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. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We’re devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!
Job Description:
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.
Responsibilities:
- 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
- Leads 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
- Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
- Leads and provides 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
Skills:
- Critical Thinking
- Quantitative Development
- Risk Analytics
- Risk Modeling
- Technical Documentation
- Adaptability
- Collaboration
- Problem Solving
- Risk Management
- Test Engineering
- Data Modeling
- Data and Trend Analysis
- Process Performance Measurement
- Research
- Written Communications
Minimum Education Requirement: Master’s degree in related field or equivalent work experience
Bank of America Global Risk Analytics (GRA) is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure that models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard. GRA Infrastructure management is crucial to GRA’s successful delivery of regulatory, business, and model risk management objectives.
Lead infrastructure workstreams or sub-workstreams in delivery, issue remediation, and process improvements. For example, lead GRA teams through hardware/software upgrades, disaster recovery exercises with thorough planning, execution, and communication; Lead GRA teams through access control enhancements to ensure compliance with Enterprise data management and access management policies and standards
Identify issues and improvement opportunities with existing process, define target process and roadmap to target.
Lead new Technology infrastructure functionality build-outs by defining detailed requirements for the Technology platform, performing user acceptance testing, and socializing new capabilities to GRA team leads and users.
Communicate effectively across large user base and team leads from GRA and Technology Infrastructure team on Infrastructure projects and initiatives
Years of Experience: 3+ Years
Background: Financial Service Industry
Education: Master’s degree in a quantitative field such as Computer Science and Engineering
Required Skills:
Project Management - Strong analytical, planning, problem-solving, management and organizational skills. Experience with project management tools such as JIRA.
Communicates and Influences - Possess excellent verbal and written communications skills including ability to clearly present results and ideas across multiple levels of management. Strong interpersonal & communication skills with ability and desire to build networks and work across multiple functions
Results Driven - Ability to work independently, draw meaningful conclusions and develop recommendations. Detail oriented and proactive in every approach. Exhibits a “can-do” attitude. Able to assess overall picture and understand key risks, with a dedicated work ethic to deliver high standards of excellence
Interpersonal Effectiveness - Actively develops and manages relationships across the division and with a wide variety of partners based on trust, teamwork and knowledge. Successful at stakeholder management and influencing; builds partnerships to achieve sustainable results.
Perspective - Ability to understand impact of change across a spectrum of inter-related initiatives.
Proficiency in Python, SQL, and data analytics tools such as Tableau
Advanced proficiency with Microsoft suite
Desired Skills:
Experience with software migration, disaster recovery planning
Experience with CCAR, CECL
Shift:
1st shift (United States of America)
Hours Per Week:
40