Bank of America Quantitative Finance Analyst - New York, NY in New York, New York
General Job Description:
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.
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. Bank of America Merrill Lynch is the marketing name for the companys global banking and global markets businesses.
The company is a long-established participant in the European marketplace, with a presence since 1922. With offices throughout Europe and CEEMEA, the company offers an integrated and comprehensive set of products and services across all businesses, serving the needs of individual, corporate, institutional and government clients, by combining the best of local knowledge and international expertise. Bank of America Merrill Lynch has a strategic and measured approach to its international development and is strengthening its business and infrastructure to create sustainable, long-term growth.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (""Investment Banking Affiliates""), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and a member of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
Bank of America Merrill Lynch offers a number of outstanding career opportunities designed to attract and retain all skill levels a chance for both personal and professional development as well as a salary and benefit package designed to reflect the individuals contribution.
Specific Job Description
Bank of America Merrill Lynch is seeking to employ a Model Risk Manager to work on the validation, risk management and control of models used and developed by the Global Rates line of business. The successful candidate will be responsible for the validation of the relevant models, and work closely with the front office model developers and other support partners, in particular market risk, PVG and middle office.
Reviewing and testing models primarily used by the Global Rates line of business. This includes interest rate and inflation models for both vanilla and exotic products.
Liaising with the Rates class head to discuss the results of reviews, implementations and ongoing monitoring of models.
Independent re-implementation of front office models for benchmarking and validation.
Documentation of validation activities.
Liaising with front office model developers and other control functions to ensure proper governance of the model inventory.
PhD or Master in Computational Finance, Mathematics, Statistics, Physics or related degree along with a quantitative related thesis.
Strong finance or risk background with excellent quantitative skills and expert knowledge of stochastic calculus.
Excellent communication skills (written and verbal) and interpersonal skills.
Extremely well organized and detail-oriented.
Experience of developing and testing models in Python.
Familiarity with the LaTeX document preparation system.
Quantitative modeling experience in rates or related area in a major trading or investment firm
Posting Date : 08/09/2017
Location : US-NY-New York
Travel : Yes, 5% of the time
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
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