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 leading a team to develop or validate quantitative analytics and models for specific business units or risk types. Job expectations include supporting business units and acting as a subject matter expert on specified quantitative modeling techniques, as well as serving as the first or second line of defense overseeing model performance, model risk, and model governance on critical model portfolios.

Responsibilities:

• Leads a quantitative team with model coverage of specified focus areas and oversees stakeholder engagement, including team effort in preparation for audit and regulatory exams
• Sets priorities related to quantitative modeling in line with the bank’s overall strategy and prioritization
• Identifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation
• Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
• Leads and provides methodological, analytical, and technical guidance to effectively challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential risk
• Works closely with model stakeholders and senior management with regard to communication of submission and validation outcome

Provide domain expertise for Strategic Risk Initiatives, Risk Management, GRA , Regulators (MRA/MRIA), Audit , MRM, QSG and MRT/FO technology, providing requirements, system design and adoption testing support. Design of strategic systems for Full Revaluation Risk, Reference Data, Market Data and adoption of Firm wide strategic projects across the Market Risk and Counterparty Risk domains. Provide coherent, sustainable solutions to support Market Risk and Counterparty Risk, through updating and maintaining existing risk systems. Assist with new Regulatory requirements and build/improve processes to a point that they can be handed over to the appropriate team for on-going production (EST, Internal/External Reporting, GBS). Provide a “One Stop Shop” for Risk Managers, GRA, external teams for Market Risk model and systems support.

Minimum Education Requirement: Master’s degree in related field, PhD preferred.

Required Experience​:

• 5-10 years of experience in the Risk/Finance or related discipline.
• Degree in Statistics, Mathematics, Computer Science, Information Systems, Physics or a related quantitative field.
• Proven experience in a related quantitative occupation.
• Experience working with tools like Python, Excel, and SQL scripting. 
• Strong documentation skills.

Desired Experience:

• Excellent analytical and problem-solving skills.
• Ability to work independently and as part of a team.
• Strong communication and interpersonal skills.
• Knowledge of financial markets and risk management concepts.

Skills:

• Business Acumen
• Critical Thinking
• Regulatory Relations
• Talent Development
• Technical Documentation
• Policies, Procedures, and Guidelines Management
• Project Management
• Risk Analytics
• Risk Management
• Stakeholder Management
• Drives Engagement
• Inclusive Leadership
• Risk Modeling
• Strategic Thinking
• Written Communications

Shift:

1st shift (United States of America)

Hours Per Week:

40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525), US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Pay and benefits information

Pay range

$160,000.00 - $226,500.00 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.