Job Description:
About Us
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
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Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
Process Overview
Analytics, Risk and Quant (ARQ) group supports global businesses of the Bank with analytical, quantitative and risk management solutions. The division comprising of highly qualified employees operates from five locations, Mumbai, Gurugram, Hyderabad, Chennai and GIFT. Quants team within ARQ is primarily involved in model development, model governance, and model operations. Team also performs quantitative analysis, designs, and implements platforms and tools for various verticals of Bank of America.
Job Description
Requirement for a seasoned leader to manage the Global Financial Crime Modeling and Analytics (GFCMA) team within Global Risk Analytics (GRA). The GRA team comprises multiple sub-groups working with various business partners on model development and governance including GFCMA, Global Markets risk, alternate modeling and data science models, apart from economic data research and model engineering. The teams work on model development/governance, data analytics and research for insight generation and data science models. The qualified candidate should have hands-on experience in quantitative fields and have experience in managing team(s) comprising highly qualified individuals.
Responsibilities
The qualified candidate will be responsible for a broad range of activities as follows:
- Performing in-depth analysis on the Bank's risk model results using various quantitative tools such as back testing, benchmarking, and sensitivity analysis
- Articulating the overall holistic picture of model performance, with clear conclusions regarding accuracy and remediation areas as required
- Communicating model results to model stakeholders, including risk management, model development, model risk, senior management, and regulators
- Supporting model development by confirming remediation of model issues prior to implementation
Requirements
- Education
- Bachelors/Masters or PhD in a quantitative field such as Mathematics, Physics, Finance/Economics, Computer Science, Statistics, or related field from Top tier institutes such as IITs, NITs, Indian Statistical Institutes etc.
- Certifications If Any FRM, CFA, CQF etc.
- Experience Range : 12+ years
- Foundational skills
- Strong Quantitative and Leadership skills
- Minimum of 5 years' experience in leading a team of quantitative analysis and/or risk managers.
- Advanced knowledge of statistical and machine learning methods, techniques, formulas, and tests.
- Fluency in Python, SAS and SQL.
- Knowledge and experience in developing or validating wholesale models. Strong familiarity with the industry practices in the field and knowledge of up-to-date wholesale modeling techniques.
- Demonstrated experience in talent management and development.
- Experience with leading external regulator interactions and successfully leading regulator examinations.
- Excellent written and oral communication skills with stakeholders of varying analytic skill and knowledge levels.
- Strong financial services and risk management experience.
- Strong analytical & problem-solving skills.
- Inquisitive nature, ability to ask right questions and escalate issues.
- Ability to follow up with issues and summarize discussions
- Attention to details
- Willingness to learn
- Strong work ethic
- Team player
- Desired skills
- Speaking / presentation skills in a professional setting
- Ability to communicate clearly and effectively, and influence others
- Ability to produce high quality technical documentation
Work Timings
12.30pm to 9.30pm
Job Location
Chennai