Vice President; Quantitative Finance Analyst
San Francisco, California
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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!
Responsibilities
Conduct quantitative analysis and model validation projects independently.
Create documentation for all activities and work with Technology staff to design any systems that run the validated models.
Review the underlying assumptions, theory, derivation, empirical evidence, implementation, and limitations of the model being validated.
Perform independent testing to identify and quantify model risk associated with the model being validated.
Prepare validation reports and technical documents for the model being validated.
Work closely with model stakeholders (business, model developers, Market Risk, Finance/PVG, and other control functions) regarding compensating controls of the models and communication of validation outcomes.
Maintain a sub-portfolio of model inventory and perform annual model reviews, ongoing monitoring reviews, Required Action Items, and Recommendations closure.
Apply the firm's technical systems and platforms, as well as programming languages (e.g., Python, C++), to conduct independent quantitative testing and ongoing model performance reviews.
Support and contribute to remediation work for regulatory findings related to covered businesses and models.
Participate in and lead initiatives to simplify and improve MRM programs to drive more effective model risk management.
Remote work may be permitted within a commutable distance from the worksite.
Required Skills & Experience
Master's degree or equivalent in Financial Mathematics, Finance, Economics, Management 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:
Using modeling principles including time-series, stochastic processes, numeric methods and knowledge of financial markets to independently test models for Equities and derivative products;
Implementing models for derivative pricing and portfolio valuation using data analysis and Monte Carlo techniques;
Developing performance assessment dashboards for different asset classes including Equities, Commodities, and FX in VBA and Python;
Applying statistical techniques to analyze trends and uncover risks in performance of volatility models for option pricing, risk management and market strategies; and,
Preparing technical reports/presentation slides with quantitative information that are accessible to stakeholders and clients who are not necessarily versed in quantitative finance.
Employer will accept pre- or post-Master's degree experience in meeting the minimum requirements.
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.
