Quantitative Finance Analyst

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 analysis for counterparty credit risk (CCR) that arise in the Global Markets business. The role will support management of various counterparty limit frameworks (Stress Gap, Wrong Way Risk, Contingent Market Risk), monitoring secondary risk factors, point of weakness analysis of the CCR portfolios, and generating management reporting to internal stakeholders, governance and regulators.

• Manage counterparty stress-based concentration limit frameworks across asset classes, product types and industry sectors. Perform BAU CCR stress testing including scenario design, implementation and analyzing results to explain key drivers of risk exposures.
• Partner with the Credit Officers, Enterprise Credit Risk, FLU Sales & Trading on CCR limit calibration and new trade approvals to support the underwriting process.
• Lead sector specific CCR portfolio reviews along with specialized deep dives on individual counterparties.
• Develop and maintain risk analytics, secondary Points of Weakness measures to adequately support products and risks to client strategies, develop supplementary risk analysis based on material Risk ID. Collaborate with Market Risk coverage to apply consistent risk approach.
• Represent CCR in regulatory exams and ongoing monitoring, addressing regulatory findings, and presenting on special topics.
• Monitor CCR model performance and challenge GRA to enhance models.

Required Qualifications:

• Solid understanding of derivative products with broad knowledge across asset classes (FX, rates, equity, commodities and credit)
• Knowledge of counterparty credit risk measurement techniques on derivatives and financing transactions
• Excellent communication skills both written and verbal
• Self-starter who excels in a fast paced environment
• Strong computer skills

Desired Qualifications:

• Degree in finance/economics / statistics
• Prior experience in a risk manager role covering Global Markets products

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

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

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.