Quantitative Financial Analyst

Quantitative Financial Analyst

This job is responsible for conducting auditing activities of model risk management across the company and for specific business units or control functions. Key responsibilities include leading the audit assessment of effectiveness of controls supporting the model life cycle including model governance, development, validation, on-going monitoring, and model change management. Job expectations may include the ability to influence management's strategic direction and actions to strengthen the model risk control environment.

Responsibilities

Conducts audit assessment of effectiveness of controls supporting the model life cycle including model governance, development, validation, on-going monitoring, and model change management.

Performs review of model development analysis and on-going model performance testing to assess the conceptual soundness of the model methodology, reasonableness of the model assumptions and the completeness and accuracy of the model testing.

Conducts review the model validation analysis to assess the effectiveness of the model validation process. Assesses the completeness and reasonableness of the model assumptions, limitations and independent model testing.

Provides insightful challenges to management, identifies control deficiencies or enhancement opportunities, conducts root cause investigation, documents and reports audit findings.

Works closely with teammates from multiple internal audit teams to ensure a comprehensive coverage of model uses across the various lines of business of control functions.

Works closely with model stakeholders and senior management with regard to communication of audit assessment outcomes.

Required Qualifications

Bachelor's Degree or above in a quantitative discipline such as Mathematics, Statistics, Finance, Economics, Engineering, or Science

5+ years of industry experience relating to financial modelling and model uses, particularly in trading models, market risk models and Counterparty Credit Risk models

Familiar with regulations and regulatory guidance on model risk management

Desired Qualifications

Master's degree or above

Prior auditing background preferred

Skills

Critical Thinking

Quantitative Development / Validation

Risk Analytics

Risk Modeling

Technical Documentation

Collaboration

Problem Solving

Risk Management

Data Modeling and Trend Analysis

Written Communications

Shift

1st shift (United States of America)

Hours Per Week : 40

Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws.