Senior Quantitative Financial Analyst

$125,000 - $210,000/Yr

Bank of America - Chicago, IL

Full-time - Mid Level

Chicago, IL

Credit Intermediation and Related Activities

About the position

The Senior Quantitative Financial Analyst at Bank of America is responsible for conducting quantitative analytics and complex modeling projects for specific business units or risk types. This role involves leading the development of new models, creating technical documentation, and collaborating with technology staff to design systems for model implementation. The position plays a crucial role in the Enterprise Model Risk Management (MRM) organization, which oversees model risk across the bank, ensuring compliance and effective risk management practices.

Responsibilities

• Performs end-to-end market risk stress testing including scenario design, implementation, results consolidation, and reporting.
• Leads the planning related to setting quantitative work priorities in line with the bank's overall strategy.
• Identifies continuous improvements through reviews of model development and validation tasks.
• Maintains oversight of model development and model risk management to support business requirements.
• Leads and provides guidance to influence strategic direction and identify potential risks.
• Works closely with model stakeholders and senior management regarding validation outcomes.
• Performs statistical analysis on large datasets and interprets results using qualitative and quantitative approaches.
• Collaborates with model developers and validators to perform validations.
• Reviews ongoing monitoring reports and submissions from developers.
• Performs annual model reviews.

Requirements

• Master's degree in a related field or equivalent work experience.
• Advanced degree in a technical field such as mathematics, physics, statistics, financial mathematics, quantitative finance, computer science, or engineering.
• Strong knowledge of financial, mathematical, and statistical theories and practices.
• Strong programming skills, e.g., in Python.
• Strong written and oral communication skills.
• Experience with market risk models such as VaR, IRC/CRM, or FRTB; knowledge of market risk regulations.
• Attention to detail, willingness to learn, strong work ethic, and team player.

Nice-to-haves

• 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

Benefits

• Industry-leading benefits
• Access to paid time off
• Resources and support for employees
• Discretionary incentive eligibility based on performance