Senior Quantitative Finance Analyst

Senior Quantitative Finance Analyst at Bank of America

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.

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.

• Develop and enhance quantitative risk models, analytics, and applications in support of market risk assessment and regulatory capital calculation in current Basel 2.5 (e.g., VaR, Stressed VaR, Risks Not in VaR) and/or upcoming FRTB (e.g., Standard Approach, Expected Shortfall, Non‑modellable risk factor, Risks Not in Model) regulatory framework.
• Develop and enhance quantitative risk models, analytics and applications for the firm’s Stress Testing including CCAR.
• Conduct analysis for implementation of market risk models in strategic model platform.
• Develop model performance monitoring metrics such as benchmarking, back‑testing as part of continuous efforts to identify and remediate potential model weakness.
• Closely work with Global Markets Risk (GMR) and Front‑Line Units (FLU) trading desks for internal risk management, Enterprise Capital Management (ECM) for market risk capital requirements, technology partners for model implementation, front‑office pricing model quant developers, and Model Risk Management (MRM) for model risk oversight.
• Perform quantitative analysis in preparation of exams, regular dialogues with supervisory regulators across the globe.

• Critical Thinking
• Quantitative Development
• Risk Analytics
• Risk Modeling
• Technical Documentation
• Adaptability
• Collaboration
• Problem Solving
• Risk Management
• Test Engineering
• Data Modeling
• Data and Trend Analysis
• Process Performance Measurement
• Research
• Written Communications

• Master’s degree in related field or equivalent work experience.
• PhD (preferred) or master’s degree in quantitative fields such as financial engineering, mathematics, statistics, physics, computer science, or equivalent.
• Solid 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.
• In depth understanding of Value at Risk and statistical estimation methods.
• Strong communication (both written and verbal) and collaboration skills (this project involves communicating with various groups within the firm).
• Effective thinking skill to be able to independently and proactively identify/suggest/resolve issues.

• Work experience in FRTB.
• Experience in large‑scale model platform implementation in collaboration with other teams.
• Strong Operational Excellence mindset.
• Effective organizational skill.

1st shift (United States of America)

40

Mid‑Senior level

Full‑time

Finance and Sales

Banking