Job Location: Jersey City, NJ
Job Detail:
Equivalent Experience
***W2 Candidates Only Eligible – Third Party Vendors Need Not Apply***
Overview of Global Risk Analytics
Bank of America Merrill Lynch has an opportunity for a Quantitative Finance Analyst (B5) within our Global Risk Analytics (GRA) function. GRA is a sub-line of business within Global Risk Management (GRM). 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. GRA partners with the Lines of Business and Enterprise functions to ensure that its models and analytics address both internal and regulatory requirements, such as quarterly Enterprise Stress Testing (EST), the annual Comprehensive Capital Analysis and Review (CCAR), and the Current Expected Credit Losses (CECL) accounting standard. GRA models follow an iterative and ongoing development life cycle, as the bank responds to the changing nature of portfolios, economic conditions and emerging risks. In addition to model development, GRA conducts model implementation, data management, model execution and analysis, forecast administration, and model performance monitoring. GRA drives innovation, process improvement and automation across all of these activities.
Overview of the Role
The 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 requirements
- Maintaining and continuously enhancing capabilities over time to respond to the changing nature of portfolios, economic conditions and emerging risks
- Understanding and executing activities that form the end-to-end model development and use life cycle
- Identifying requirements from the teams which improve the group’s ability to generate insights and understanding of portfolio risk, model accuracy, and forecast reasonability
- Clearly documenting and effectively communicating quantitative methods as part of ongoing engagement with key stakeholders, including the lines of business, risk managers, model validation, technology
Position Overview
Responsible for independently conducting quantitative analytics and modeling projects. Responsible for developing new models, analytic processes or systems approaches. Creates documentation for all activities and works with Technology staff in design of any system to run models developed. Incumbents possess excellent quantitative/analytic skills and a broad knowledge of financial markets and products..
Required Education, Skills, and Experience
- Graduate degree in quantitative discipline (e.g. Mathematics, Economics, Engineering, Finance,
Physics)
- 2-3 years of relevant experience in model development, statistical work, data analytics or quantitative research, or PhD
- Strong Programming skills e.g. R, Python, SAS, SQL, R or other languages
- Strong technical, analytical and problem-solving skills
- Strong communication skills and ability to effectively communicate quantitative topics to technical and non-technical audiences
- Effectively presents findings, data, and conclusions to influence senior leaders
- Ability to work in a large, complex organization, and influence various stakeholders and partners
- Strong team player able to seamlessly transition between contributing individually and collaborating on team projects;
Desired Skills and Experience
- Experience with complex data architecture, including modeling and data science tools and libraries, data warehouses, and machine learning
- Knowledge of predictive modeling, statistical sampling, optimization, machine learning and artificial intelligence techniques
- Ability to extract, analyze, and merge data from disparate systems, and perform deep analysis
- Experience designing, developing, and applying scalable Machine Learning and Artificial Intelligence solutions
- Experience with data analytics tools (e.g., Alteryx, Tableau)
- Experience with LaTeX
- Sees the broader picture and is able to identify new methods for doing things
- Broad understanding of financial markets and products
About TEKsystems:
We’re partners in transformation. We help clients activate ideas and solutions to take advantage of a new world of opportunity. We are a team of 80,000 strong, working with over 6,000 clients, including 80% of the Fortune 500, across North America, Europe and Asia. As an industry leader in Full-Stack Technology Services, Talent Services, and real-world application, we work with progressive leaders to drive change. That’s the power of true partnership. TEKsystems is an Allegis Group company.
The company is an equal opportunity employer and will consider all applications without regards to race, sex, age, color, religion, national origin, veteran status, disability, sexual orientation, gender identity, genetic information or any characteristic protected by law.
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