Quantitative Finance Manager

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.

Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.

One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone.

We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.

Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

Job Description :

This job is responsible for leading a team to develop or validate quantitative analytics and models for specific business units or risk types.

Job expectations include supporting business units and acting as a subject matter expert on specified quantitative modeling techniques, as well as serving as the first or second line of defense overseeing model performance, model risk, and model governance on critical model portfolios.

Responsibilities :

• Leads a quantitative team with model coverage of specified focus areas and oversees stakeholder engagement, including team effort in preparation for audit and regulatory exams
• Sets priorities related to quantitative modeling 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

Working closely with the Market Risk Methodology, Line of Business Risk Managers and Technology teams, the candidate will provide support for the implementation, testing and rollout of VaR / S-VaR market risk models.

With a good working knowledge of market data infrastructure, data flows and market risk models, the candidate will be expected to play a significant role in the business design and risk system requirements, ensuring the completeness and accuracy of all market risk models.

A good understanding of the key risk drivers at product, business and firm-wide levels is required. The ability to communicate to Line of Business Risk Managers potential risks is required.

The candidate will liaise with Line of Business Risk Managers to provide quantitative risk implications of regulatory changes, new product development etc.

and enhance market risk models to reflect changes in the business environment. The role requires a flexible approach that can deal with problems that require pragmatic solutions and innovative thinking.

Minimum Education Requirement : Master's degree in related field or equivalent work experience

Required Qualifications :

• Proactively monitor and remediate any market data issues that is used in production risk measurement and reporting.
• Ensure the completeness, validity, and accuracy of market data on a daily basis.
• Work with business data users to define the use of data within various risk systems.
• Work closely with technology to ensure the timely and accurate data processing on weekly schedule.
• Implement effective market data controls of our data processes and systems.
• Participate in user acceptance testing of data control processes.
• Work with other groups as needed, including Reporting, Back Testing, Enterprise Stress Testing and various Technology groups to ensure effective controls over market data for GBAM.

Skills :

• Business Acumen
• Critical Thinking
• Regulatory Relations
• Talent Development
• Technical Documentation
• Policies, Procedures, and Guidelines Management
• Project Management
• Risk Analytics
• Risk Management
• Stakeholder Management
• Drives Engagement
• Inclusive Leadership
• Risk Modeling
• Strategic Thinking
• Written Communications

Shift :

1st shift (United States of America)

Hours Per Week :