Senior Quantitative Finance Analyst

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!

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.

They 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.

The GMRA team under GRA is responsible for developing, maintaining, and monitoring Counter party Credit Risk (CCR), the Internal Model Method (IMM), Central Clearing Counter parties (CCP), and Value at Risk (VaR). GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.

MRQ team's remit spans market risk models for internal risk management, market risk capital requirements for Internal Model Approach (IMA) approved Legal Entities within Basel 2.5 regulatory framework, and IMA and Standardized Approach (SA) for upcoming Fundamental Review of the Trading Book (FRTB) regulatory framework, stress testing such as CCAR, EST, ICAAP, Recovery and Resolution Planning, and Climate Risk.

• 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…