Sr. Quantitative Finance Manager

Overview We are looking for a Senior Quantitative Finance Manager to lead a team of finance managers in developing and validating quantitative analytics and models for specific business units or risk types. This role is responsible for overseeing model performance, model risk, and model governance on critical model portfolios. Responsibilities Direct a quantitative team with model coverage of specified focus areas and oversee stakeholder engagement, including team effort in preparation for audit and regulatory exams. Set quantitative work priorities in line with the bank’s overall strategy and prioritization. Identify continuous improvements through reviews of approval decisions on relevant model development or validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation while providing oversight to managers on reviews. Maintain and provide oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise’s risk appetite. Lead and provide 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. Work closely with model stakeholders and senior management with regard to communication of submission and validation outcomes. Coordinate team projects while managing and providing guidance to senior level staff on areas of expertise. Managerial Responsibilities Opportunity & Inclusion Champion: Breaks down barriers to create a more inclusive environment that supports company Great Place to Work goals. Manager of Process & Data: Challenges end‑to‑end process efficiency and effectiveness, champions data‑driven decision‑making, and removes obstacles to optimize operations. Enterprise Advocate & Communicator: Contributes to enterprise strategy and influences messaging to connect team contributions to business purpose, results, and success. Risk Manager: Inspects and challenges risk controls, governance, and culture to ensure the timely identification, escalation, debate, and remediation of risk across the organization. People Manager & Coach: Coaches to sustain and elevate organizational performance while differentiating to ensure pay for performance. Financial Steward: Efficiently allocates and manages resources across the organization to drive short and long‑term profitability. Enterprise Talent Leader: Inspects and manages the health of the bench to ensure succession for the organization, while supporting enterprise talent needs. Driver of Business Outcomes: Mobilizes organizational resources to deliver the full range of the bank’s capabilities to meet client needs and to gain competitive advantage. Team and Scope The Global Markets Risk Analytics (GMRA) team under GRA develops, maintains, and monitors Counterparty Credit Risk (CCR), the Internal Model Method (IMM), Central Clearing Counterparties (CCP), and Value at Risk (VaR). The Market Risk Quants (MRQ) team focuses on market risk models for internal risk management, market risk capital requirements, and upcoming regulatory frameworks such as FRTB, along with stress testing initiatives (CCAR, EST, ICAAP, recovery and resolution planning, climate risk). Position Overview Manage a group of staff responsible for developing and evaluating quantitative analytics/models for specific business units or types of transactions. Direct activity of staff in providing support to the business unit and to other business units within Bank of America. Actively involved in the analytics effort while spending significant time managing staff and coordinating projects. Serve as a senior level resource or resident expert on particular analytic/quantitative modeling techniques. Provide guidance to staff on areas of expertise. Deliver operational capabilities, governance framework, and obtain international regulatory approvals on regulations such as ECB TRIM, PRA and Basel Rules. Develop market risk models (model development, submission, production roll‑out) and perform analysis for VaR/RNiV model development, documentation/submissions, and address action items from model risk management, regulators, audit, and model performance tests. Perform statistical analysis on market historical data and model parameters. Develop and support benchmarking and backtesting. Identify, analyse and explain overages. Partner with internal groups (Capital, Risk, Technology, Model Risk Management, Market Risk Management) on model enhancement, performance testing and documentation to remediate internal and external requirements. Conduct analysis and verification on market data, risk metrics and P&L time series. Prepare developmental evidence and documentation to support internal and external exams. Perform in‑depth analysis on the bank’s risk model results using back‑testing, benchmarking and sensitivity analysis. Identify common themes across global markets and propose improvement initiatives. Communicate results of this analysis to all model stakeholders including risk management, model development, model risk, senior management and regulators. Support model development in confirming remediation of model issues prior to their being taken live. Qualifications PhD (preferred) or Master’s degree in quantitative fields such as financial engineering, mathematics, statistics, physics, computer science, or equivalent. 5+ years of work experience in developing FO pricing models or market risk models. Advanced programming skills in Python with 5+ years of experience. Solid understanding of derivatives pricing, especially IR option pricing models. In‑depth understanding of Value at Risk and statistical estimation methods. Strong communication (both written and verbal) and collaboration skills. Effective thinking skills to identify, suggest, and resolve issues independently. Desired Skills and Experience Work experience in IBOR/SOFR/ESTER/FRTB. Business Acumen. Critical Thinking. Project Management. Regulatory Relations. Talent Development. Policies, Procedures, and Guidelines Management. Risk Management. Stakeholder Management. Strategic Thinking. Technical Documentation. Engagement Drives. Inclusive Leadership. Risk Analytics. Risk Modeling. Written Communications. Shift: 1st shift (United States of America). Pay & Benefits Shift: 1st shift (United States of America); Hours Per Week: 40. Location: US – IL – Chicago – 540 W Madison St – Bank Of America Plaza (IL4540). Pay range: $203,000.00 – $323,700.00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible: The 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. Benefits: This role is currently benefits eligible. We provide industry‑leading benefits, access to paid time off, resources and support to employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve. Privacy Statement: Pay Transparency: #J-18808-Ljbffr Bank of America