Bank of America
Quantitative Financial Analyst
Bank of America, Charlotte, North Carolina, United States, 28245
About 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, including our commitment to being an 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 allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Key Responsibilities This job is responsible for conducting auditing activities of model risk management across the company and for specific business units or control functions. Job expectations may include the ability to influence management's strategic direction and actions to strengthen the model risk control environment.
Responsibilities
Conduct audit assessment of effectiveness of controls supporting the model life cycle including model governance, development, validation, on-going monitoring, and model change management.
Perform review of model development analysis and on-going model performance testing to assess the conceptual soundness of the model methodology, reasonableness of the model assumptions and the completeness and accuracy of the model testing.
Conduct review the model validation analysis to assess the effectiveness of the model validation process. Assess the completeness and reasonableness of the model assumptions, limitations and independent model testing.
Provide insightful challenges to management, identify control deficiencies or enhancement opportunities, conduct root cause investigation, document and report audit findings.
Work closely with teammates from multiple internal audit teams to ensure comprehensive coverage of model uses across the various lines of business of control functions.
Work closely with model stakeholders and senior management with regard to 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
Pay and benefits information US - NJ - Pennington - 1500 American Blvd - Hopewell Bldg 5 (NJ2150), US - NY - New York - 114 W 47TH ST (NY8114)
Pay range: $85,000.00 - $130,000.00 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.
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Key Responsibilities This job is responsible for conducting auditing activities of model risk management across the company and for specific business units or control functions. Job expectations may include the ability to influence management's strategic direction and actions to strengthen the model risk control environment.
Responsibilities
Conduct audit assessment of effectiveness of controls supporting the model life cycle including model governance, development, validation, on-going monitoring, and model change management.
Perform review of model development analysis and on-going model performance testing to assess the conceptual soundness of the model methodology, reasonableness of the model assumptions and the completeness and accuracy of the model testing.
Conduct review the model validation analysis to assess the effectiveness of the model validation process. Assess the completeness and reasonableness of the model assumptions, limitations and independent model testing.
Provide insightful challenges to management, identify control deficiencies or enhancement opportunities, conduct root cause investigation, document and report audit findings.
Work closely with teammates from multiple internal audit teams to ensure comprehensive coverage of model uses across the various lines of business of control functions.
Work closely with model stakeholders and senior management with regard to 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
Pay and benefits information US - NJ - Pennington - 1500 American Blvd - Hopewell Bldg 5 (NJ2150), US - NY - New York - 114 W 47TH ST (NY8114)
Pay range: $85,000.00 - $130,000.00 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.
#J-18808-Ljbffr