Description

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!

Responsibilities

• Apply quantitative methods to develop new granular capabilities that meet risk management, line of business, and regulatory requirements.
• Articulate the overall holistic picture of model performance, with clear conclusions regarding accuracy and remediation areas as required.
• Identify and apply new statistical and econometric techniques to support enhanced granularity of risk management capabilities via elevated intellectual curiosity with an acute sense of innovation.
• Articulate clearly to senior stakeholders quantitative solutions that are designed to drive the business forward by addressing critical business problems.
• Communicate model results to model stakeholders, including risk management, model development, model risk, senior management, and regulators.
• Perform in-depth analysis on the Bank's risk model results using various quantitative tools such as back testing, benchmarking, and sensitivity analysis.
• Develop and analyze statistical models such as linear regression, auto regression, or logistic regression to assess model diagnostics and model performance.
• Generate statistical analysis to support stress testing, credit risk management, and regulatory examinations.
• Create model documentation describing model development and testing to enable independent model validation.
• Conduct quantitative analysis on inputs and outputs for econometric models used in stress-testing.

Required Skills & Experience

• Master's degree or equivalent in Finance, Statistics, Mathematics, Applied Statistics, or related: and
• 2 years of experience in the job offered or a related Quantitative occupation.
• Must include 2 years of experience in each of the following:
• Analyzing and evaluating large and complex economic and financial datasets with analytical tools of Python, SQL and R;
• Using big data technologies of SQL to handle large volumes of data produced by complex financial forecasting models;
• Performing quantitative modeling by utilizing advanced quantitative techniques and tools of statistical analysis, predictive modeling, linear regressions, and Machine Learning;
• Utilizing Python and SQL to conduct data analysis, estimate model coefficients, and aggregate the model results to generate comprehensive model outputs; and,
• Producing technical reports of publication quality with academic rigor and comprehensive risk coverage to support internal reviews and assess with stakeholders.

If interested apply online at www.bankofamerica.com/careers or email your resume to bofajobs@bofa.com and reference the job title of the role and requisition number.

EMPLOYER: Bank of America N.A.

Shift:
1st shift (United States of America)

Hours Per Week:
40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525)

Pay and benefits information

Pay range

$142,000.00 - $153,300.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.