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
- Develop systematic commodity investment strategies for pension funds, asset managers and hedge funds.
- Design specific products subject to client specifications, including enhanced commodity index strategies and derivative products.
- Optimize the specific products by performing statistical analysis.
- Work closely with commodity index trading to design hedging strategies to best hedge the desk's exposure for already executed client trades, especially when there are market disruption events.
- Market with clients via in person meetings or phone calls to understand their requirements and design specific commodity products accordingly.
- Utilize programming skills to build and support the software platform for the construction, calculation, and maintenance of commodity index products, approximately three thousand (3000) products currently.
- Design indices and strategies for institutional clients.
- Generate new ideas from mathematical, statistical, economic and financial concepts.
- Create framework to test ideas using computer code for correctness to generate analysis for clients to show evidence of risk premium.
Required Skills & Experience
- Master's degree or equivalent in Computational Finance, Statistics, Economics, or related: and
- 3 years of experience in the job offered or a related Finance occupation.
- Must include 3 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 develop ideas and analysis;
- Applying statistical techniques to analyze trends and uncover risks and opportunities relative to portfolio management and originations;
- Utilizing Python and SQL to independently test ideas, preparing analysis and debugging existing strategy framework;
- Supporting independent model validation and regulation exam activities in accordance with internal policies and U.S. Federal Reserve regulations;
- Pitching commodity risk premia internally and to external clients by having a deep understanding of both fundamental and quantitative aspect of the different markets (oil, gas, metals, grains, softs); and,
- Creating innovative Commodity and FX custom products for specific clients' needs by leveraging data and coding in a short amount of time.
- 10% domestic and international travel required, as necessary.
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.
Merrill Lynch Commodities Inc.
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
$225,000.00 - $235,000.00 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.