Quantitative Finance Analyst

Quantitative Finance Analyst Jersey City, New Jersey;Chicago, Illinois; Pennington, New Jersey

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• 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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve. Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

• Job Description:

• This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types.

Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products.

• 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 + Supports 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 + Supports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite + Supports the 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 Bank of America Merrill Lynch has an opportunity for a Quantitative Finance Analyst within our Global Risk Analytics (GRA) function.

Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM) and 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 partners 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 drives innovation, process improvement and automation.

• Overview of the

Team:

• The Global Markets Risk Analytics (GMRA) team under GRA is responsible for developing, maintaining, and monitoring Counterparty Credit Risk (CCR), the Internal Model Method (IMM), Central Clearing Counterparties (CCP), Value at Risk (VaR) and Asset Liability Management (ALM).

GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets. This role sits within Model Performance team (MP), which is responsible for monitoring and assessing the performance of all risk models used across Global Markets - supporting risk management in understanding the drivers behind material risk metric movement, the impact of model limitations, and working with the model development team to enhance model accuracy and the overall performance of the analytics platform.

• Overview of the

Role:

• As a Quantitative Finance Analyst, your responsibilities will involve: + Performing in-depth analysis on the bank's risk model results using various quantitative tools such as backtesting, benchmarking, sensitivity analysis + Quantifying the impact of model limitations both in terms of firm level capital and name level exposure + From this analysis, pulling together the overall holistic picture of model performance along with clear conclusions on overall accuracy and remediation areas as required + Identifying common themes across global markets along with improvement initiatives + Communicating the results of this analysis to all model stakeholders including risk management, model development, model risk, senior management and our regulators + Supporting model development in confirming remediation of model issues prior to their being taken live + Driving incremental improvement to our model performance assessment toolset across all business areas 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.

• Minimum Education Requirement:

• Master's degree in related field or equivalent work experience

• Required Qualifications:

• + Master degree and above (or equivalent), preferably in quantitative finance or a quantitative field + Solid working experience (2 years +) in a related field (Market Risk, Middle Office, Counterparty Credit Risk).

+ Broad financial product knowledge + Experience in data analysis, with excellent research and analytical skills + Proven programming skills (Python, C++, SQL, or equivalent object-oriented programming) + Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions + Ability to multitask with excellent time management skills + Sense of focus and rigor in the completion of deliverables + Pro-active behavior with capacity to seize initiative

• 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

• Shift:

• 1st shift (United States of America)

• Hours Per Week:

• 40 Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws.

The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates. View your

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Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment. 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. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work. This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.