Quantitative Finance Analyst

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 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 Global 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 Wholesale, Consumer and Global Financial Crimes. The team has a requirement for a highly-motivated Quantitative Finance Analyst to join us to support enhancements to existing Wholesale and Consumer loss forecasting models as well as developing new models. There is always the potential for further growth supporting one of the numerous other areas we support (Global Financial Crimes, 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 supported Pro-actively work with stakeholders across the business(es) 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 Some 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 financial 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 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

Pay Transparency details US - NJ - Jersey City - 525 Washington Blvd (NJ2525)Pay and benefits informationPay range$89,800.00 - $155,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.