Assistant Vice President; Quantitative Finance Analyst at Bank of America

Jersey City, New Jersey, United States -

Full Time

Start Date

Immediate

Expiry Date

26 Mar, 26

Salary

153300.0

Posted On

26 Dec, 25

Experience

2 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Quantitative Methods, Risk Management, Statistical Analysis, Python, SQL, R, Predictive Modeling, Machine Learning, Model Performance, Econometric Models, Stress Testing, Model Documentation, Data Analysis, Back Testing, Benchmarking, Sensitivity Analysis

Industry

Banking

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. Bank of America is committed to help employees through the transition period when they’re displaced as a result of a workforce reduction, realignment or similar measure. Please review the resume writing and interviewing tips provided below to help prepare you for your next career opportunity. Getting started Regardless of the position you are interested in, the starting points to building your resume are the same: 1. Determine the job or types of jobs you want to do and research their responsibilities and qualifications. 2. Think about why you can do the job and make a list of your skills that are relative to the job. 3. Identify experiences or accomplishments that show your proficiency in the skills required for the job. 4. Summarize your abilities, accomplishments and skills into a brief, concise document. Considerations when writing a resume • Do be brief. Resumes should be 1-2 pages in length. • Do be upbeat and active in your wording. • Do emphasize what you have done clearly and concretely. • Do be neat and well organized. • Do have others proofread and critique your resume. Spell check. Make it error free. • Do use high quality, white or light colored 8½ x 11 paper. Use a laser printer if possible. • Don't be dishonest, always tell the truth about yourself in the most flattering light. • Don't include salary history or requirements. • Don't include references. • Don't include accomplishments that do not support your professional goals. • Don't include anything that isn't relevant. (For example, don't mention your fondness for swimming unless you want to work on the water.) • Don't use italics, underlining, shadows or other fancy treatments. Seven steps to a successful interview 1. Anticipate –Put yourself in the interviewer's position. What do you believe the interviewer is most interested in? Why do you think you have been invited to interview? 2. Research –What are the primary functions of the line of business? What are the success factors for the job? Is there a job description available? 3. Assess –Think about your skills, abilities, knowledge, interests, traits, values and accomplishments. Match them to what you know about the job. Consider which ones you should highlight. 4. Prepare Answers –Think about what the interviewer may ask, determine what the best answer is and write it down. 5. Prepare Questions – Interviewing is a two-way street. By asking thoughtful questions, you communicate your interest and learn a lot about the job. Choose two or three questions to ask your interviewer. Avoid asking a lot of questions about vacation time or breaks. 6. Practice – It may seem awkward, but it is the best way to come across well in an interview. Practice your own "great responses" with others or in front of a mirror until you appear relaxed and at ease. 7. Follow-up – Send a brief follow-up letter to the interviewer. Keep in mind that the many job searchers will not send a follow-up letter. Sending one can become a competitive advantage. Pay Transparency - https://careers.bankofamerica.com/en-us/pay-transparency Privacy Statement - https://careers.bankofamerica.com/en-us/privacy-notice

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Responsibilities

The role involves applying quantitative methods to develop capabilities that meet risk management and regulatory requirements. Additionally, it includes communicating model results and conducting in-depth analysis on the Bank's risk model results.