Bank of America Senior Quantitative Finance Analyst - Wilmington, DE in Wilmington, Delaware
Responsible for independently conducting quantitative analytics and modeling projects. Responsible for developing new models, analytic processes or systems approaches. Creates documentation for all activities and works with Technology staff in design of any system to run models developed. Incumbents possess excellentquantitative/analyticskills and a broad knowledge of financial markets and products.
Enterprise Model Risk Management seeks a quantitative analyst to conduct independent testing and review of models used for revenue and loss forecasting. These are high profile modeling areas in the bank, with continual senior management and regulatory focus.
General responsibilities include:
Assessing conceptual foundations of a model, model specification, underlying assumptions, limitations, variable selection, underlying data, developmental evidence, documentation.
Challenging model assumptions and approach as needed.
Proposing and executing model validation tests.
Developing code to replicate results and conduct independent testing.
Verifying accuracy of model implementation.
Assessing quality of model outputs through back testing against realized outcomes, benchmarking against alternative models and other relevant tests.
Conducting ongoing model monitoring.
Writing thorough technical reports for distribution and presentation to senior management, model developers, audit and bank regulators. Maintaining accurate records in the bank’s model risk management system
Master's degree in Economics, Statistics, Mathematics, Finance, Engineering, Physics or related field.
5+ years of professional quantitative experience
Solid knowledge of linear regression, time series model and logistic regression.
Deep understanding and knowledge of model performance measures.
Basic knowledge in financial risk modeling or validation.
Strong programming ability using SAS, R, Matlab and SQL.
Ability to communicate clearly and effectively.
Ability to produce high quality technical documentation.
Ph.D. degree in Economics, Statistics, Mathematics, Finance, Engineering, Physics or related field.
Knowledge of financial instruments and financial risk management principles.
Experience in risk management or quant group in a bank, financial institution or vendor.
Knowledge of machine learning, linear/non-linear regression or differential equations.
Experience in computational, engineering or scientific research or development roles.
Programming experience using Python, C/C++ or Java.
Posting Date : 07/16/2017
Location : US-DE-Wilmington
Travel : Yes, 5% of the time
Full / Part-time : Full time
Hours Per Week : 40
Shift : 1st shift
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