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.
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
- 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
As a Quantitative Finance Analyst on the team, your main responsibilities will involve:
- Development of wholesale credit risk models including loss forecasting, commercial scorecards, behavioral score, regulatory capital models.
- Executing in-depth analysis of wholesale credit performance and financial data.
- Preparing white papers for developed models.
- Interacting with internal model risk management, addressing potential concerns, and remediating model related findings.
- Supporting post implementation activities including ongoing monitoring review and interaction with various stakeholders.
- 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.
- Helps with any 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.
- 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.
Minimum Education Requirement: Master's degree in related field or equivalent work experience
Qualifications:- Advanced (i.e. Masters or PhD) degree in Math, Economics, Statistics, Engineering, Finance, Computer Science or similar discipline
- 5+ years professional experience developing credit risk models.
- Strong Programming skills e.g. R, Python, SAS, SQL or other language
- Experience with LaTeX
- Experience using and developing cross-sectional models.
- 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.
- Demonstrated leadership skills; Ability to exert broad influence among peers.
- Ability to work in a large, complex organization, and influence various stakeholders and partners
- 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
- Ability to work in a highly controlled and audited environment
Desired Qualifications:- Experience with complex data architecture, including modeling and data science tools and libraries, data warehouses, and machine learning
- Experience implementing models into various production environments
- Ability to extract, analyze, and merge data from disparate systems, and perform deep analysis
- Experience developing and maintaining complex databases and data sets
- Experience using data mining and other advanced analytical techniques to aggregate data for model development and/or to produce management reporting.
- Experience managing large data sets utilizing tools such as Hadoop.
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
Shift:1st shift (United States of America)
Hours Per Week: 40
Pay Transparency detailsUS - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540)
Pay and benefits information
Pay range
$89,800.00 - $155,000.00 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.
