Quantitative Finance Manager
Company: Disability Solutions
Location: Charlotte
Posted on: October 12, 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!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
outcomesModel Validation Lead ("MVL") oversees the team conducting
independent validation and analytics for AML models. The MVL is
responsible for providing risk oversight, acting as a subject
matter expert and the second line of defense overseeing model
performance, model risk and model governance. The MVL provides
advice and counsel to the LOB and Risk Partners and is expected to
help establish model risk management policies, limits, standards,
controls, metrics and thresholds within the model risk framework.
Accountable for managing execution of model risk framework
activities including, but not limited to, independent validation
and ongoing monitoring reviews for models for the LOB. 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 models 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 and actively participates in senior level
committees; provides guidance to junior team membersMinimum
Education Requirement: Master's degree in related field or
equivalent work experienceRequired Qualifications & Skills: --- PhD
or Masters in a quantitative field such as Mathematics, Physics,
Finance, Engineering, Computer Science, Statistics. --- Advanced
knowledge and 7+ years of experience in building and understanding
of Anti-Money Laundering models and systems --- Strong familiarity
with the 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 skill and knowledge levels.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 CommunicationsShift:1st shift (United States of
America)Hours Per Week: 40Pay Transparency detailsUS - NJ - Jersey
City - 525 Washington Blvd (NJ2525), US - NY - New York - ONE
BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits
informationPay range$159,500.00 - $225,200.00 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 , Quantitative Finance Manager, Executive , Charlotte, North Carolina
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