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! Responsibilities Conduct quantitative analysis and model validation projects independently. Create documentation for all activities and work with Technology staff to design any systems that run the validated models. Review the underlying assumptions, theory, derivation, empirical evidence, implementation, and limitations of the model being validated. Perform independent testing to identify and quantify model risk associated with the model being validated. Prepare validation reports and technical documents for the model being validated. Work closely with model stakeholders (business, model developers, Market Risk, Finance/PVG, and other control functions) regarding compensating controls of the models and communication of validation outcomes. Maintain a sub-portfolio of model inventory and perform annual model reviews, ongoing monitoring reviews, Required Action Items, and Recommendations closure. Apply the firm's technical systems and platforms, as well as programming languages (e.g., Python, C++), to conduct independent quantitative testing and ongoing model performance reviews. Support and contribute to remediation work for regulatory findings related to covered businesses and models. Participate in and lead initiatives to simplify and improve MRM programs to drive more effective model risk management. Remote work may be permitted within a commutable distance from the worksite. Required Skills & Experience Master's degree or equivalent in Financial Mathematics, Finance, Economics, Management or related: and 2 years of experience in the job offered or a related Quantitative occupation. Must include 2 years of experience in each of the following: Using modeling principles including time-series, stochastic processes, numeric methods and knowledge of financial markets to independently test models for Equities and derivative products; Implementing models for derivative pricing and portfolio valuation using data analysis and Monte Carlo techniques; Developing performance assessment dashboards for different asset classes including Equities, Commodities, and FX in VBA and Python; Applying statistical techniques to analyze trends and uncover risks in performance of volatility models for option pricing, risk management and market strategies; and, Preparing technical reports/presentation slides with quantitative information that are accessible to stakeholders and clients who are not necessarily versed in quantitative finance. Employer will accept pre
- or post-Master's degree experience in meeting the minimum requirements.
If interested apply online at www.bankofamerica.com/careers or email your resume to bofajobs@bofa.com and reference the job title of the role and requisition number.
EMPLOYER
Bank of America N.A.
Shift:
1st shift (United States of America)
Hours Per Week:
40 Pay Transparency details US
- CA•San Francisco•555 California St•Bofa Center•555 California (CA5705) Pay and benefits information Pay range $145,000.
00
00 annualized salary, offers to be determined based on experience, education and skill set. Discretionary incentive eligible This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company. Benefits This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
Privacy Statement:
https://careers.bankofamerica.com/en-us/privacy-notice 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! Partnering Locally Learn about some of the ways Bank of America is making a difference in the communities we serve. Global Impact Learn about the six areas that guide Bank of America's efforts to help make financial lives better for customers, clients, communities and our teammates. Opportunity and Inclusion Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success. Our Values Learn about our four values that represent what we believe.
Pay Transparency:
https://careers.bankofamerica.com/en-us/pay-transparency
