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About the Role

The Quantitative Strategies & Data Group within Global Markets is seeking a skilled Risk Quant to develop Python-based solutions on the Bank’s strategic platform, Quartz. This role involves independent review and challenge of risk and PnL calculations across all asset classes and collaboration with Quant, Risk, and Front Office Technology teams on strategic and regulatory programs.

Responsibilities

• Design, develop, implement, and maintain market models (e.g. VaR) to ensure accurate measurement of risk exposures across trading books, in line with regulatory and internal governance requirements
• Support the implementation of risk data testing frameworks to assess the appropriateness, completeness and reasonableness of risk scenarios, VaR, expected shortfall and stress test calculations.
• Investigate and categorise data anomalies and inconsistencies in risk outputs
• Produce clear and structured risk validation reports, highlighting key findings, model code changes required and other recommendations for data quality improvement
• Partner with Quant developers, Risk and Tech teams to ensure that the solutions are aligned with regulatory expectations and internal governance standards

Requirements

• Masters/PhD level in Finance, Economics or a quantitative subject (Mathematics, Statistics, Physics, Engineering, Computer Science or other analytical background)
• Proficient in Python, SQL, C++ and other
• Understanding of: VaR (full revaluation vs grid-based methodologies), stressed VaR and Expected Shortfall, PnL Explain (HPL / RTPL), and Regulatory capital requirements including FRTB IMA.
• Experience working in a Quant, Risk or Risk Tech team on regulatory programs (e.g. FRTB SA or IMA)
• Knowledge of derivative products and valuation concepts, and experience working across various asset classes (Rates / Commodity / Credit / FX / Equity)
• Excellent analytical and problem-solving skills
• Strong communication skills, with the ability to articulate complex quantitative concepts clearly
• At least 2 years of financial markets experience

Skills

• Python
• SQL
• C++
• VaR
• Stressed VaR
• Expected Shortfall
• PnL Explain
• FRTB IMA
• Derivative products
• Valuation concepts
• Rates
• Commodity
• Credit
• FX
• Equity

Location

• Onsite

Work Type

• Full-time

Experience Level

• Junior to experienced professionals

Education Level

• Masters/PhD

Benefits

• Competitive benefits to support their physical, emotional, and financial well-being

About the Company

• At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection.
• Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
• One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world.
• We’re devoted to being a diverse and inclusive workplace for everyone.
• We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
• Bank of America believes both in the importance of working together and offering flexibility to our employees.
• We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
• Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference.
• Partnering Locally Learn about some of the ways Bank of America is making a difference in the communities we serve.
• Global Impact Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates.
• Opportunity and Inclusion Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success.
• Our Values Learn about our four values that represent what we believe.

Equal Opportunity

• We’re devoted to being a diverse and inclusive workplace for everyone.