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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates’ physical, emotional, and financial wellness through affordable, competitive and flexible benefits.
We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Responsibilities
- Conduct quantitative analytics and complex modeling projects for specific business units or risk types.
- Review analytic processes, or system approaches and technical documentation for related activities.
- Perform independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.
- Conduct governance activities such as model identification, model approval and breach remediation reviews.
- Provide 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.
- Communicate and work directly with relevant modeling teams and their corresponding Front Line Units, communicate and interact with the third line of defense (e.g., internal audit) as well as external regulators, as needed.
- Write technical reports for distribution and presentation to model developers, senior management, audit and banking regulators.
- Act as a senior level resource or resident expert on analytic/quantitative modeling techniques used for Anti-money laundering.
- Remote work may be permitted within a commutable distance from the worksite.
Required Skills & Experience
- Master's degree or equivalent in Economics, Statistics, Finance, or related: and
- 5 years of experience in the job offered or a related Quantitative occupation.
- Must include 5 years of experience in each of the following:
- Utilizing current modeling and data science principals including time-series analysis, machine learning and deep learning to validate financial crime detection models;
- Applying statistical techniques to analyze trends and uncover risks and opportunities relative to anti-money laundering detection;
- Supporting independent model validation and regulation exam activities in accordance with internal policies and U.S. Federal Reserve regulations;
- Evaluating quantitative modelling and analytics projects through risk analytics; and,
- Providing governance oversight for several financial crime detection models for model risk management.
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.
Bank of America N.A.
Shift:
1st shift (United States of America)
**Hours Per Week: **
40
Pay Transparency details
US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)
Pay and benefits information
Pay range
$180,000.00 - $210,000.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This 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.
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.