Bank of America
Sr. Quantitative Finance Analyst, AML Model Risk Validation
Bank of America - Pennington, New Jersey, us, 08534
Work at Bank of America
Overview
- View job
Overview
Join to apply for the
Sr. Quantitative Finance Analyst, AML Model Risk Validation
role at
Bank of America 1 week ago Be among the first 25 applicants Join to apply for the
Sr. Quantitative Finance Analyst, AML Model Risk Validation
role at
Bank of America This range is provided by Bank of America. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more. Base pay range $125,000.00/yr - $210,000.00/yr Job Description:
Apply promptly! A high volume of applicants is expected for the role as detailed below, do not wait to send your CV.
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 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. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.
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
Minimum Education Requirement:
Strong and diversified quantitative skills, possess an advanced degree (PhD or Masters) in a quantitative field such as Mathematics, Physics, Finance, Economics, Engineering, Computer Science, Statistics, or related fields.
Required Qualifications:
2+ years of experience and knowledge in building and understanding of Anti-Money Laundering models and systems. Strong familiarity and up-to-date knowledge with industry practices in the field Anti-Money Laundering techniques and typologies. Domain knowledge and familiarity with regulatory landscape including but not limited to model risk management, Anti-money laundering. Proficiency with Above-the Line and Below- the-Line (ATL/BTL) techniques, Sampling methods, AML Coverage Assessments is a plus. Prior experience in model development and/or model validation is a plus. Advanced knowledge and working experience in statistical methods, techniques, and financial data. Proficient in Python, SAS and SQL. Strong written and verbal communication skills and collaboration skills (this role involves communicating with various groups within the firm). Critical thinking and ability to work independently and proactively identify, debate, escalate, suggest, and resolve issues. CAMS certification (preferred)
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
Preferred Technical Skills:
Line of Business (LoB) Products, Services & Acumen Financial Crimes Risk Programs Credible Challenge Regulatory Knowledge Technical Documentation AML Technical Modelling Technical Modelling Financial Crimes Compliance Risk Principles Model Translation & Articulation Model Validation & Governance
Shift:
1st shift (United States of America)
Hours Per Week:
40Seniority level
Seniority levelMid-Senior level Employment type
Employment typeFull-time Job function
Job functionFinance and Sales IndustriesBanking Referrals increase your chances of interviewing at Bank of America by 2x Get notified about new Senior Financial Analyst jobs in
Pennington, NJ . New Jersey, United States $120,000 - $170,000 4 days ago Senior Manager, US CV/IMM Commercial FinanceSenior Financial Analyst, Supply Chain OperationsFinancial Planning and Analysis Project Support / AnalystSenior Financial Analyst, LexisNexis IP**Hybrid Horsham, PA New Jersey, United States $114,000.00 - $143,000.00 2 weeks ago Senior Finance Analyst – Business Support (The Investment, Trust & Workplace Benefits Reporting, Analysis & Forecasting Team) Pennington, NJ $60,100.00 - $120,000.00 1 week ago Bridgewater, NJ $115,000.00 - $130,000.00 2 weeks ago Senior Analyst, Consolidations and Financial Reporting Bridgewater, NJ $83,610.00 - $127,700.00 3 days ago Trenton, NJ $100,000.00 - $140,000.00 2 days ago Senior Manager, Finance Business Partner & Strategic Initiatives New Brunswick, NJ $100,000.00 - $172,500.00 1 week ago Senior Finance Manager FP&A/Mgmt. Accounting – FIFA World Cup 26 New Jersey, United States $97,500.00 - $130,000.00 2 weeks ago Finance Manager - Business Support (Card & Small Business Valuation, Analytics and Reporting team) Pennington, NJ $118,000.00 - $168,000.00 1 week ago New Brunswick, NJ $100,000.00 - $172,500.00 1 week ago Senior Analyst/Manager, Commercial Analytics & Forecasting Princeton, NJ $97,000.00 - $121,400.00 6 days ago Finance/Business Manager - Stars and Stripes Harley-Davidson Trevose, PA $90,000.00 - $100,000.00 1 day ago Senior Accountant - Outsourced Accounting and CFO ServicesAccounting Advisory (Associate, Senior Associate, and Manager)Internal Controls Analyst Senior - Remote Trenton, NJ $81,000.00 - $138,000.00 7 hours ago Accounting Advisory (Associate, Senior Associate, and Manager) New Jersey New Jersey, United States $87,000 - $142,000 1 week ago Finance Manager - US Pensions/Risk Solutions Bridgewater, NJ $105,200 - $125,000 2 weeks ago Accounting Advisory (Associate, Senior Associate, and Manager) New Jersey, United States $87,000 - $142,000 1 week ago Somerset, NJ $66,063 - $86,706 2 weeks ago Princeton, NJ $70,000 - $80,000 1 month ago Bucks County, PA $180,000 - $200,000 2 days ago We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.
#J-18808-Ljbffr
Sr. Quantitative Finance Analyst, AML Model Risk Validation
role at
Bank of America 1 week ago Be among the first 25 applicants Join to apply for the
Sr. Quantitative Finance Analyst, AML Model Risk Validation
role at
Bank of America This range is provided by Bank of America. Your actual pay will be based on your skills and experience — talk with your recruiter to learn more. Base pay range $125,000.00/yr - $210,000.00/yr Job Description:
Apply promptly! A high volume of applicants is expected for the role as detailed below, do not wait to send your CV.
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 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. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.
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
Minimum Education Requirement:
Strong and diversified quantitative skills, possess an advanced degree (PhD or Masters) in a quantitative field such as Mathematics, Physics, Finance, Economics, Engineering, Computer Science, Statistics, or related fields.
Required Qualifications:
2+ years of experience and knowledge in building and understanding of Anti-Money Laundering models and systems. Strong familiarity and up-to-date knowledge with industry practices in the field Anti-Money Laundering techniques and typologies. Domain knowledge and familiarity with regulatory landscape including but not limited to model risk management, Anti-money laundering. Proficiency with Above-the Line and Below- the-Line (ATL/BTL) techniques, Sampling methods, AML Coverage Assessments is a plus. Prior experience in model development and/or model validation is a plus. Advanced knowledge and working experience in statistical methods, techniques, and financial data. Proficient in Python, SAS and SQL. Strong written and verbal communication skills and collaboration skills (this role involves communicating with various groups within the firm). Critical thinking and ability to work independently and proactively identify, debate, escalate, suggest, and resolve issues. CAMS certification (preferred)
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
Preferred Technical Skills:
Line of Business (LoB) Products, Services & Acumen Financial Crimes Risk Programs Credible Challenge Regulatory Knowledge Technical Documentation AML Technical Modelling Technical Modelling Financial Crimes Compliance Risk Principles Model Translation & Articulation Model Validation & Governance
Shift:
1st shift (United States of America)
Hours Per Week:
40Seniority level
Seniority levelMid-Senior level Employment type
Employment typeFull-time Job function
Job functionFinance and Sales IndustriesBanking Referrals increase your chances of interviewing at Bank of America by 2x Get notified about new Senior Financial Analyst jobs in
Pennington, NJ . New Jersey, United States $120,000 - $170,000 4 days ago Senior Manager, US CV/IMM Commercial FinanceSenior Financial Analyst, Supply Chain OperationsFinancial Planning and Analysis Project Support / AnalystSenior Financial Analyst, LexisNexis IP**Hybrid Horsham, PA New Jersey, United States $114,000.00 - $143,000.00 2 weeks ago Senior Finance Analyst – Business Support (The Investment, Trust & Workplace Benefits Reporting, Analysis & Forecasting Team) Pennington, NJ $60,100.00 - $120,000.00 1 week ago Bridgewater, NJ $115,000.00 - $130,000.00 2 weeks ago Senior Analyst, Consolidations and Financial Reporting Bridgewater, NJ $83,610.00 - $127,700.00 3 days ago Trenton, NJ $100,000.00 - $140,000.00 2 days ago Senior Manager, Finance Business Partner & Strategic Initiatives New Brunswick, NJ $100,000.00 - $172,500.00 1 week ago Senior Finance Manager FP&A/Mgmt. Accounting – FIFA World Cup 26 New Jersey, United States $97,500.00 - $130,000.00 2 weeks ago Finance Manager - Business Support (Card & Small Business Valuation, Analytics and Reporting team) Pennington, NJ $118,000.00 - $168,000.00 1 week ago New Brunswick, NJ $100,000.00 - $172,500.00 1 week ago Senior Analyst/Manager, Commercial Analytics & Forecasting Princeton, NJ $97,000.00 - $121,400.00 6 days ago Finance/Business Manager - Stars and Stripes Harley-Davidson Trevose, PA $90,000.00 - $100,000.00 1 day ago Senior Accountant - Outsourced Accounting and CFO ServicesAccounting Advisory (Associate, Senior Associate, and Manager)Internal Controls Analyst Senior - Remote Trenton, NJ $81,000.00 - $138,000.00 7 hours ago Accounting Advisory (Associate, Senior Associate, and Manager) New Jersey New Jersey, United States $87,000 - $142,000 1 week ago Finance Manager - US Pensions/Risk Solutions Bridgewater, NJ $105,200 - $125,000 2 weeks ago Accounting Advisory (Associate, Senior Associate, and Manager) New Jersey, United States $87,000 - $142,000 1 week ago Somerset, NJ $66,063 - $86,706 2 weeks ago Princeton, NJ $70,000 - $80,000 1 month ago Bucks County, PA $180,000 - $200,000 2 days ago We’re unlocking community knowledge in a new way. Experts add insights directly into each article, started with the help of AI.
#J-18808-Ljbffr