Aitopics
Quantitative Finance Analyst - Consumer Loss Forecasting (CLF) Team
Aitopics, Newark, New Jersey, us, 07175
Quantitative Finance Analyst - Consumer Loss Forecasting (CLF) Team
Bank of AmericaWhat would you like the power to do? For you and your family, your business and your community. At Bank of America, our purpose is to help make financial lives better through the power of every connection.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.Overview of Global Risk AnalyticsBank of America Merrill Lynch has an opportunity for a Quantitative Finance Analyst (B5) within our Global Risk Analytics (GRA) function. GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management, and reporting across Bank of America.Overview of the RoleThe Quantitative Financial Analyst interacts with a wide variety of stakeholders including risk managers, model developers, operations, technology, finance, and capital. The Analyst will identify, lead, and organize strategic change efforts across the team including new model deployment and analytical capability development.As a Quantitative Finance Analyst within Global Risk Analytics, your main responsibilities will involve:Applying quantitative methods to develop capabilities that meet line of business, risk management and regulatory requirementsMaintaining and continuously enhancing capabilities over time to respond to the changing nature of portfolios, economic conditions and emerging risksUnderstanding and executing activities that form the end-to-end model development and use life cycleIdentifying requirements from the teams which improve the group’s ability to generate insights and understanding of portfolio risk, model accuracy, and forecast reasonabilityClearly documenting and effectively communicating quantitative methods as part of ongoing engagement with key stakeholdersPosition OverviewThe Consumer Loss Forecasting (CLF) team is part of Global Risk Analytics (GRA). CLF provides analytical insights and loss forecasts, enabling improved Credit Risk management. This position will primarily focus on the Small Business Card (SBC) portfolio from a loss forecast administration, analytics, enablement, and control standpoint.SBC Forecast Administration includes:Identifying needs and requirements for each loss submission cycle, inclusive of economic scenarios, forecast attributions, and sensitivitiesAssessing loss model historical back-testing by component to facilitate recommended forecast adjustmentsCreate and lead executive-level forecast and analytics content for Loan Loss Working Group meetingAnalytical capability development includes:Identifying needs and requirements from the CLF team which improve the group’s ability to generate insights and understanding of portfolio risk, model accuracy, and forecast reasonabilityIdentifying new topics for analytical inquiryOrganizing across teams to ensure need fulfillmentRequired and Desired Candidate QualificationsRequired Skills:Bachelor’s degree in quantitative discipline (e.g. Mathematics, Economics, Engineering, Finance, Physics)2+ years of experience in model development, statistical work, data analytics or quantitative researchExperience in Risk, Credit, Collections or Financial OperationsStrong business and financial acumenAttention to detail coupled with ability to simplify the complexExperience in data science and analysis, with excellent analytical skillsStrategic thinker that can understand complex business challenges and potential solutionsDemonstrated ability to organize and work collaboratively across multiple teams and functionsStrong written/oral communication skillsProficiency with Tableau, MS Excel, and PowerPointDesired Skills:Consumer behavior analytics or risk modeling in a financial institutionProgramming skills (SQL, Python, R, LaTeX)Experience with DFAST / CCARJob 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.Responsibilities:Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reportingSupports model development and model risk management in respective focus areasWorks closely with model stakeholders and senior management regarding communication of submission and validation outcomesPerforms statistical analysis on large datasets and interprets results using both qualitative and quantitative approachesMinimum Education Requirement: Bachelor’s degree in related field or equivalent work experience.
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Bank of AmericaWhat would you like the power to do? For you and your family, your business and your community. At Bank of America, our purpose is to help make financial lives better through the power of every connection.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.Overview of Global Risk AnalyticsBank of America Merrill Lynch has an opportunity for a Quantitative Finance Analyst (B5) within our Global Risk Analytics (GRA) function. GRA is responsible for developing a consistent and coherent set of models and analytical tools for effective risk and capital measurement, management, and reporting across Bank of America.Overview of the RoleThe Quantitative Financial Analyst interacts with a wide variety of stakeholders including risk managers, model developers, operations, technology, finance, and capital. The Analyst will identify, lead, and organize strategic change efforts across the team including new model deployment and analytical capability development.As a Quantitative Finance Analyst within Global Risk Analytics, your main responsibilities will involve:Applying quantitative methods to develop capabilities that meet line of business, risk management and regulatory requirementsMaintaining and continuously enhancing capabilities over time to respond to the changing nature of portfolios, economic conditions and emerging risksUnderstanding and executing activities that form the end-to-end model development and use life cycleIdentifying requirements from the teams which improve the group’s ability to generate insights and understanding of portfolio risk, model accuracy, and forecast reasonabilityClearly documenting and effectively communicating quantitative methods as part of ongoing engagement with key stakeholdersPosition OverviewThe Consumer Loss Forecasting (CLF) team is part of Global Risk Analytics (GRA). CLF provides analytical insights and loss forecasts, enabling improved Credit Risk management. This position will primarily focus on the Small Business Card (SBC) portfolio from a loss forecast administration, analytics, enablement, and control standpoint.SBC Forecast Administration includes:Identifying needs and requirements for each loss submission cycle, inclusive of economic scenarios, forecast attributions, and sensitivitiesAssessing loss model historical back-testing by component to facilitate recommended forecast adjustmentsCreate and lead executive-level forecast and analytics content for Loan Loss Working Group meetingAnalytical capability development includes:Identifying needs and requirements from the CLF team which improve the group’s ability to generate insights and understanding of portfolio risk, model accuracy, and forecast reasonabilityIdentifying new topics for analytical inquiryOrganizing across teams to ensure need fulfillmentRequired and Desired Candidate QualificationsRequired Skills:Bachelor’s degree in quantitative discipline (e.g. Mathematics, Economics, Engineering, Finance, Physics)2+ years of experience in model development, statistical work, data analytics or quantitative researchExperience in Risk, Credit, Collections or Financial OperationsStrong business and financial acumenAttention to detail coupled with ability to simplify the complexExperience in data science and analysis, with excellent analytical skillsStrategic thinker that can understand complex business challenges and potential solutionsDemonstrated ability to organize and work collaboratively across multiple teams and functionsStrong written/oral communication skillsProficiency with Tableau, MS Excel, and PowerPointDesired Skills:Consumer behavior analytics or risk modeling in a financial institutionProgramming skills (SQL, Python, R, LaTeX)Experience with DFAST / CCARJob 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.Responsibilities:Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reportingSupports model development and model risk management in respective focus areasWorks closely with model stakeholders and senior management regarding communication of submission and validation outcomesPerforms statistical analysis on large datasets and interprets results using both qualitative and quantitative approachesMinimum Education Requirement: Bachelor’s degree in related field or equivalent work experience.
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