Bank of America
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.
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.
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.
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. The role within the Model and Testing Standards Oversight (MTSO) team will support the development and oversight of processes, standards, and controls across the model lifecycle in which Global Risk Analytics (GRA) / Enterprise Independent Testing (EIT) models are executed. Responsibilities:
Development and oversight of model management processes and standards, including model development, performance monitoring, implementation, and usage. Perform critical analysis and assess feedback from model development groups on processes, controls, and metrics design/optimization across model lifecycle. Assess impact from changes to Enterprise and Regulatory requirements, lead implementation of changes to processes and provide ad-hoc consultancy and resolution of process enquiries. Support the development of corresponding workflow infrastructure / technology for model related processes. Project manage change initiatives, defining discrete actions, timelines, and tracking to completion. Enhancing ongoing monitoring and related risk management capabilities. Support model-related regulatory engagements and the compilation of regulatory materials. Participate in Quality Control routines across model lifecycle, analyze results and provide feedback, formulate actions and identify process improvements. Provide support on an ad-hoc basis to other non-model related horizontal MTSO team initiatives. Required Skills And Experience: Minimum 4 years’ experience in the financial services industry, strong knowledge/experience in model risk management practices/related regulatory requirements, degree in a relevant quantitative discipline, good analytical and quantitative capabilities, highly organized and able to execute multiple priorities, strong oral and written communication skills, ability to develop strong working relationships with teammates as well as senior management. Overview Of Global Risk Analytics And Enterprise Independent Testing
Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM). 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. Enterprise Independent Testing (EIT) is the centralized, independent testing function within GRM focused on operating as an enterprise utility to test processes and controls that require testing across the company. Overview Of Model And Testing Standards And Oversight
The Model and Testing Standards and Oversight (MTSO) team provides standards and oversight for Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) that ensure GRA and EIT operate effectively and efficiently, and output is delivered to a high standard and within a robust governance framework. Bank of America is an equal opportunities employer.
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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. The role within the Model and Testing Standards Oversight (MTSO) team will support the development and oversight of processes, standards, and controls across the model lifecycle in which Global Risk Analytics (GRA) / Enterprise Independent Testing (EIT) models are executed. Responsibilities:
Development and oversight of model management processes and standards, including model development, performance monitoring, implementation, and usage. Perform critical analysis and assess feedback from model development groups on processes, controls, and metrics design/optimization across model lifecycle. Assess impact from changes to Enterprise and Regulatory requirements, lead implementation of changes to processes and provide ad-hoc consultancy and resolution of process enquiries. Support the development of corresponding workflow infrastructure / technology for model related processes. Project manage change initiatives, defining discrete actions, timelines, and tracking to completion. Enhancing ongoing monitoring and related risk management capabilities. Support model-related regulatory engagements and the compilation of regulatory materials. Participate in Quality Control routines across model lifecycle, analyze results and provide feedback, formulate actions and identify process improvements. Provide support on an ad-hoc basis to other non-model related horizontal MTSO team initiatives. Required Skills And Experience: Minimum 4 years’ experience in the financial services industry, strong knowledge/experience in model risk management practices/related regulatory requirements, degree in a relevant quantitative discipline, good analytical and quantitative capabilities, highly organized and able to execute multiple priorities, strong oral and written communication skills, ability to develop strong working relationships with teammates as well as senior management. Overview Of Global Risk Analytics And Enterprise Independent Testing
Global Risk Analytics (GRA) is a sub-line of business within Global Risk Management (GRM). 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. Enterprise Independent Testing (EIT) is the centralized, independent testing function within GRM focused on operating as an enterprise utility to test processes and controls that require testing across the company. Overview Of Model And Testing Standards And Oversight
The Model and Testing Standards and Oversight (MTSO) team provides standards and oversight for Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) that ensure GRA and EIT operate effectively and efficiently, and output is delivered to a high standard and within a robust governance framework. Bank of America is an equal opportunities employer.
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