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 is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

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.

Line of Business Job Description:

Team / Overview:

The Quantitative Finance and Analytics (QFA) team in Global Banking and Markets (GBAM) Stress Testing team combines financial expertise, impactful analytics, and programming skills to quantify, summarize, and report revenue, expense, and balance sheet impacts for various economic scenarios across GBAM. This is an excellent opportunity for growth, as this team interacts across all of GBAM’s business units, including Lines of Business, Finance, Risk and other support partners. The Quantitative Finance Analyst will assist in forecast administration (methodology development, management, documentation, communication) and enhancements to forecasting platform and analytics.

Responsibilities:

Members of the team investigate relationships between macro-economic variables and revenue streams to identify correlations that enable modeling of revenues streams. Additionally, programming and other analytical tools are used to drive model development, correlation analysis, performance testing and the automation of reporting. On a quarterly basis, all members of the QFA team run models, prepare summary results/materials, and present the results to Finance and Business partners for approval. Also, the QFA team discusses forecasts derived using complex, statistical models with both technical audiences, including statisticians and modelers, and non-technical audiences, and presents financial results in a non-technical manner to Heads of Business and Senior Management. In addition, the QFA team helps work through the model validation process and maintains process documentation, as required for internal governance or regulatory requirements.

The results are used in deliverables for the CCAR (Comprehensive Capital Analysis and Review), the Federal Reserve’s annual assessment of the capital adequacy for the largest most complex U.S. banks, and OCC’s equivalent DFAST requirement. Both mid-year and year-end reporting is required and is completed through the compilation of FR Y-14A reporting templates and supporting documentation.

Required Qualifications:

• 3-5 years of experience with technical or quantitative projects in the financial services industry
• Strong analytical, critical thinking and problem solving skills to lead or facilitate discussions across various levels of stakeholders/support partners to drive adoption of new technologies
• Ability to manage multiple projects at the same team and influence decision-making across an array of stakeholders

Desired Qualifications:

• Experience in programming in R or Python, with a special focus on time series modeling to support running econometric models
• Ability to develop scripts/code to automate reports and produce dynamic visual analytics
• Experience in performing CCAR Stress Testing and utilizing methodologies to project revenue and balance sheet through models/qualitative 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

Shift:

1st shift (United States of America)

Hours Per Week:

40