Bank of America Senior Quantitative Finance Analyst in Charlotte, North Carolina
Responsible for independently conducting quantitative analytics and complex modeling projects. Leads efforts in development of new models, analytic processes or system approaches. Creates documentation for all activities and may work with technology staff in design of any system to run models developed. Incumbents possess excellent quantitative/analytic skills and are able to influence strategic direction, as well as develop tactical plans.
Responsible for independently conducting quantitative analytics and modeling projects. Responsible for developing new models, analytic processes or systems approaches. Creates documentation for all activities and works with Technology staff in design of any system to run models developed. Incumbents possess excellent quantitative/analytic skills and a broad knowledge of financial markets and products.
Enterprise Model Risk Management seeks a quantitative analyst to conduct independent testing and review of models used for revenue and loss forecasting. These are high profile modeling areas in the bank, with continual senior management and regulatory focus.
General responsibilities include:
Assessing conceptual foundations of a model, model specification, underlying assumptions, limitations, variable selection, underlying data, developmental evidence, documentation.
Challenging model assumptions and approach as needed.
Proposing and executing model validation tests.
Developing code to replicate results and conduct independent testing.
Verifying accuracy of model implementation.
Assessing quality of model outputs through back testing against realized outcomes, benchmarking against alternative models and other relevant tests.
Conducting ongoing model monitoring.
Writing thorough technical reports for distribution and presentation to senior management, model developers, audit and bank regulators. Maintaining accurate records in the banks model risk management system
Master's degree in Economics, Statistics, Mathematics, Finance, Engineering, Physics or related field.
Solid knowledge of linear regression, time series model, logistic regression and simulation based models.
Deep understanding and knowledge of model performance measures.
Basic knowledge in financial risk modeling or validation.
Strong programming ability using SAS, R, Matlab and SQL.
Ability to communicate clearly and effectively.
Ability to produce high quality technical documentation.
Ph.D. degree in Economics, Statistics, Mathematics, Finance, Engineering, Physics or related field.
Knowledge of financial instruments and financial risk management principles.
Experience in capital model (including Moodys GCorr), VAR model and loss forecasting model.
Experience in risk management or quant group in a bank, financial institution or vendor.
Knowledge of machine learning, linear/non-linear regression or differential equations.
Experience in computational, engineering or scientific research or development roles.
Programming experience using Python, C/C++ or Java.
Bank of America will consider for employment qualified applicants with criminal histories consistent with San Francisco ordinance 17-14 and federal law applicable to Bank of America.
Posting Date : 02/07/2017
Location : US-CA-San Francisco, US-NC-Charlotte
Travel : Yes, 5% of the time
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
Assistance for Applicants with Disabilities
Bank of America is committed to ensuring that our online application process provides an equal employment opportunity to all job seekers, including individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to submit an application, please visit the Applicants with Disabilities page at http://careers.bankofamerica.com/us/applicants-with-disabilities .
Diversity & Inclusion
At Bank of America, our commitment to diversity and inclusion is helping us to create not only a great place to work, but also an environment where our employees, our customers and our communities around the world can reach their goals and connect with each other. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.
Frequently Asked Questions
Need to know how to apply online, view a list of your submitted job applications or reset your password? Visit our FAQ at http://careers.bankofamerica.com/us/faq section for answers to these questions and more.