Job Description:
Job Title: Senior Quantitative Analyst / Data Scientist
Corporate Title: Vice President
Location: Bromley / Chester / Dublin
Company Overview:
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 a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and making an impact in the communities we serve.
Bank of America is committed to an in-office culture with specific requirements for attendance and flexibility 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
Responsible for developing and maintaining quantitative/analytic models and applications to support the firm's risk management efforts. This role focuses on developing operations/data management policies, strategies, and operational guidelines related to various financial products, analysis, tracking, and reporting of risk metrics. Candidates typically hold advanced degrees in applied mathematics, statistics, or similar quantitative disciplines. The quantitative analytic team develops the theory and mathematics behind models. The role may report to the Quant Operations Executive or Quantitative Operations Manager.
Responsibilities:
1. Conduct independent assessments on model opportunities, including building analytical frameworks to test AML models for high-risk detection, data analysis, and modeling.
2. Optimize model parameters or collaborate with developers to recalibrate models, aiming to reduce false negatives and improve alert accuracy using business intelligence.
3. Evaluate the organization’s model risk management framework, including development, validation, implementation, and monitoring controls.
4. Manage ongoing AML screening model monitoring by setting performance metrics and thresholds, providing insights on model performance, and engaging with stakeholders when metrics breach standards.
5. Assist in onboarding new applications/clients into the screening platform, understanding data types, and ensuring data is mapped correctly for sanctions screening.
6. Manage multiple initiatives, understand screening needs across projects, and coordinate analytical support and model development status.
7. Collaborate with cross-LOB teams to integrate data science solutions into AML systems, including data management.
8. Work with technology teams on requirements, testing, implementation, and staying updated on industry trends and technologies, including documentation.
9. Communicate work through reports, audit templates, and presentations to stakeholders and leadership. Collaborate effectively with other analysts and data scientists.
Skills:
* Experience in AML models, including screening, sanctions, transaction monitoring, or fraud detection, along with data visualization and mining skills.
* Attention to detail with knowledge of AI/machine learning concepts and implementation strategies.
* Strong analytical, technical, communication, and auditing skills.
* Understanding of quantitative modeling, financial instruments, and risk assessment methodologies.
* Experience in data analytics and interpreting large datasets.
* Programming skills in Python, Spark, R, SAS, SQL, and tools like SQL Server, Toad, PyCharm, Jupyter Notebook, Hue, Beeline.
* Proficiency with MS Office and visualization tools.
* Experience with project management and version control tools such as Horizon, GIT, and Bitbucket.
Desired Skills and Experience:
* Degree in finance, economics, mathematics, statistics, or related fields; advanced degrees preferred.
* Knowledge of screening program requirements.
* Ability to work with global teams, under pressure, and adapt to change.
* Experience working with diverse teams and backgrounds.
* Experience in banking and markets business processes is a plus.
* Experience with screening applications like Fircosoft.
* Certified Anti-Money Laundering Specialist (CAMS) certification is a plus.
Benefits of Working at Bank of America
Details about benefits in the UK, including healthcare, pension, childcare, flexible benefits, emotional wellbeing support, charitable giving, cultural memberships, and community volunteering opportunities.
Additional Information
Bank of America emphasizes integrity, conduct standards, and equal opportunity employment. Candidates are encouraged to communicate any accommodation needs during recruitment.
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