Bank of America Quantitative Finance Analyst, Market Risk Development in Chicago, Illinois

Job Description:

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 excellent quantitative/analytic skills, especially in statistics, and a broad knowledge of financial markets and products. Programing skills in R and Python are a plus.

Job Description

Responsible for development, maintenance and enhancement of quantitative/analytic models and applications in support of the firm's risk management effort. This role focuses on the development and enhancement of risk analytics and stress testing models.

Bank of America Global Risk Management organization has an opportunity for a Quantitative Finance Analyst position within its Market Risk Analytics group at Chicago office. The main responsibility is to provide quantitative modeling and analytics support to Global Market Risk Management and Enterprise Capital Management groups. The following task are expected to be performed in this role:

  • Develop quantitative/analytic models and applications in support of market risk assessment and regulatory capital calculation.

  • Provide developmental evidence on statistical assumptions of risk and stress testing models

  • Work with model stakeholders on defining model enhancements/changes, performing testing and impact analysis, and conduct ongoing review and analysis.

  • Preparation of developmental evidence and document to support internal and external inquiries.

  • Partner with various internal groups including Capital, Risk, Technology and Model Risk Management to provide model transparency and enhancing analytics capability

Education and Experience Requirement

  • 2-5years of quantitative modeling experience in related areas or a PhD degree in Statistics, Mathematics or Physics

  • An advanced quantitative degree in Statistics, Mathematics, Physics, Finance or Technical field

  • Knowledge of financial market and products.

  • Knowledge and understanding of market risk regulatory capital framework.


  • Experience & proficiency with statistical software packages such as R, or programming languages such as Python

  • Ability to multitask and properly prioritize multiple projects

  • Effective verbal and written communication skills


  • Self-motivated

  • Sense of focus and rigor in the completion of deliverables

  • Pro-active behavior with capacity to seize initiative

  • Team player

Posting Date : 02/06/2018

Location :

Chicago, IL, 135 S LA SALLE ST (IL4135),

  • United States

Travel : Yes, 5% of the time

Full / Part-time : Full time

Hours Per Week : 40

Shift : 1st shift

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