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!
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.
Responsibilities:
- Mortgage Desk Quant / Strats role supporting the Mortgage Trading desk.
- Strong expertise in pricing and risk of interest rate products, including swaps, Treasuries, swaptions, options, caps, and floors.
- Hands-on experience with IR curve construction (SOFR, Treasury), IR volatility surfaces, and simulation-based Monte Carlo models (e.g., BGM).
- Strong Python programming skills to build desk-facing pricing, risk, automation, and analytics tools.
- Work closely with mortgage traders on daily valuation, risk analysis, model enhancements, and trade support.
- Ideal candidate has exposure to the mortgage sector, including Agency RMBS pricing and Agency CMO products, with a strong understanding of mortgage–rates interactions.
- Generate required documentation and testing to support model risk management, ongoing model review, and validation.
- Collaborative working style with the ability to partner effectively with Technology, Risk, and other support teams.
- Take ownership of model design decisions and act as a key quantitative liaison between Trading, Risk, and Technology.
Skills:
- Critical Thinking
- Quantitative Development
- Risk Analytics
- Risk Modeling
- Academic background at undergraduate or, ideally, Master’s/PhD level in a quantitative discipline (Mathematics, Statistics, Physics, Engineering, Computer Science, or similar analytical fields), or equivalent relevant work experience.
- Experience working closely with Trading, Finance, and Technology in a production environment.
- Comfortable operating in fast‑moving environments where intraday decisions matter.
- Proven ability to translate complex quantitative concepts into business‑usable tools, insights, and narratives.
- Clear, concise communication style with a strong focus on outcomes.
Minimum Education Requirement: PhD or Master’s degree in a related field or equivalent work experience.
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
$200,000.00 - $300,000.00 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.