Sr Quantitative Fin Analyst - Non-Registered

Sr Quantitative Fin Analyst - Non-Registered

Chicago, Illinois;Charlotte, North Carolina; Atlanta, Georgia

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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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

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Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

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 :

Leads the development of AML models to support business requirements and the enterprise's risk appetite collaborating with the Technology, Global Financial Crimes, and Model Risk Management teams

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

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

Team Overview :

Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA and EIT partner with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks. In executing its activities, GRA and EIT drive innovation, process improvement and automation.

As a part of Global Risk Analytics, Global Financial Crimes Modeling and Analytics is responsible for enterprise-wide financial crime model development and implementation, ongoing performance monitoring and optimization, data usage, and research and development utilizing advanced analytical tools and systems. The Global Financial Crimes Modeling and Analytics team is made up of nine sub-teams :

Modeling and Analytics Teams are responsible for model inventory management, model development and enhancement, model tuning and optimization, model risk management, and model analysis and incident management :

US AML Modeling and Analytics is responsible for development and maintenance of all US AML Feeder models as per acceptable model risk practices and defined performance parameters to meet firm's AML Risk Coverage, while maintaining operational viability.

Non-US AML Modeling & Analytics is responsible for development and maintenance of Non-US AML Feeder models to address the regional regulatory guidelines while meeting the bank's AML Risk Coverage. Automates suspicious activity monitoring while optimizing the effectiveness and the efficiencies of our models for the detection of potential threats.

Case Generation Modeling & Analytics is responsible for the EP model which consolidates and risk ranks alerts generated from US and Non-US AML detection models and promotes suspicious activity as cases for investigation.

Economic Sanction and Screening Modeling & Analytics is responsible for models that detect and prohibit transactions made by individuals or entities that are listed on sanctions watch lists.

Ongoing Monitoring Review, Management Information, Analysis and Below-the-Line / Threshold (BTL / BTT) Testing is responsible for periodically substantiating the ongoing fitness of financial crime models in accordance with a model's approved Ongoing Monitoring Plan ("OMP"). Ongoing Model Monitoring Reports ("OMRs") assess environmental changes, model limitations, assumptions, process verification and outcomes analysis for each model. OMRs summarize trends in key metrics and provide critical analysis of model performance with respect to metric thresholds; identify threshold breaches and document remediation plans. In addition, the ongoing monitoring process includes the inline monitoring activities performed between reporting cycles, the results of those activities, and any escalations during the period. The team is also responsible for management information design and implementation, investigations forecasting, and BTL / BTT framework design and oversight.

Engineering, Data & Analytics is responsible for model development and testing platforms, model production and delivery, model data framework, key business elements, and specialized and complex analytics.

Research and Development is responsible for future thinking concepts, innovation coordination, tools and technique assessment, artificial intelligence oversight, and vendor assessment oversight.

Program Management & Regulatory is responsible for overseeing cross-functional initiatives and providing project management support to deliver timely execution of GFCMA's book of work, strategic initiatives, and critical activities in support of regulatory and audit deliverables.

Business Management & Control is responsible for Strategy, Governance Oversight and Control, Resource Management, Process Excellence, Issue Management and COO function.

Overview of Role :

Responsible for independently conducting quantitative analytics and modeling projects.

Responsible for developing new models, analytic processes or systems approaches.

Creates documentation for all activities and works with Technology staff in design of any system to run models developed.

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

Qualifications :

Ability to work in a large, complex organization, and influence various stakeholders and partners

Self-starter; Initiates work independently, before being asked

Strong team player able to seamlessly transition between contributing individually and collaborating on team projects; Understands that individual actions may require input from manager or peers; Knows when to include others

Strong communication skills and ability to effectively communicate quantitative topics to technical and non-technical audiences

Effectively creates a compelling story using data; Able to make recommendations and articulate conclusions supported by data

Effectively presents findings, data, and conclusions to influence senior leaders

Ability to work in a highly controlled and audited environment

Effective at prioritization, and time and project management

Strong Programming skills e.g. Python, SAS, SQL, or other languages

Strong analytical and problem-solving skills

Required Education and Work Experience :

Master's degree in related field or equivalent work experience

3+ years (2+ years with a PhD) of experience in model development, statistical work, data analytics or quantitative research

5+ years of leadership and / or management experience

Shift :

1st shift (United States of America)

Hours Per Week : 40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy ("Policy") establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations. Should you be offered a role with Bank of America, your hiring manager will provide you with information on the in-office expectations associated with your role. These expectations are subject to change at any time and at the sole discretion of the Company. To the extent you have a disability or sincerely held religious belief for which you believe you need a reasonable accommodation from this requirement, you must seek an accommodation through the Bank's required accommodation request process before your first day of work.

This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.