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Senior Quantitative Finance Analyst - Prime & Clearings Analytics Team - Chicago Illinois
Company: Disability Solutions
Location: Chicago, Illinois
Posted On: 11/12/2024
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!Bank of America has an opportunity for a Senior Quantitative Finance Analyst within our Global Risk Analytics (GRA) function. 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.Overview of the TeamGlobal Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.Role Description:As a Senior Quantitative Finance Analyst within Global Markets Risk Analytics, your primary focus will be developing, maintaining and testing quantitative risk models, used by Global Markets, as well as being a project lead and directing junior team members on your team. You should expect to contribute to the three main focuses of the team:--- Process Automation: improving efficiency and reducing operational risk--- Margin and counterparty risk: developing, calibrating, and testing new and improving margin and counterparty risk models, given recent market and regulatory focus--- The team focuses on developing and testing new models/ systems so an innovative approach is key. Further, you will often be asked to bring your technical knowledge to other projects, requiring excellent collaboration and communication skills.Responsibilities:As a Senior Quantitative Finance Analyst within Global Risk, your responsibilities within the team will be to:--- Direct and develop junior quantitative analysists--- Work at the interface of Technology and Risk Quants--- Collaborate with a broad number of stakeholders across the Bank--- Produce production quality code to develop and maintain quantitative risk models--- Clearly communicate outcomes to senior stakeholders--- Improve efficiency and reduce operational risk across projects--- Take ownership of systems and changes--- Deliver in-line with the team's priorities, GRA's strategy and stakeholder's requirements.What we are looking for:--- Master's degree with a quantitative emphasis in areas such as mathematics, engineering, or computer science5+ years' experience--- Excellent programming ability in Python or similar language including good understanding of object oriented programming principles, coding standards, test driven development, etc.--- Previous job experience producing productionised code--- Prior financial experience on different asset classes and risk metrics--- Good communication skills and ability to work in a collaborative environment--- Self-motivated, and an able to run with issues--- Excellent attention to detail, curiosity and commitment to excellence.Skills that will help:--- Python programming experience at a large, multi-national bank, using platforms such as Quartz, Athena, SecDb--- Experience with large dataset tools incl. relational databases, SQL and Tableau--- Experience developing, testing or maintaining Risk models such as VaR, FRTB or CCAR--- Familiarity with pricing modelsJob 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: - 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
- 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 approachesSkills:
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