Sr. Quantitative Finance Manager

Sr. Quantitative Finance Manager

Jersey City, New Jersey

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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 directing a team of finance managers to develop or validate quantitative analytics and models for specific business units or risk types. Job expectations include directing activity in their region to support business units and acting as a subject matter expert on specified quantitative modeling techniques, as well as serving as the first or second line of defense overseeing model performance, model risk, and model governance on critical model portfolios.

Responsibilities:

• Directs a quantitative team with model coverage of specified focus areas and oversees stakeholder engagement, including team effort in preparation for audit and regulatory exams

• Sets 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, while providing oversight to managers on reviews

• 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

• Coordinates team projects, while managing and providing guidance to senior level staff on areas of expertise

Overview of Global Risk Analytics : Global Risk Analytics is a? sub-line of business within Global Risk Management. 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.

Overview of Model Standards and Oversight : The Model Standards and Oversight team provides standards and oversight for GRA that ensure it operates effectively and efficiently, and output is delivered to a high standard and within a robust governance framework.

You will be responsible for:

• Raising model performance monitoring standards across GRA

• Helping better identify model weaknesses and anticipate development needs

• Driving efficiency in performance monitoring activities

• Adjusting GRA's monitoring framework as needed to cater to upstream model risk policy changes

The successful candidate will possess the following:

• A proven ability to challenge the status quo, influence and collaborate

• An understanding of the model development and use lifecycle

• An understanding sound model development and use practices and associated regulatory drivers such as SR26-2

• Strategic and critical thinking

• Good interpersonal skills, communication skills and an ability to influence at all levels of seniority

• Strong analytical and problem-solving skills

• Attention to detail

Skills:

• Business Acumen

• Critical Thinking

• Project Management

• Regulatory Relations

• Talent Development

• Policies, Procedures, and Guidelines Management

• Risk Management

• Stakeholder Management

• Strategic Thinking

• Technical Documentation

• Drives Engagement

• Inclusive Leadership

• Risk Analytics

• Risk Modeling

• Written Communications

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 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.

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