Senior Quantitative Finance Analyst
Company: Disability Solutions
Location: Charlotte
Posted on: October 24, 2024
Job 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. Responsible Growth is how we run our company and
how we deliver for our clients, teammates, communities and
shareholders every day.One of the keys to driving Responsible
Growth is being a great place to work for our teammates around the
world. We're devoted to being a diverse and inclusive workplace for
everyone. We hire individuals with a broad range of backgrounds and
experiences and invest heavily in our teammates and their families
by offering competitive benefits to support their physical,
emotional, and financial well-being.Bank of America believes both
in the importance of working together and offering flexibility to
our employees. We use a multi-faceted approach for flexibility,
depending on the various roles in our organization.Working at Bank
of America will give you a great career with opportunities to
learn, grow and make an impact, along with the power to make a
difference. Join us!Enterprise Model Risk Management seeks a Sr
Quantitative Fin Analyst - Anti-Money Laundering (AML) to conduct
independent testing and review of complex models used to monitor
and mitigate money laundering risk. The candidate should exhibit
familiarity with industry practices and have knowledge of
up-to-date AML techniques. The candidate should be able to provide
both thought leadership and hands-on expertise in methodology,
techniques, and processes in applying statistical and machine
learning methods to manage the bank's AML models and model
systems.The position will be responsible for:
- Performing independent model validation, annual model review,
ongoing monitoring report review, required action item review, and
peer review.
- Conducting governance activities such as model identification,
model approval and breach remediation reviews.
- Providing hands-on leadership for projects pertaining to
statistical modeling and machine learning approaches to effectively
challenge and influence the strategic direction and tactical
approaches of these projects.
- Communicating and working directly with relevant modeling teams
and their corresponding Front Line Units; communicating and
interacting with the third line of defense (e.g., internal audit)
as well as external regulators, as needed.
- Writing technical reports for distribution and presentation to
model developers, senior management, audit and banking
regulators.
- Acts as a senior level resource or resident expert on
analytic/quantitative modeling techniques used for Anti-money
laundering.Required Qualifications & Skills:
- PhD or Masters in a quantitative field such as Mathematics,
Physics, Finance, Economics, Engineering, Computer Science,
Statistics.
- Knowledge and 4+ years of experience in building and
understanding of Anti-Money Laundering models and systems.
- Strong familiarity with industry practices in the field and
knowledge of up-to-date Anti-Money Laundering techniques
- CAMS certification (preferred)
- Fluency in Python, SAS and SQL
- Excellent written and oral communication skills with
stakeholders of varying analytic skills and knowledge
levels.Responsibilities:
- Performs end-to-end market risk stress testing including
scenario design, scenario implementation, results consolidation,
internal and external reporting, and analyzes stress scenario
results to better understand key drivers
- Leads the planning related to setting quantitative work
priorities 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
outcomes
- Performs statistical analysis on large datasets and interprets
results using both qualitative and quantitative approachesMinimum
Education Requirement:
- Master's degree in related field or equivalent work
experienceSkills:
- 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 CommunicationsShift:1st shift (United States of
America)Hours Per Week: 40Pay Transparency detailsUS - NY - New
York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and
benefits informationPay range$125,000.00 - $210,000.00 annualized
salary, offers to be determined based on experience, education and
skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.
Keywords: Disability Solutions, Huntersville , Senior Quantitative Finance Analyst, Accounting, Auditing , Charlotte, North Carolina
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