Sr. Quantitative Finance Analyst

Sr. Quantitative Finance Analyst

Newark, Delaware;Charlotte, North Carolina; Chicago, Illinois; Atlanta, Georgia

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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 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.

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

Bank of America's Global Risk Analytics (GRA) organization has a high impact opportunity for a Senior Quantitative Financial Analyst within its Consumer Loss Forecasting (CLF) team.

GRA is a quantitative organization which delivers models, tools, and analysis needed to effectively manage risk and capital. The CLF team provides insights via credit loss forecasts and related portfolio, model and forecast analytics for Bank's $500 billion consumer loan portfolio - which includes Mortgage, Credit Card, Auto loan, and Consumer Banking Overdraft products. This position will primarily focus on the Consumer Credit Card product and portfolio.

Forecast Administration plays a critical role in the Bank's allowance and financial planning, enterprise stress testing, and overall risk management activities. It requires combining knowledge of operational management, impacts of product and financial strategies, with analytical skills to enhance risk assessment and loss forecasting capabilities, adding insights to help improve business decision-making.

The Senior Quantitative Financial Analyst interacts with a wide variety of stakeholders including other loss forecast associates, model operations, model developers, Allowance, Finance, Enterprise Stress Testing, Risk and the Front Line Unit. The Analyst should be able to effectively conduct sophisticated analysis and communicate results of such analysis to stakeholders.

Forecast Administration Team Responsibilities:

Each of the following responsibilities require advanced analytical and quantitative capabilities along with strong written and verbal communication skills. Being able to influence resources from within the team or across other teams, and the ability to quickly identify core implications and connections within complex issues is needed in this role.

• Create crisp executive-level analytic content for stakeholders. This includes creating commentary to effectively explain trends, analyze loss projections, portfolio credit quality, and ensure loss forecast reasonability.

• Utilizing cards business knowledge to assess loss model historical back-testing to facilitate recommended forecast adjustments and provide feedback to Model Development. This includes presenting adjustment rationale to stakeholders, obtaining buy-in from partners, and collaborating with model development partners to address existing or emerging model limitations.

• Drive analytics pipeline covering strategy and environmental impacts, as well as consumer financial health on portfolio trends vs. model performance.

• Collaborate across teams to ensure portfolio and business decisions impacts are accounted for in the forecast.

Required Skills:

• 8+ years of Consumer Unsecured analytics experience preferably data analytics, or quantitative research, forecast methods, credit acquisition or existing account management strategy experience, Finance or Collections data analytics, risk management, or quantitative research

• Experience in Risk, Credit, Product Management, Collections or Financial Operations with demonstrated track record of generating and communicating insights which improve performance and understanding

• Navigating and building expertise in new/unfamiliar data sources (internal or external) to correctly interpret data and extract information needed for analysis

• Designing analytical framework / experiment to effectively answer business questions

• Storyteller with demonstrated ability to deliver data insights to business in succinct and digestible manner through strong intuition on linkage between data observations and business significance and effective use of data visualization techniques

• Highly proficient at SQL, demonstrated ability to transform data into analysis ready format

• Attention to detail coupled with ability to simplify the complex

• Demonstrated ability to independently drive, organize and work collaboratively across multiple teams and functions

• Flexibility to work independently with little supervision in a complex team environment

• Proficiency with Tableau, MS Word/Excel/PowerPoint

• Previous demonstrated strong leadership or project management experience

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, 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.

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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.

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. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.

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.