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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.
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 conducting quantitative analytics and modeling projects for specific business units or risk types. Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products.
Responsibilities:
- Review critical assessment and challenge of models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation and documentation.
- Develop and implement testing plans and testing code in order to challenge models through empirical analyses and to verify model implementation.
- Review and assess ongoing model monitoring activities.
- Write technical reports for distribution and presentation to model developers, senior management, and audit and banking regulators.
- Conduct in-depth research and analysis to identify and assess emerging risks in the consumer lending landscape.
- Support the preparation of materials for meetings and examinations with internal auditors and financial regulators.
- Provide timely and accurate information to facilitate the model governance process.
- Remote work may be permitted within a commutable distance from the worksite.
Required Skills & Experience:
- Master's degree or equivalent in Statistics, Economics, Mathematics, Finance, Engineering (any), Physics, Computer Science, or related: and
- 2 years of experience in the job offered or a related Quantitative occupation.
- Must include 2 years of experience in each of the following:
- Utilizing scripting and analytical tools, including Python and SQL, to explore, process and thoroughly understand large volumes of structured and unstructured data in support of model development and testing, by doing data processing, feature engineering and automation;
- Leveraging statistical analysis, predictive modeling, linear regression and machine learning techniques to identify patterns, trends and key risk drivers and develop benchmark models;
- Supporting regulatory or compliance-related analytical work in alignment with internal polices and applicable regulations; and,
- Collaborating with cross-functional teams, including developers, data management, business stakeholders, to support model development, validation testing or deployment activities.
If interested apply online at www.bankofamerica.com/careers or email your resume to bofajobs@bofa.com and reference the job title of the role and requisition number.
EMPLOYER: Bank of America N.A.
Shift:
1st shift (United States of America)
**Hours Per Week: **
40
Pay Transparency details
US - NJ - Jersey City - 525 Washington Blvd (NJ2525)
Pay and benefits information
Pay range
- annualized salary, offers to be determined based on experience, education and skill set.
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.