Assistant 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
Apply quantitative methods to develop new granular capabilities that meet risk management, line of business, and regulatory requirements.
Articulate the overall holistic picture of model performance, with clear conclusions regarding accuracy and remediation areas as required.
Identify and apply new statistical and econometric techniques to support enhanced granularity of risk management capabilities via elevated intellectual curiosity with an acute sense of innovation.
Articulate clearly to senior stakeholders quantitative solutions that are designed to drive the business forward by addressing critical business problems.
Communicate model results to model stakeholders, including risk management, model development, model risk, senior management, and regulators.
Perform in-depth analysis on the Bank's risk model results using various quantitative tools such as back testing, benchmarking, and sensitivity analysis.
Develop and analyze statistical models such as linear regression, auto regression, or logistic regression to assess model diagnostics and model performance.
Generate statistical analysis to support stress testing, credit risk management, and regulatory examinations.
Create model documentation describing model development and testing to enable independent model validation.
Conduct quantitative analysis on inputs and outputs for econometric models used in stress-testing.
Required Skills & Experience
Master's degree or equivalent in Finance, Statistics, Mathematics, Applied Statistics, 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:
Analyzing and evaluating large and complex economic and financial datasets with analytical tools of Python, SQL and R;
Using big data technologies of SQL to handle large volumes of data produced by complex financial forecasting models;
Performing quantitative modeling by utilizing advanced quantitative techniques and tools of statistical analysis, predictive modeling, linear regressions, and Machine Learning;
Utilizing Python and SQL to conduct data analysis, estimate model coefficients, and aggregate the model results to generate comprehensive model outputs; and,
Producing technical reports of publication quality with academic rigor and comprehensive risk coverage to support internal reviews and assess with stakeholders.
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.
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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.
