Sr Quantitative Finance Manager

$200,000 - $310,700/Yr

Bank of America - Jersey City, NJ

Full-time - Senior

Jersey City, NJ

Credit Intermediation and Related Activities

About the position

The Sr Quantitative Finance Manager at Bank of America is responsible for overseeing the independent validation and quantitative analytics of wholesale models used for credit allowance, enterprise stress testing, valuation, and regulatory capital purposes. This role involves providing risk oversight, managing a global team of model validators, and ensuring compliance with US and international regulations. The position requires strong leadership, analytical skills, and the ability to communicate effectively with various stakeholders.

Responsibilities

• Oversee a broad range of model risk management activities.
• Review and critically assess wholesale models for soundness, assumptions, and limitations.
• Develop and implement effective testing plans and testing code for models.
• Perform independent model validation and annual model reviews.
• Conduct governance activities including model identification and approval.
• Write technical reports for distribution to stakeholders and regulators.
• Identify emerging model risks and ensure they are evaluated and mitigated.
• Communicate with modeling teams and manage risk routines.
• Lead communication with internal audit and external regulators.
• Manage a diverse global team of quantitative analysts and develop talent.

Requirements

• PhD or Masters in a quantitative field such as Mathematics, Physics, Finance/Economics, Computer Science, Statistics.
• Advanced knowledge of statistical and machine learning methods.
• Fluency in Python, SAS, and SQL.
• Experience in developing or validating wholesale models.
• Minimum of 7-10 years of experience in wholesale risk modeling.
• Minimum of 5 years' experience in leading a team of quantitative analysts.
• Experience with leading external regulator interactions.
• Excellent written and oral communication skills.
• Strong financial services and risk management experience.
• Strong analytical and problem-solving skills.

Nice-to-haves

• Technical curiosity and interest in learning new skills.
• Inquisitive nature and ability to ask the right questions.

Benefits

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