Quantitative Risk Data Analyst
Company: Bank of America
Location: Jersey City
Posted on: August 5, 2022
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Job Description:
Job Description: Overview of Global Risk Analytics Bank of
America has an opportunity for a Quantitative Finance Analyst
within our Global Risk Analytics (GRA) function. GRA is a sub-line
of business within Global Risk Management (GRM). GRA is responsible
for developing a consistent and coherent set of models and
analytical tools for effective risk and capital measurement,
management and reporting across Bank of America. GRA partners with
the Lines of Business and Enterprise functions to ensure that its
models and analytics address both internal and regulatory
requirements, such as quarterly Enterprise Stress Testing (EST),
the annual Comprehensive Capital Analysis and Review (CCAR), and
the Current Expected Credit Losses (CECL) accounting standard. GRA
models follow an iterative and ongoing development life cycle, as
the bank responds to the changing nature of portfolios, economic
conditions and emerging risks. In addition to model development,
GRA conducts model implementation, data management, model execution
and analysis, forecast administration, and model performance
monitoring. GRA drives innovation, process improvement and
automation across all of these activities. Overview of GRA Strategy
GRA Strategy is part of Global Risk Analytics (GRA). It is
responsible for three primary bodies of work: strategic planning
and delivery of major initiatives; program and project planning;
and data management and model execution. Strategy and Major
Initiatives are responsible for the planning and delivery of a
coherent model risk management framework and infrastructure across
GRA. These efforts include the development of one universal
platform for seamless model development and implementation, and
improvements to the quality and consistency of the data sourced for
all development and production purposes. The team also provides
forward-looking plans and solutions to ensure that GRA is
addressing internal and regulatory requirements in a strategic,
coordinated and pro-active manner. Programs and Projects provides
project management oversight to key regulatory reviews such as the
Current Expected Credit Losses (CECL) accounting standard and the
Comprehensive Capital Analysis & Review (CCAR), as well as other
strategic initiatives, including data, infrastructure and consumer
model development. Additionally, the team ensures that technology
roadmaps and data solutions align to Global Risk Management (GRM)
strategies. Overview of the Role: GRA is responsible for performing
complex analysis and is engaged in the development of modeling that
maximizes profits and asset growth and minimizes credit and
operating losses and other risk exposures. GRA provides analytical
support on various product strategies to ensure company goals are
met. GRA also coordinates the production of performance reports for
senior management reviews and analysis, reviews trends in current
population distributions and recommends risk mitigation strategies.
The successful candidate will participate in governance, retention
and disposition of data sets used to develop complex program
models, extract data and use databases to provide data inputs for
statistical and financial modelling Position Overview: --- Support
Product Executives in the implementation of a multi-year Data
Strategy Program --- Undertake data governance processes and manage
data framework, including but not limited to Enterprise Data
Management (EDM) standards adherence, managing centralized
documentation library (EDM templates, DSA/SLA agreements, etc.) and
partner with LOBs to maintain Data Lineage and Process Workflow
documentation --- Undertake EDM submission process in partnership
with LOBs, and run the current automated technology solutions for
data lineage visualization (Quartz Lineage Viewer & DQC) --- Manage
production of Data Quality Controls Dashboard, Management Reports
(EDM Adherence and tracking), and ad-hoc reporting requests (audit,
compliance, etc.) --- Execute on Authorized Data Source (ADS) Data
Sourcing and Provisioning strategy, in alignment with Enterprise
Data Management and Global Risk objectives Required Education
Skills & Experience: Bachelors or Masters in relevant discipline.
Minimum 1 year relevant experience in data related Academic
Research, Risk, Finance Technology, Compliance, or Audit Experience
using data mining and other advanced analytical techniques to
aggregate data for model development and/or to produce management
reporting & data visualization Programming experience with
languages such as Python, SQL or R. Experience with Business
Intelligence tools such as Alteryx and Tableau Truly comfortable in
a fast-paced and change-oriented environment Execution-oriented and
results-focused self-starter able to work independently Strong
organizational ability, project management skills, and extremely
detail oriented Excellent written and oral communication skills at
all levels (i.e. colleagues to senior management) and situations
(i.e. one-on-one to presentations) Keen judgment balancing business
strategy with rigorous risk management controls A pragmatic and
flexible attitude towards problem solving, and a consultative
working style Strong analytical mindset with attention to detail in
work as well as the ability to remain calm and flexible in the face
of increased demands, changing priorities and uncertain environment
Possesses a strong commitment to excellence by anticipating needs,
mitigating risks and minimizing potential problems. Good team
player with positive can-do attitude Desired Skills and Experience:
Background in finance, compliance, or related field Experience with
one or more of: Data Management, SOX, Data Quality Assurance
Program compliance Breadth of experience across businesses serving
people, companies and institutions Experience closely interacting
with analytical and/or technology team Shift: 1st shift (United
States of America) Hours Per Week: 40
Keywords: Bank of America, Jersey City , Quantitative Risk Data Analyst, Professions , Jersey City, New Jersey
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