Senior Financial Risk Analytics Specialist

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!
 

Enterprise Financial Risk (EFR) Overview

Enterprise Financial Risk (EFR) supports effective independent risk management of the activities and processes associated with managing the Company’s capital, liquidity and interest rate risks, including price risk in the CFO managed securities portfolio. As the Chief Risk Officer (CRO) function covering the Chief Financial Officer (CFO) Group, we also bring together a holistic point of view across all seven risk types for the Company’s CFO.

The team helps Bank of America grow responsibly through developing our teammates, promoting an inclusive culture, and approaching our work with intellectual curiosity. EFR delivers its mission through a steadfast commitment to its values: cultivating diversity of thought and valuing different perspectives and experiences; promoting learning, fostering relationships and creativity; developing talent, advancing careers, and creating leaders within Global Risk Management and across the company.  Our goal is to ensure that a healthy and sustainable financial risk profile is maintained through baseline economic scenarios, as well as during times of market and idiosyncratic stress.

EFR Team / Division:  Financial Risk Analytics and Reporting
The Financial Risk Analytics and Reporting team within EFR provides support to risk managers within Global Risk Management responsible for execution of horizontal and vertical risk programs through analytics, risk reporting, and data governance.  The Analytics team within Financial Risk Analytics and Reporting provides critical data driven analytical functions to the risk managers by offering advanced analytics, tools and solutions that enable us to form the independent point of view from the 2nd line of defense.

Role Summary: Risk Management Sr Specialist

This is a quantitative role focused on the design and implementation of analytics and analytical tools to support financial risk management.  The candidate is expected to have strong technical and communication skills with a strong interest in leveraging those skills to build analytical solutions to risk management problems.  The candidate needs to be a team player, have an enterprise mindset, and passion for learning.  At this level, the candidate is expected to execute well-defined analytical work on a timely basis without material errors.  The candidate will not only gain experience delivering analytical solutions, but will also learn about how financial risk is managed in practice and gain exposure to a wide range of businesses and control functions across the Bank.

Key Responsibilities
Support execution of horizontal risk programs within EFR focused on liquidity, interest rate risk, and capital through execution of timely and forward-looking analysis and implementation of analytical tools, including but not limited to:

• Collaborate with risk managers in order to understand their priorities, timelines, requirements for analysis and tools, and feedback on analytical work

• Replication of CFO data sourcing, model implementation, and reporting for key models

• Implementation of sensitivity exercises to measure impact of key assumptions and development of benchmark approaches to address limitations

• Preparation of presentation materials to facilitate review and discussion of risk measurement issues with senior management, auditors, and regulators

• Contributions to peer review of analytical work and code to ensure delivery by team of error-free work that integrates the best ideas

• Provide support and training for analytical tools, and maintain documentation to ensure compliance with Bank policies governing models and applications

• Provide support to broader Financial Risk Analytics and Reporting team as needed to support build of new risk metrics and reports

Key Requirements

• Minimum of 2-3 years of risk management, risk quantitative/qualitative modeling or other experience in the financial services industry

• Proficiency with analysis of financial data and quantitative techniques (linear/logistic regressions, clustering algorithms, data transformation techniques, etc.)

• Proficiency with programming (Python or R) and Excel

• Strong analytical mindset and effective problem-solving skills

• Attention to detail and ability to work with minimal supervision

• Ability to extract, analyze, and merge data from disparate systems

• Experience with data analytics and visualization tools (e.g., Tableau, Alteryx, MicroStrategy)

• Strong personal drive, individual initiative, a sense of urgency, and responsiveness, with a desire to grow, learn, and take on increasing levels of responsibility

• Demonstrates commitment to excellence by anticipating needs, mitigating risks and minimizing potential problems

• Ability to multi-task with excellent time management skills, manage projects and pivot between tactical and strategic tasks

• Prior exposure to liquidity, capital or interest risk management a plus

Core Competencies

• Communication- Can articulately paint pictures & visions of possibilities and likelihoods. Ability to communicate with SMEs as well as senior management and adapt message accordingly.  Can listen to feedback and properly incorporate into work product

• Resilience- Deals effectively with pressure; remains optimistic and persistent, even under adversity. Recovers quickly from setbacks. On occasion required to take an unpopular stand

• Collaboration- Develops networks and builds alliances; collaborates across boundaries to build strategic relationships and achieve common goals. Influencing and negotiating across CFO partners, as well as EFR organization, Compliance & OpRisk, and other verticals (GBAM and Banking) risk colleagues

• Interpersonal Skills- Treats others with courtesy, sensitivity, and respect. Considers and responds appropriately to the needs and feelings of different people in different situations and locations.

Critical Success Measures

• Ability to execute analytical work on a timely basis without material errors in line with team’s strategic vision for implementation

• Ability to communicate effectively with senior management

Skills the Candidate Will Develop

• Candidate will develop deep understanding of data, models, and risk controls around liquidity, interest rate, and capital risk programs

• Candidate is expected to develop extensive network within the GRM and CFO organizations

• Candidate will gain experience with the development and implementation of analytical tools for use by non-technical users in line with best practices and Bank policies

Skills:

• Analytical Thinking

• Credit and Risk Assessment

• Critical Thinking

• Portfolio Analysis

• Decision Making

• Oral Communications

• Presentation Skills

• Technical Documentation

• Written Communications

• Active Listening

• Issue Management

• Liquidity Management

• Monitoring, Surveillance, and Testing

• Regulatory Compliance

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Pay Transparency details

US - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits informationPay range$84,200.00 - $125,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.