage solutions • Experience in operational and compliance risk related testing • Strong stakeholder engagement skills with ability to work with colleagues in other functions • 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 • Broad understanding of financial markets and product **General Job Description:** This job is responsible for conducting quantitative analytics and complex modeling projects for specific business units or risk types. Key responsibilities include leading the development of new models, analytic processes, or system approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans. **General 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 + Leads 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 + Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite + Leads and provides 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 **Shift:** 1st shift (United States of America) **Hours Per Week:** 40 Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates. To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) . To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) . View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) . Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment. To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE . This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
Confirm your E-mail: Send Email