Jersey City, New Jersey

Job Description:

Overview of Global Risk Analytics
Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist II 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 the Team
Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.

This role sits within Model Performance team (MP), which is responsible for monitoring and assessing the performance of all risk models used across Global Markets - supporting risk management in understanding the drivers behind material risk metric movement, the impact of model limitations and backtesting, and working with the model development team to enhance model accuracy and the overall performance of the analytics platform.

Overview of the Role
As a Risk Analysis Specialist II, your responsibilities will involve:
  • Performing in-depth analysis into the bank's counterparty credit risk (CCR) model performance results.
  • Identifying and defining change opportunities to drive automation and improve process efficiency across the function
  • Knowledge & Understanding of Backtesting and explaining of key drivers on issues identified and driving remediation.
  • Working directly with the CCR Model developers and Credit Risk Managers and leveraging analysis from Model Performance assessment to help drive model improvements and impact to Risk Management.
  • Working with the wider CCR model performance team to identify and quantify model limitations resulting from backtesting analysis.
  • Performing longer term trend analysis across our CCR portfolios to identify systemic themes
  • Working with the wider GRA global markets model performance team to leverage insight into significant market movements and how these are driving exposures.
  • Raising issues with upstream data providers where necessary, and quantifying impact
  • Assisting in the production of communication materials for senior management, governing committees and regulatory bodies.

Position Overview
QA004 - Risk Analysis Specialist II (B5)
Responsible for performing model performance assessment and ongoing monitoring or counterparty credit risk to ensure risk is mitigated. Good foundation of counterparty credit risk backtesting and experience in analyzing model performance results and its impact to the business. Reviews and analyzes model performance results and recommends strategies driving model improvements. May participate in or develop complex program models to extract data and use databases to provide statistical and financial modelling. Master's degree or large data experience preferred; Programming experience like SQL, Python, preferred. Minimum experience of 5 years.

Required Education, Skills, and Experience
  • Bachelor's degree and above (or equivalent), preferably in finance or a quantitative field
  • Solid working experience (5 years +) in a related field (Market Risk, Counterparty Credit Risk)
  • Broad financial product knowledge
  • Experience in data analysis, with excellent research and analytical skills
  • Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions
  • Ability to multitask with excellent time management skills
  • Sense of focus and rigor in the completion of deliverables
  • Pro-active behavior with capacity to seize initiative

Desired Skills and Experience
  • Programming skills (Python, C++, SQL, or equivalent object-oriented programming) a plus
  • Team lead experience a plus


Job Band:
H5

Shift:
1st shift (United States of America)

Hours Per Week:
40

Weekly Schedule:

Referral Bonus Amount:
0
--> Job Description:

Overview of Global Risk Analytics
Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist II 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 the Team
Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.

This role sits within Model Performance team (MP), which is responsible for monitoring and assessing the performance of all risk models used across Global Markets - supporting risk management in understanding the drivers behind material risk metric movement, the impact of model limitations and backtesting, and working with the model development team to enhance model accuracy and the overall performance of the analytics platform.

Overview of the Role
As a Risk Analysis Specialist II, your responsibilities will involve:
  • Performing in-depth analysis into the bank's counterparty credit risk (CCR) model performance results.
  • Identifying and defining change opportunities to drive automation and improve process efficiency across the function
  • Knowledge & Understanding of Backtesting and explaining of key drivers on issues identified and driving remediation.
  • Working directly with the CCR Model developers and Credit Risk Managers and leveraging analysis from Model Performance assessment to help drive model improvements and impact to Risk Management.
  • Working with the wider CCR model performance team to identify and quantify model limitations resulting from backtesting analysis.
  • Performing longer term trend analysis across our CCR portfolios to identify systemic themes
  • Working with the wider GRA global markets model performance team to leverage insight into significant market movements and how these are driving exposures.
  • Raising issues with upstream data providers where necessary, and quantifying impact
  • Assisting in the production of communication materials for senior management, governing committees and regulatory bodies.

Position Overview
QA004 - Risk Analysis Specialist II (B5)
Responsible for performing model performance assessment and ongoing monitoring or counterparty credit risk to ensure risk is mitigated. Good foundation of counterparty credit risk backtesting and experience in analyzing model performance results and its impact to the business. Reviews and analyzes model performance results and recommends strategies driving model improvements. May participate in or develop complex program models to extract data and use databases to provide statistical and financial modelling. Master's degree or large data experience preferred; Programming experience like SQL, Python, preferred. Minimum experience of 5 years.

Required Education, Skills, and Experience
  • Bachelor's degree and above (or equivalent), preferably in finance or a quantitative field
  • Solid working experience (5 years +) in a related field (Market Risk, Counterparty Credit Risk)
  • Broad financial product knowledge
  • Experience in data analysis, with excellent research and analytical skills
  • Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions
  • Ability to multitask with excellent time management skills
  • Sense of focus and rigor in the completion of deliverables
  • Pro-active behavior with capacity to seize initiative

Desired Skills and Experience
  • Programming skills (Python, C++, SQL, or equivalent object-oriented programming) a plus
  • Team lead experience a plus


Job Band:
H5

Shift:
1st shift (United States of America)

Hours Per Week:
40

Weekly Schedule:

Referral Bonus Amount:
0
Job Description:

Overview of Global Risk Analytics
Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist II 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 the Team
Global Markets Risk Analytics (GMRA) is part of Global Risk Analytics (GRA). It responsible for developing, maintaining, and monitoring counterparty credit risk and market risk models. GMRA also develops analytical tools to support regulatory, audit, and internal risk management needs for Global Markets.

This role sits within Model Performance team (MP), which is responsible for monitoring and assessing the performance of all risk models used across Global Markets - supporting risk management in understanding the drivers behind material risk metric movement, the impact of model limitations and backtesting, and working with the model development team to enhance model accuracy and the overall performance of the analytics platform.

Overview of the Role
As a Risk Analysis Specialist II, your responsibilities will involve:
  • Performing in-depth analysis into the bank's counterparty credit risk (CCR) model performance results.
  • Identifying and defining change opportunities to drive automation and improve process efficiency across the function
  • Knowledge & Understanding of Backtesting and explaining of key drivers on issues identified and driving remediation.
  • Working directly with the CCR Model developers and Credit Risk Managers and leveraging analysis from Model Performance assessment to help drive model improvements and impact to Risk Management.
  • Working with the wider CCR model performance team to identify and quantify model limitations resulting from backtesting analysis.
  • Performing longer term trend analysis across our CCR portfolios to identify systemic themes
  • Working with the wider GRA global markets model performance team to leverage insight into significant market movements and how these are driving exposures.
  • Raising issues with upstream data providers where necessary, and quantifying impact
  • Assisting in the production of communication materials for senior management, governing committees and regulatory bodies.

Position Overview
QA004 - Risk Analysis Specialist II (B5)
Responsible for performing model performance assessment and ongoing monitoring or counterparty credit risk to ensure risk is mitigated. Good foundation of counterparty credit risk backtesting and experience in analyzing model performance results and its impact to the business. Reviews and analyzes model performance results and recommends strategies driving model improvements. May participate in or develop complex program models to extract data and use databases to provide statistical and financial modelling. Master's degree or large data experience preferred; Programming experience like SQL, Python, preferred. Minimum experience of 5 years.

Required Education, Skills, and Experience
  • Bachelor's degree and above (or equivalent), preferably in finance or a quantitative field
  • Solid working experience (5 years +) in a related field (Market Risk, Counterparty Credit Risk)
  • Broad financial product knowledge
  • Experience in data analysis, with excellent research and analytical skills
  • Good written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions
  • Ability to multitask with excellent time management skills
  • Sense of focus and rigor in the completion of deliverables
  • Pro-active behavior with capacity to seize initiative

Desired Skills and Experience
  • Programming skills (Python, C++, SQL, or equivalent object-oriented programming) a plus
  • Team lead experience a plus


Shift:
1st shift (United States of America)

Hours Per Week:
40
Learn more about this role

Jersey City, New Jersey

You’ve led troops, now help lead your community 

As a leader in the military, you motivated troops to get the job done. We value your ability to influence change and encourage you to continue that influence here and in our communities. Our Military Affairs Team proudly supports veterans in our communities through education and volunteer events. Together, we can create better communities and a brighter future for us all. 

First you fought for the American dream, now you can guide its future

You joined the military to protect a nation and its people. Let the same passion for making a difference lead you to a new career. At Bank of America, we’re proud that more than 6,800 veterans work for us. They’ve discovered that their desire to help others didn’t end with their service. Here, you’ll help our customers and clients connect to better financial lives.

Similar jobs