Quantitative Finance Analyst

Back to search results Quantitative Finance Analyst Jersey City, New Jersey; Charlotte, North Carolina Additional locations Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge Refer a friend Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge 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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits.We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. 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 driversSupports the planning related to setting quantitative work priorities in line with the bank's overall strategy and prioritizationIdentifies 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/validationSupports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetiteSupports 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 riskWorks closely with model stakeholders and senior management with regard to communication of submission and validation outcomesPerforms statistical analysis on large datasets and interprets results using both qualitative and quantitative approachesGlobal Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM). GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective Risk and Capital measurement, management and reporting across Bank of America. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. The team drives innovation, process improvement and automation across all of these activities.The AMG Team is responsible for developing and managing models across multiple domains, including Global Financial Crimes. The team has a requirement for a highly-motivated Quantitative Finance Analyst to join us to support the enhancements to existing models initially within the GFC domain, and subsequently supporting one of the numerous other areas we support (Consumer, Wholesale, Finance, Markets, Capital, Physical Climate Risk). 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 and champion models developed by the team.Required to pro-actively seek out effective statistical estimation techniques required to model risk across the businesses supportedPro-actively work with stakeholders across the business(es) to collect requirements and then develop and build modelling solutions to meet themImplement the model using well written and well governed python codeProduce clear and coherent technical documentation for internal and regulatory purposesPromote the adoption of, and personally meet, GRA best practices for model development, implementation and monitoringCritical to the role is to be able to think outside the box of current industry standards to develop innovative approaches to modelling problemsRequired Skills:Highly numerical degree (Masters required; PhD level desirable) in Statistics, Financial Mathematics, Applied Mathematics, Economics, Physics or EngineeringSome experience in developing, documenting & maintaining risk and/or capital models and handling large datasetsTechnical skills: Statistics, Probability Theory, Econometrics, Financial MathematicsStrong programming skills; SQL, Python, VBA, LatexStrong technical writing and clear verbal communication skillsExperience of, and ability to work under pressure and deliver to tight deadlinesAbility to work independently, multitask and properly prioritize workCuriosity and willingness to develop and work on new ways of modellingDesired Skills:Experiences in the areas of financial risk modelling, loss forecasting etc. preferredKnowledge 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 experienceSelf-motivated and intellectually curious about both the role, supporting technologies and the wider bankExperience with LaTeXSkills:Critical ThinkingQuantitative DevelopmentRisk AnalyticsRisk ModelingTechnical DocumentationAdaptabilityCollaborationProblem SolvingRisk ManagementTest EngineeringData ModelingData and Trend AnalysisProcess Performance MeasurementResearchWritten CommunicationsMinimum Education Requirement: Master's degree in related field or equivalent work experienceShift:1st shift (United States of America)Hours Per Week: 40 Learn more about this role Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge Refer a friend Apply × To proceed with your application, you must be at least 18 years of age. Acknowledge × Bank of America employees are required to meet all posting eligibility requirements prior to applying for any new position. Acknowledge Full time JR-26026466 Manages People: No Travel: No Age requirement: Must at least be 18 years of age. New Jersey pay and benefits information New Jersey pay range: $89,800.00 - $155,000.00 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 Share: Save job Job saved