Quantitative Finance Analyst at Bank of America in Atlanta, GA

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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.

We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.

Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.

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.

Enterprise Model Risk Management is seeking a Quantitative Finance Analyst to conduct independent model validation, independent testing and review of complex models used to monitor and mitigate money laundering risk. The ideal candidate should be familiar with industry practices and have knowledge of up-to-date AML techniques. The candidate should also be able to provide hands-on expertise in methodology, techniques, and processes in applying statistical and machine learning methods to manage the bank’s AML models and model systems.

The qualified candidate will be responsible for a broad range of model validation activities, including:

• Review, critical assessment, and challenge of models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation, and documentation. Development and implementation of effective testing plans and testing code to critically challenge models through empirical analyses and to verify model implementation.
• Performing model review activities including but not limited to independent model validation/challenge, annual model review, ongoing monitoring report review, required action item review, and peer review.
• Conducting governance activities such as model identification, model approval and breach remediation reviews to manage model risk.
• Communicating and working directly with relevant modeling teams and their corresponding Front Line Units; and if needed, communicating, and interacting with the third line of defense (e.g., internal audit) as well as external regulators.
• Writing technical reports for distribution and presentation to model developers, senior management, audit, and banking regulators
• Acts as a subject matter expert on analytic/quantitative modeling techniques used for Anti-money laundering.

Required Skills & Experience

• Master's degree or equivalent in Economics, Statistics, Finance, or related: and
• 2+ years of experience in the job offered or a related Quantitative occupation.
• Utilizing current modeling and data science principals including time-series analysis, machine learning and deep learning to validate financial crime detection models;
• Applying statistical techniques to analyze trends and uncover risks and opportunities relative to anti-money laundering detection;
• Supporting independent model validation and regulation exam activities in accordance with internal policies and U.S. Federal Reserve regulations;
• Evaluating quantitative modelling and analytics projects through risk analytics; and,
• Providing governance oversight for several financial crime detection models for model risk management.

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

Minimum Education Requirement: Master’s degree in related field or equivalent work experience

Shift:

1st shift (United States of America)

Hours Per Week: 

40