Sr Quantitative Finance Analyst (VP/Director) - Liquidity Model Validation

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 conducting quantitative analytics and complex modeling projects for specific business units or risk types. Key responsibilities include leading the development of new models, analytic processes, or system approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.

Enterprise Model Risk Management seeks a Senior Quantitative Finance Analyst – Liquidity Risk to conduct independent testing and review of complex models used to monitor and mitigate liquidity and funding risks in the Bank. Responsible for compliance with Enhanced Prudential Standards and other regulatory guidelines, the candidate will work on models related to both banking and trading businesses of Bank of America. The candidate should exhibit familiarity with industry practices and have up-to-date knowledge of liquidity risk management. The candidate should be able to provide both thought leadership and hands-on expertise in methodology, techniques, and processes in applying mathematical approaches to manage the bank’s liquidity risk models and model systems.

Responsibilities:

• Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.

• Perform independent review of the liquidity risk management processes and models to identify risks which the LOB is exposed to, implementing measures to prevent and mitigate losses, and monitoring risk outcomes

• Conducting governance activities such as model identification, model approval and breach remediation reviews.

• Providing hands-on leadership for projects pertaining to liquidity risk modeling 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 liquidity risk management.

• Liaison with businesses to understand market trends and impacts on portfolio, using knowledge of liquidity risk management, and its applicability to various business lines and products,

• Ensure adherence to the regulations as well as policies and procedures established by the company,

• Manage risk requests, breach remediations and providing risk effective challenges for front line units,

• Develop risk analyses and high-quality reports which are shared Senior management and regulators.

Minimum Education Requirement: Master’s degree in related field or equivalent work experience
 

Required Qualifications:

• Masters in finance or economics with demonstrated quantitative skills. 

• Experience in working large banking institutions preferred.

• FRM and CFA certifications preferred.

• Knowledge and 5+ years of experience in building and understanding of liquidity risk management models. 

• Strong familiarity with the industry practices in the field and knowledge of up-to-date liquidity risk management. 

• Proven leadership abilities.

• Excellent written and oral communication skills with stakeholders of varying analytic skill and knowledge levels.

Shift:

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