Bank of America
Sr Quantitative Finance Analyst (VP/Director) - Liquidity Model Validation
Bank of America, Charlotte, North Carolina, United States, 28245
Sr Quantitative Finance Analyst (VP/Director) - Liquidity Model Validation
Charlotte, North Carolina;Pennington, New Jersey; Atlanta, Georgia
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!
Job 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.
Enterprise Model Risk Management seeks a Senior Quantitative Finance Analyst – Liquidity Risk to conduct independent testing and review of complex models used to monitor and mitigate liquidity and funding risks in the Bank. Responsible for compliance with Enhanced Prudential Standards and other regulatory guidelines, the candidate will work on models related to both banking and trading businesses of Bank of America. The candidate should exhibit familiarity with industry practices and have up-to-date knowledge of liquidity risk management. The candidate should be able to provide both thought leadership and hands-on expertise in methodology, techniques, and processes in applying mathematical approaches to manage the bank’s liquidity risk models and model systems.
Responsibilities:
Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.
Perform independent review of the liquidity risk management processes and models to identify risks which the LOB is exposed to, implementing measures to prevent and mitigate losses, and monitoring risk outcomes
Conducting governance activities such as model identification, model approval and breach remediation reviews.
Providing hands-on leadership for projects pertaining to liquidity risk modeling approaches to effectively challenge and influence the strategic direction and tactical approaches of these projects.
Communicating and working directly with relevant modeling teams and their corresponding Front Line Units; communicating and interacting with the third line of defense (e.g., internal audit) as well as external regulators, as needed.
Writing technical reports for distribution and presentation to model developers, senior management, audit, and banking regulators.
Acts as a senior level resource or resident expert on analytic/quantitative modeling techniques used for liquidity risk management.
Liaison with businesses to understand market trends and impacts on portfolio, using knowledge of liquidity risk management, and its applicability to various business lines and products,
Ensure adherence to the regulations as well as policies and procedures established by the company,
Manage risk requests, breach remediations and providing risk effective challenges for front line units,
Develop risk analyses and high-quality reports which are shared Senior management and regulators.
Minimum Education Requirement: Master’s degree in related field or equivalent work experience
Required Qualifications:
Masters in finance or economics with demonstrated quantitative skills.
Experience in working large banking institutions preferred.
FRM and CFA certifications preferred.
Knowledge and 5+ years of experience in building and understanding of liquidity risk management models.
Strong familiarity with the industry practices in the field and knowledge of up-to-date liquidity risk management.
Proven leadership abilities.
Excellent written and oral communication skills with stakeholders of varying analytic skill and knowledge levels.
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
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 and affirmative action, 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 "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .
To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.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.
To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .
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.
Charlotte, North Carolina;Pennington, New Jersey; Atlanta, Georgia
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!
Job 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.
Enterprise Model Risk Management seeks a Senior Quantitative Finance Analyst – Liquidity Risk to conduct independent testing and review of complex models used to monitor and mitigate liquidity and funding risks in the Bank. Responsible for compliance with Enhanced Prudential Standards and other regulatory guidelines, the candidate will work on models related to both banking and trading businesses of Bank of America. The candidate should exhibit familiarity with industry practices and have up-to-date knowledge of liquidity risk management. The candidate should be able to provide both thought leadership and hands-on expertise in methodology, techniques, and processes in applying mathematical approaches to manage the bank’s liquidity risk models and model systems.
Responsibilities:
Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.
Perform independent review of the liquidity risk management processes and models to identify risks which the LOB is exposed to, implementing measures to prevent and mitigate losses, and monitoring risk outcomes
Conducting governance activities such as model identification, model approval and breach remediation reviews.
Providing hands-on leadership for projects pertaining to liquidity risk modeling approaches to effectively challenge and influence the strategic direction and tactical approaches of these projects.
Communicating and working directly with relevant modeling teams and their corresponding Front Line Units; communicating and interacting with the third line of defense (e.g., internal audit) as well as external regulators, as needed.
Writing technical reports for distribution and presentation to model developers, senior management, audit, and banking regulators.
Acts as a senior level resource or resident expert on analytic/quantitative modeling techniques used for liquidity risk management.
Liaison with businesses to understand market trends and impacts on portfolio, using knowledge of liquidity risk management, and its applicability to various business lines and products,
Ensure adherence to the regulations as well as policies and procedures established by the company,
Manage risk requests, breach remediations and providing risk effective challenges for front line units,
Develop risk analyses and high-quality reports which are shared Senior management and regulators.
Minimum Education Requirement: Master’s degree in related field or equivalent work experience
Required Qualifications:
Masters in finance or economics with demonstrated quantitative skills.
Experience in working large banking institutions preferred.
FRM and CFA certifications preferred.
Knowledge and 5+ years of experience in building and understanding of liquidity risk management models.
Strong familiarity with the industry practices in the field and knowledge of up-to-date liquidity risk management.
Proven leadership abilities.
Excellent written and oral communication skills with stakeholders of varying analytic skill and knowledge levels.
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
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 and affirmative action, 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 "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .
To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP_EEO_Supplement_Final_JRF_QA_508c.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.
To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .
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.