Quant Finance Analyst - Senior Industry Analyst

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.

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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!

Quant Finance Analyst - Senior Industry Analyst

Overview of Global Risk Analytics

Bank of America Merrill Lynch has an opportunity for a Quantitative Finance Analyst within our Global Risk Analytics (GRA) function.

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.

GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard.

GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks.

In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring.

GRA drives innovation, process improvement and automation across all of these activities.

• Industry Research & Analytics is part of the Scenario & Enterprise Risk Analytics Team : This team monitors fundamental trends shaping the outlook for industry sectors;
• identifies key current and long-term trends impacting sectors; assesses how these may impact counterparty financials; implications for industry level output and employment;

offers potential considerations for how industry level insights could inform model development process and the interpretation of model results.

Job Description

QFA - Senior Industry Analyst :

Seeking a candidate to cover key Industry sectors from a fundamental perspective opining on key industry trends and how these may influence the firm. This could include :

• Identifying key issues affecting companies within an industry and carrying out analysis to assess the potential impact
• Sourcing data from partners outside the team to support conclusions (economists, analytics teams, equity and credit researchers)
• Opining on short- and long-term outlook for output and employment in the industry sector.

This job requires initiative and independent judgment to identify the key drivers of an industry segment (and how they may be changing and evolving) and applying both quantitative and qualitative analysis.

Core responsibilities will include :

• Identifying key industry themes that are worthy of further investigation and working with Credit Analysts, Research Analysts, Economists, and industry thought leaders to develop them.
• Relating these themes to the Bank's credit exposure and modelling approaches (e.g. CCAR, CECL), where applicable.
• Seeking out new, value-added, and / or unusual sources of information
• Leveraging robust internal bank data sets
• Identifying high frequency data sets to augment forecasts

Required Education, Skills, and Experience

Bachelor's degree in Finance, Accounting, Economics, Business, or related field. Alternatively, a bachelor's degree in a technical field (i.

e. : engineering, computer science, mathematics, statistics, etc.) and a demonstrated interest in finance and markets.

• Masters in one of the subjects a plus.
• At least 3+ years of experience
• Progress toward (or completion of) CFA a plus.
• Ability to identify key industry drivers, excellent quantitative skills, and judgment in the field of research. Prior experience in a research-orientated role (e.

g., Equity, Credit) is a plus.

• The candidate must be able to thrive in a fast-paced and intense environment, be intellectually curious about drivers of the economy, industry & company performance and consumer behavior
• Strong economic and financial skills and a keen interest in markets, some experience in investment strategy is a plus
• Strong writing and spreadsheet skills
• Must be an expert in MS Excel, experience working with statistical packages and / or programming experience preferred
• Must have excellent communication skills, written and verbal
• Must have strong attention to detail, ability to multi-task
• Must work well in a collaborative team environment and be exceptionally driven

Desired Skills and Experience

• Some knowledge of Tableau, SQL, Python.
• Good understanding of current US regulatory environment, including but not limited to CECL and CCAR
• Macro Economics

General Job Description :

This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types.

Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed.

Job expectations include having a broad knowledge of financial markets and products.

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
• Supports 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
• Supports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
• Supports the 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

Shift :

1st shift (United States of America)

Hours Per Week :