Quantitative Finance Manager - Stress Testing Design

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 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!

Job Description:

Global Markets Risk Management serves as independent market risk oversight of the Firm’s trading activities. The Global Market Risk Stress Testing team within this organization is responsible for the implementation and management of critical enterprise processes and analysis to support the global markets business and senior risk management.

The team is seeking a highly motivated individual to support market risk stress testing, including regulatory mandated stress testing activities, formal and ad-hoc scenario analysis. The candidate in this role will have a wide range of responsibilities from evaluating new and emerging risks in the portfolio to ensuring that the Firm surpasses regulatory expectations. This work will require extensive engagement across risk functions and other partners across the Firm. The candidate will also be a key participant in regulatory exams related to stress testing and will become the subject matter expert on key aspects of market risk stress testing. This role will be expected to support the team’s success through an individual contributor role and will have no formal management responsibilities.

Role Responsibilities: 

• Manage the end-to-end scenario design process by indirectly leading the design team
• Effectively designing and communicating enterprise-wide and GMIR requested scenarios to executive management and business partners
• Partnering with Risk Managers, Counterparty Risk Partners, ESPE, and other forecast teams during the development of market shocks and scenario narratives
• Understanding the Company’s risk identification processes and inventory, as well as the GMIR points of weakness documents to design a customized internal specific scenario
• Integrating requirements for capital adequacy planning, stress testing, and risk appetite monitoring as defined across key international legal entities
• Learning and evaluating the stress methodologies using the mark shock projections, facilitating sensitivity analysis and understanding downstream impacts to losses
• Identification of areas of improvement in the scenario design process and implementation of solutions
• Drive the Scenario Generation governance requirements such as policy and procedure updates as well as quarterly control evidence and other requirements throughout the year

Position Description:

The candidate will support the scenario design processes of the instantaneous Global Market Shock Scenario (GMS) as part of the stress testing team. Duties will include, but are not limited to, providing economic expertise in the development and customizations of internally-designed scenarios (including regulatory submission scenarios and management requested scenarios), conducting research and analyzing complex data to support future scenario work, assessing risks of the Company and how these risks may manifest in a specific scenario, communicating scenario requirements to downstream users, facilitating review and challenge of each scenario’s shocks and narrative, and creating presentation materials for various committees. The candidate will be a key liaison with risk partners and forecasting teams across GMIR. A key requirement of the role will be to develop executive-level presentations, execute on ad-hoc priorities, and coordinate initiatives across GMIR.

Minimum Education Requirement: Master’s degree in related field or equivalent work experience

Required Skills:

• Bachelor’s degree in Economics or Finance, Masters' degree preferred.
• 7+ years of work experience in banking, finance or economic research
• Deep understanding of financial markets and macro-financial linkages
• Strong organization and planning ability with meticulous attention to detail
• Independent thinker who is proactive and takes initiative to overcome obstacles
• Capable of communicating complex economic and financial concepts to audiences with a broad range of technical sophistication
• Strong executive presence and ability to work with senior leaders in a matrixed environment
• Excellent interpersonal and written communication skills
• Collaborative, team player with the ability to connect across groups
• Ability to effectively work under pressure and successfully manage multiple projects in a fast-paced environment
• Strong PowerPoint and Excel skills

Desired Skills:

• Prior stress testing or scenario design experience
• Knowledge base of data sources, ability to research recent and historical developments
• Prior experience leading a team and/or large projects

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

Shift:

1st shift (United States of America)

Hours Per Week: 

40