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About the Role

This job is responsible for leading a team to develop or validate quantitative analytics and models for specific business units or risk types. Job expectations include supporting business units and acting as a subject matter expert on specified quantitative modeling techniques, as well as serving as the first or second line of defense overseeing model performance, model risk, and model governance on critical model portfolios.

Responsibilities

Leads a quantitative team with model coverage of specified focus areas and oversees stakeholder engagement, including team effort in preparation for audit and regulatory exams
Sets priorities related to quantitative modeling in line with the bank’s overall strategy and prioritization
Identifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation
Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
Leads and provides methodological, analytical, and technical guidance to effectively challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential risk
Works closely with model stakeholders and senior management with regard to communication of submission and validation outcomes
Conducts quantitative analysis for counterparty credit risk (CCR) that arise in the Global Markets business
Supports management of various counterparty limit frameworks (Stress Gap, Wrong Way Risk, Contingent Market Risk), monitoring secondary risk factors, point of weakness analysis of the CCR portfolios, and generating management reporting to internal stakeholders, governance and regulators
Manages counterparty stress-based concentration limit frameworks across asset classes, product types and industry sectors
Performs BAU CCR stress testing including scenario design, implementation and analyzing results to explain key drivers of risk exposures
Partners with the Credit Officers, Enterprise Credit Risk, FLU Sales & Trading on CCR limit calibration and new trade approvals to support the underwriting process
Leads TOH and sector specific CCR portfolio reviews along with specialized deep dives on individual counterparties
Develops and maintains risk analytics, secondary Points of Weakness measures to adequately support products and risks to client strategies, develops supplementary risk analysis based on material Risk ID
Collaborates with Market Risk coverage to apply consistent risk approach
Represents CCR in regulatory exams and ongoing monitoring, addressing regulatory findings, and presenting on special topics
Monitors CCR model performance and challenges GRA to enhance models

Requirements

Solid understanding of derivative products with broad knowledge across asset classes (FX, rates, equity, commodities and credit)
Knowledge of counterparty risk measurement techniques on derivatives and financing transactions
Excellent communication skills both written and verbal
Self-starter who excels in a fast paced environment
Strong computer skills
Prior experience in a risk manager role covering Global Markets products

Skills

Business Acumen
Critical Thinking
Regulatory Relations
Talent Development
Technical Documentation
Policies, Procedures, and Guidelines Management
Project Management
Risk Analytics
Risk Management
Stakeholder Management
Drives Engagement
Inclusive Leadership
Risk Modeling
Strategic Thinking
Written Communications

Location

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)

Work Type

1st shift (United States of America)
40 Hours Per Week

Education Level

Master’s degree in related field or equivalent work experience
Degree in finance/economics / statistics

Salary/Compensations

$165,000.00 - $226,500.00 annualized salary, offers to be determined based on experience, education and skill set.

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.
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.

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.
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!