Quantitative Financial Analyst

Bank of America
Wilmington, NC
Job Description:

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 is core to how we drive Responsible Growth. This includes our commitment to being an inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

This job is responsible for conducting auditing activities of model risk management across the company and for specific business units or control functions. Key responsibilities include leading the audit assessment of effectiveness of controls supporting the model life cycle including model governance, development, validation, on-going monitoring, and model change management. Job expectations may include the ability to influence management’s strategic direction and actions to strengthen the model risk control environment.

Responsibilities:

  • Conducts audit assessment of effectiveness of controls supporting the model life cycle including model governance, development, validation, on-going monitoring, and model change management.
  • Performs review of model development analysis and on-going model performance testing to assess the conceptual soundness of the model methodology, reasonableness of the model assumptions and the completeness and accuracy of the model testing.
  • Conducts review the model validation analysis to assess the effectiveness of the model validation process. Assesses the completeness and reasonableness of the model assumptions, limitations and independent model testing.
  • Provides insightful challenges to management, identifies control deficiencies or enhancement opportunities, conducts root cause investigation, documents and reports audit findings.
  • Works closely with teammates from multiple internal audit teams to ensure a comprehensive coverage of model uses across the various lines of business of control functions.
  • Works closely with model stakeholders and senior management with regard to communication of audit assessment outcomes.

Required Qualifications:

  • Bachelor's Degree or above in a quantitative discipline such as Mathematics, Statistics, Finance, Economics, Engineering, or Science
  • 5+ years of industry experience relating to financial modelling and model uses, particularly in trading models, market risk models and Counterparty Credit Risk models
  • Familiar with regulations and regulatory guidance on model risk management

Desired Qualifications:

  • Master's degree or above
  • Prior auditing background preferred

Skills:

  • Critical Thinking
  • Quantitative Development/Validation
  • Risk Analytics
  • Risk Modeling
  • Technical Documentation
  • Collaboration
  • Problem Solving
  • Risk Management
  • Data Modeling and Trend Analysis
  • Written Communications

Shift:

1st shift (United States of America)

Hours Per Week:

40
Posted 2025-11-27

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