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Quantitative Finance Analyst -Non - Registered

Charlotte, North Carolina;Chicago, Illinois

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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.

Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

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 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.

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.

**1) 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.

**2) 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.

**3) 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.

**4) 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.

**5) 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.

**6) 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.

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

**8) 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.

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

Overview of Role Responsibilities:

+ Responsible for performing more complex analysis and supporting development of AML model development.

+ Other additional responsibilities Include:Support AML Modeling with Ad-hoc Analytics, Distribution Analysis, Sensitivity Analysis

+ Support GFC with additional data analytics for drafting Business Requirement Document

+ Lead analytical support for various interim compensating control initiatives

+ Conduct and support below-the-threshold sampling

+ 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.

+ 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

Minimum Education and Qualification Requirements:

+ Master's degree or relevant experience

+ 3+ years of model/quantitative development experience

+ Written Communications

+ Effectively creates a compelling story using data

+ Able to make recommendations and articulate conclusions supported by data

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

+ CoPilot experience is a plus

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.

To view the "Know your Rights" poster, CLICK HERE (https://www.eeoc.gov/sites/default/files/2023-06/22-088\_EEOC\_KnowYourRights6.12.pdf) .

View the LA County Fair Chance Ordinance (https://dcba.lacounty.gov/wp-content/uploads/2024/08/FCOE-Official-Notice-Eng-Final-8.30.2024.pdf) .

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.