Sr. Quantitative Finance Analyst

Bank Of America Senior Quantitative Financial Analyst

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.

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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

Pay Transparency details

US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540)Pay and benefits informationPay range$125,000.00 - $210,000.00 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.