Vice President; Quantitative Finance Analyst
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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
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.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Responsibilities:
Monitor and perform in-depth quantitative analysis on the bank's risk model results and limitations with determined statistical metric or threshold, using various quantitative tools such as back testing, benchmarking, calibration monitoring, and sensitivity analysis.
Build processes to support model monitoring routines, perform statistical model testing, analyze model test results, and perform risk assessment for model performance issues.
Support the daily process around model monitoring process and maintenance, execution and exception analysis liaising with stakeholders to diagnose model performance issues.
Work with the model development team to understand our model implementation and assess the impact of model limitations on our monitoring results.
Pull together the overall holistic picture of model performance along with clear conclusions on overall accuracy and remediation areas as required.
Drive incremental improvement to our model performance assessment toolset across all business areas through automation work, development of utilities, and enhancement of visualization tools, by utilizing programming skills in Python.
Assist in the production and presentation of reporting packages and analysis.
Communicate the results of analysis to all model stakeholders including risk management, model development, model risk, senior management governing committees and regulatory bodies.
Develop model performance analytical toolset by utilizing programming skills in Python.
Drive improvements to model performance assessment tool set across all business areas through data pipeline aggregation, automation work, development of utilities, and enhancement of visualization tools.
Monitor complex financial models, and perform quantitative analysis to model results and limitations regularly with determined statistical metric or threshold.
Perform in-depth statistical analysis on model performance using quantitative tools of benchmarking, calibration monitoring, and sensitivity analysis.
Remote work may be permitted within a commutable distance from the worksite.
Required Skills & Experience:
Master's degree or equivalent in Finance, Statistics, Mathematics, Financial Engineering, or related: and
2 years of experience in the job offered or a related Quantitative occupation.
Must include 2 years of experience in each of the following:
Developing model performance analytical toolset by utilizing programming skills in Python;
Driving improvements to model performance assessment tool set across all business areas through data pipeline aggregation, automation work, development of utilities, and enhancement of visualization tools;
Monitoring complex financial models, and performing quantitative analysis to model results and limitations regularly with determined statistical metric or threshold; and,
Performing in-depth statistical analysis on model performance using quantitative tools of benchmarking, calibration monitoring, and sensitivity analysis.
If interested apply online at www.bankofamerica.com/careers or email your resume to bofajobs@bofa.com and reference the job title of the role and requisition number.
EMPLOYER: Bank of America N.A.
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.
View your "Know your Rights (https://www.eeoc.gov/sites/default/files/2023-06/22-088\EEOC\KnowYourRights6.12.pdf) " poster.
View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .
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.
