Bank of America | Hiring | Data Engineer II B – GBS IND | BigDataKB.com | 2022-09-09

Job Description:

Overview (Bank overview, GBS India overview, Function Overview)*

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.

We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.

Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.

• BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview*

CDSO (Chief data scientist organization) within GRA Facilitates information advantage and a unified data science strategy across Bank of America by advancing data science and promoting transparency, coordination, and governance of AI applications to support multiple lines of business and control functions.

Job Description*

Individual as part of Global Risk Analytics (GRA) provides decision support services to enable our banking and markets, wealth management, capital management and credit risk business partners to manage risk well. To accomplish this, Team builds, develops and maintain models for risk and loss measurement. Additionally we produce and administer forecasts supporting allowance and stress-testing both domestically and internationally. GRA also provides advanced portfolio and ad hoc business intelligence, analytics and analysis to our business partners. GRA is made up of four main groups:

• Forecast Administration and Analytics employees possess a broad set of skills necessary to evaluate financial risk, produce regulatory reporting and evaluate portfolio risk for emerging, systemic, concentration and idiosyncratic risks. They collaborate with business partners to identify risk mitigation strategies. They possess high levels of skill in portfolio analysis, econometrics, financial analysis and data visualization.
• Forecast Operations team members utilize their skills in data wrangling, process engineering, database management and software development lifecycle project management to ensure that the processes to create forecasts is well controlled. These team members leverage skills in quantitative methods to conduct ongoing monitoring of model performance. They also possess capabilities in data science and data visualization techniques and tools.
• Model Development team members possess the skills needed to translate the Bank’s risks into models. They are able to produce professional research, evaluate data, conceptualize mathematical frameworks, and build robust code that reflects those frameworks. They are also able to thoroughly document the models they have built and present those models, regardless of complexity, to a wide range of stakeholders.
• Business Strategy and Governance team members support the WRA functions by providing expertise in operational risk, project portfolio management, and organizational development. These employees rely upon their ability to collaborate across the Enterprise, including with HR, PMO, Finance, Vendor Management and Compliance and Audit functions

Responsibilities*

• Lead Loss Forecasting Production activities including:
  • Management of local resources (Contract and FTE where applicable)
  • Execution of Loss Forecasting models and related attributions & sensitivities for both the Commercial and Industry + Commercial Real Estate Wholesale portfolios on a Weekly, Monthly and Quarterly basis covering the following use cases:
    • CCAR (Comprehensive Capital Analysis And Review)
    • CECL (Current Expected Credit Losses)
    • IFRS9 (International Financial Reporting Standard 9)
    • Climate (Forecasting impacts on the wholesale portfolio as a result of Climate related events)
• Support ad-hoc requests related to above mentioned use cases
• Facilitate reporting and reporting workflow generation
• Engage in process re-engineering to improve operational efficiency
• Perform control and governance related functions to support compliance/regulatory deliverables
• Proactively solve challenges with process design deficiencies, implementation and remediation efforts
• Partner with the IT team to perform system related design assessments, user acceptance testing and implementation of updated models
• Build and maintain strong partnerships with internal and external partners

Requirements*

Education*

BE / MCA

Certifications If Any

Statistics, operations research, economics, finance, physics or mathematics

Experience Range*

5 to 7 Years

Foundational Skills

• Basic understanding of Credit Risk
• Experience with SAS, SQL, R and other related software and hardware
• Experience in data analysis, with strong research and analytical skills
• Fundamental understanding of micro and macroeconomic concepts
• Strong attention to detail and exercises quality control over own work.

Desired Skills

• A successful candidate demonstrates learning abilities and following behaviors (not in priority order):
• Is respectful of and curious about what he/she does not know
• Thinks holistically with business and economic intuition
• Listens and learns about model uses, data analysis and sources, technology implementation, credit risk and business , regulation and regulatory guidance, macro/market/credit economics, accounting, capital, stress testing, allowance for loan lease losses
• Executes, is over-prepared and under-whelmed
• Integrates seamlessly across complex set of stakeholders, internal partners, external resources
• Becomes aware and is flexible, adaptive, and proactive
• Is compelling in verbal, non-verbal and writing and communicates with intention

Work Timings*

11:30 AM to 8:30 PM IST

Job Location*

Chennai

Job Band:

H6

Shift:

Hours Per Week:

45

Weekly Schedule:

Referral Bonus Amount:

0