Quantitative Finance Analyst

Description

This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types. Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products.

• 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
• Supports 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
• Supports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
• Supports the 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

Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks.

In executing its activities, GRA and EIT drive innovation, process improvement and automation.

As a part of Global Risk Analytics, Global Financial Crimes Modeling and Analytics is responsible for enterprise-wide financial crime model development and implementation, ongoing performance monitoring and optimization, data usage, and research and development utilizing advanced analytical tools and systems.

• Modeling and Analytics Team are responsible for model inventory management, model development and enhancement, model tuning and optimization, model risk management, and model analysis and incident management.
• US AML Modeling and Analytics is responsible for development and maintenance of all US AML Feeder models as per acceptable model risk practices and defined performance parameters to meet firm’s AML Risk Coverage, while maintaining operational viability.
• Non-US AML Modeling & Analytics is responsible for development and maintenance of Non-US AML Feeder models to address regional regulatory guidelines while meeting the bank’s AML Risk Coverage and optimizing detection efficiency.
• Case Generation Modeling & Analytics is responsible for the EP model which consolidates and risk ranks alerts generated from US and Non-US AML detection models and promotes suspicious activity as cases for investigation.
• Economic Sanction and Screening Modeling & Analytics is responsible for models that scan entities and transactions against sanctions watchlists and models used to identify customers as part of the KYC process.

Responsible for performing more complex analysis and supporting development of AML transaction monitoring, economic sanctions or customer identification models.

Additional responsibilities include:

• Support AML Modeling with Ad-hoc Analytics, Distribution Analysis, Sensitivity Analysis
• Support GFC with additional data…