Lead Quantitative Finance & Risk Analytics

Job Description

This job is responsible for conducting quantitative analytics and complex modeling projects for specific business units or risk types. Key responsibilities include leading the development of new models, analytic processes, or system approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.

• Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyzes stress scenario results to better understand key drivers
• Leads the planning related to setting 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
• 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
• Performs statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches

As a part of Scenario & Enterprise Risk Analytics (SERA), the Research sub-team provides credit focused intelligence, in-depth macro‑economic and industry specific credit research, and powerful analytical tools to support credit risk management and decision making across the enterprise. The team is responsible for innovative solutions and support in both business‑as‑usual (BAU) activities, including regulatory deliverables in Scenario Generation, Loss Forecasting, Model Development etc.,

and next generation capabilities development that foster the advancement of data‑driven insights in support of responsible growth.

• Economic & Industry Insights and Analytics

  Utilize both public and Bank of America internal data to monitor key developments and curate in‑depth research of US & global economies and industries. Identify emerging and emergent risks in the economic and industry conditions that could impact the bank's credit decisions, risk appetite & limits and the overall risk and capital frameworks. Regular deliverables:
  Industry Earnings Monitor reports, Weekly Economic Insights, Market Signals.

• Scenario Generation & Support

  Current:
  Engage in the end‑to‑end scenario generation process, including scenario design, review, and approval of macroeconomic projections. Provide economists subject matter expertise for all 10 models with 1200+ variables in the scenario generation model suite, providing support in model development, internal & external model review, and regulatory exams. Usage of the scenarios includes CCAR, CECL, Corporate and Capital Planning. Future:
  Engage in the review & challenge of macroeconomic scenario projections in collaboration with internal teams responsible for producing scenario models and associated forecasts. The research team is the primary SMEs providing expertise and insights to ensure the scenario projections align with economic intuition prior to review and approval by executive stakeholders. Past scenarios delivered:
  Debt Ceiling Breach Scenario, Election Scenario, Persistent Inflation Scenario, and internal stress scenarios (BAC‑A, BAC‑SA, CE‑A, CE‑SA).

• Next Generation Analytics Capability Development

  Build and continuously improve new analytical dashboards, reports and capabilities. The team strives to achieve operational excellence and efficiency in the development and delivery of products in order to minimize…