Quantitative Finance Analyst

Charlotte, North Carolina;Jersey City, New Jersey; Atlanta, Georgia; Newark, Delaware

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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

Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM), 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.

Scenario and Enterprise Risk Analytics organization provide valuable insights into decision-making processes by decoding and quantifying risks to

support our business strategy to achieve responsible and sustainable growth. Our vision is to serve as the go-to function to answer day-to-day risk management questions via state-of-the-art modeling and analytical tools. We want to add value and be relevant beyond regulatory and internal compliance

As a Quantitative Finance Analyst on the team, your main responsibilities will involve:

+ Development of wholesale credit risk models including loss forecasting, commercial scorecards, behavioral score, regulatory capital models.

+ Executing in-depth analysis of wholesale credit performance and financial data.

+ Preparing white papers for developed models.

+ Interacting with internal model risk management, addressing potential concerns, and remediating model related findings.

+ Supporting post implementation activities including ongoing monitoring review and interaction with various stakeholders.

+ May be responsible for independently conducting quantitative analytics and complex modeling projects.

+ Support efforts in development of new models, analytic processes, or system approaches.

+ Creates documentation for all activities and may work with technology staff in design of any system to run models developed.

+ Incumbents possess excellent quantitative/analytic skills.

**Required Qualifications:**

+ Master's degree or higher in Computer Science, Data Science, Statistics, Mathematics, Finance, or a related quantitative discipline.

+ Experience & Skills

+ Strong STEM background - Knowledge of Machine Learning, NLP, Deep Learning, Statistical Modeling, Quantitative Analysis, Forecasting, Data Visualization

+ Proficiency in languages such as Python (scikit learn, pandas, numpy etc.), SQL, SAS, R & MATLAB, C/C++ Prior experience with SQL. And NoSQL databases, distributed computing

+ Knowledge of data visualization tools like Tableau, Power BI

+ Minimum of 2 years of relevant experience

+ Applied statistics skills, such as distributions, statistical testing, regression, etc.

+ Strong business analysis and documentation skills, including requirements, process flows, and data lineage

+ Ability to manage multiple and competing priorities

+ Excellent written and verbal communication skills

**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:**

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 "Know your Rights (https://www.eeoc.gov/sites/default/files/2023-06/22-088\_EEOC\_KnowYourRights6.12.pdf) " poster.

View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notic...) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. 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.

Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:

**Are Not FDIC Insured** **Are Not Bank Guaranteed** **May Lose Value**

**Are Not Deposits** **Are Not Insured by Any Federal Government Agency** **Are not a condition to Any Banking Service or Activity**

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”). MLPF&S is a registered broker-dealer, registered investment adviser, **Member SIPC** and a wholly owned subsidiary of BofA Corp. Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation.

Trust, fiduciary and investment management services are provided by Bank of America, N.A., Member FDIC and wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”).

Bank of America Private Bank is a division of Bank of America, N.A.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.