Bank of America
Quantitative Financial Analyst
Bank of America, Charlotte, North Carolina, United States, 28245
Overview
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. We aim to be a Great Place to Work, committed to inclusion, attracting and developing talent, supporting teammates’ wellness, recognizing performance, and making an impact in the communities we serve. Bank of America supports an in-office culture with role-specific attendance requirements and appropriate flexibility. This job is responsible for conducting auditing activities of model risk management across the company and for specific business units or control functions. Key responsibilities include leading the audit assessment of effectiveness of controls supporting the model life cycle including model governance, development, validation, on-going monitoring, and model change management. Job expectations may include the ability to influence management’s strategic direction and actions to strengthen the model risk control environment.
Responsibilities
Conducts audit assessment of effectiveness of controls supporting the model life cycle including model governance, development, validation, on-going monitoring, and model change management.
Performs review of model development analysis and ongoing model performance testing to assess the conceptual soundness of the model methodology, reasonableness of model assumptions and the completeness and accuracy of model testing.
Conducts review of the model validation analysis to assess the effectiveness of the model validation process. Assesses the completeness and reasonableness of the model assumptions, limitations and independent model testing.
Provides insightful challenges to management, identifies control deficiencies or enhancement opportunities, conducts root cause investigations, documents and reports audit findings.
Works closely with teammates from multiple internal audit teams to ensure comprehensive coverage of model uses across the lines of business or control functions.
Works closely with model stakeholders and senior management regarding communication of audit assessment outcomes.
Required Qualifications
Bachelor's Degree or above in a quantitative discipline such as Mathematics, Statistics, Finance, Economics, Engineering, or Science
5+ years of industry experience relating to financial modelling and model uses, particularly in trading models, market risk models and Counterparty Credit Risk models
Familiar with regulations and regulatory guidance on model risk management
Desired Qualifications
Master's degree or above
Prior auditing background preferred
Skills
Critical Thinking
Quantitative Development/Validation
Risk Analytics
Risk Modeling
Technical Documentation
Collaboration
Problem Solving
Risk Management
Data Modeling and Trend Analysis
Written Communications
Shift 1st shift (United States of America)
Hours Per Week 40
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Finance and Sales
Industries
Banking
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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. We aim to be a Great Place to Work, committed to inclusion, attracting and developing talent, supporting teammates’ wellness, recognizing performance, and making an impact in the communities we serve. Bank of America supports an in-office culture with role-specific attendance requirements and appropriate flexibility. This job is responsible for conducting auditing activities of model risk management across the company and for specific business units or control functions. Key responsibilities include leading the audit assessment of effectiveness of controls supporting the model life cycle including model governance, development, validation, on-going monitoring, and model change management. Job expectations may include the ability to influence management’s strategic direction and actions to strengthen the model risk control environment.
Responsibilities
Conducts audit assessment of effectiveness of controls supporting the model life cycle including model governance, development, validation, on-going monitoring, and model change management.
Performs review of model development analysis and ongoing model performance testing to assess the conceptual soundness of the model methodology, reasonableness of model assumptions and the completeness and accuracy of model testing.
Conducts review of the model validation analysis to assess the effectiveness of the model validation process. Assesses the completeness and reasonableness of the model assumptions, limitations and independent model testing.
Provides insightful challenges to management, identifies control deficiencies or enhancement opportunities, conducts root cause investigations, documents and reports audit findings.
Works closely with teammates from multiple internal audit teams to ensure comprehensive coverage of model uses across the lines of business or control functions.
Works closely with model stakeholders and senior management regarding communication of audit assessment outcomes.
Required Qualifications
Bachelor's Degree or above in a quantitative discipline such as Mathematics, Statistics, Finance, Economics, Engineering, or Science
5+ years of industry experience relating to financial modelling and model uses, particularly in trading models, market risk models and Counterparty Credit Risk models
Familiar with regulations and regulatory guidance on model risk management
Desired Qualifications
Master's degree or above
Prior auditing background preferred
Skills
Critical Thinking
Quantitative Development/Validation
Risk Analytics
Risk Modeling
Technical Documentation
Collaboration
Problem Solving
Risk Management
Data Modeling and Trend Analysis
Written Communications
Shift 1st shift (United States of America)
Hours Per Week 40
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Finance and Sales
Industries
Banking
#J-18808-Ljbffr