Bank of America Senior Quantitative Finance Analyst in Chicago, Illinois
Enterprise Model risk management is looking for a subject matter expert in commercial risk modeling space to join the team as a senior model validator. The successful candidate will report to the Head of Wholesale Model Risk Management team and will be responsible for independently reviewing and validating commercial risk models used for risk rating scorecards, loss forecasting, regulatory capital, and allowance. These are high profile modeling areas in the bank, with continual senior management and regulatory focus. The qualified candidate will routinely interact with Model Developers, Model Owners, and Model Users to prioritize and complete validation activities, and to communicate model validation outcomes. The candidate is also expected to provide support to senior management during regulatory and audit exams.
This role offers an opportunity to be part of a dynamic and strong Model Risk Management team in a top global bank. The qualified candidate will get exposure to advanced modeling techniques and will work on high profile projects.
Validate commercial risk models developed by Global Risk Analytics. Coverage includes all model uses: risk rating scorecards, loss forecasting, regulatory capital, and allowance.
Independently review and critically challenge the models on underlying assumptions, theory, empirical evidence, implementation and limitations.
Develop and implement effective testing plans to critically challenge models and identify/quantify the model risk associated with the model.
Independently prepare high quality model validation reports and technical documents.
Work closely with the Line of Business, risk partners, model developers and other control functions to communication model validation outcomes and manage other MRM activities.
Maintain a sub-portfolio of model inventory and perform annual model reviews, on-going monitoring reviews, and Required Actions Items closure
Coach and mentor junior staff members in model validation projects
PhD or Master’s degree in finance, economics, mathematics, or statistics (or other related quantitative discipline)
5+ years of relevant work experience.
Expertise in developing or validating commercial credit risk models at large financial institutions.
Ability to communicate clearly and effectively.
In-depth understanding of statistical inference and related techniques.
Deep knowledge in a statistical or analytical modeling language such as SAS, Matlab or R.
Experience working with large and complex data sets
Strong written and verbal communication skills.
Deep understanding and knowledge of model performance measures.
Extensive knowledge of banking regulations on credit risk, model risk and credit risk modeling methodologies.
Strong project management skills
Posting Date : 07/05/2018
Chicago, IL, 135 S LA SALLE ST (IL4135),
Charlotte, NC, ONE BANK OF AMERICA CENTER, 150 N COLLEGE ST,
- United States
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.