Bank of America Risk Analysis Specialist - Model Performance in Chicago, Illinois

Job Description:

Global Risk Analytics - Global Markets (GRA-GM) sits within BofA Risk Control and is an enterprise wide function responsible for the development and monitoring of all global markets analytics used across Risk and Capital. Within GRA-GM, the Model Performance team is responsible for ongoing monitoring and analysis processes to assess model usage, model accuracy and the overall performance of the exposure platform. This role sits within the Model Performance team – focussing on the Counterparty Credit Risk models and insight gained through execution of backtesting in particular. Responsibilities include :

  • Performing in-depth analysis on the bank’s counterparty exposure risk models through backtesting.

  • Driving incremental improvement to the backtesting platform.

  • Providing analytical support on various model testing and monitoring initiatives.

  • Producing model performance reports for senior management.

  • Playing a key role in the investigation process of the models defects and exceptions - raising new issues and tracking existing issues with the model development team.

Collaborating with other groups in the model performance team to enhance the model limitation and model monitoring system.

Required Skills & Experience:

  • Bachelors degree

  • 2-5 year working experience in a relative field (Counterparty Credit Risk, Middle Office Risk, Front Office Market Risk, etc)

  • Experience in data analysis, with strong research and analytical skills

  • Broad financial product knowledge

  • Strong programming skills (Python, C++, SQL, or equivalent object-oriented programming)


  • Strong written and oral communication, interpersonal and organizational skills and ability to build and maintain relationships with personnel across areas and regions

  • Strong work ethic and ability to drive results

  • Ability to multitask with strong time management skills

Enterprise Role Overview:

Responsible for performing more complex analysis and is engaged in the development of modeling that maximizes profits and asset growth and minimizes credit and operating losses and other risk exposures. Provides analytical support on various product strategies to ensure company goals are met. Coordinates the production of performance reports for Senior mgt. Reviews and analyzes trends in current population distributions and recommends strategies. May participate in or develop more complex program models to extract data and use databases to provide statistical and financial modeling. Analyzes portfolio trends, concerning credit score cutoffs, loss trends, portfolio dynamics, and bureau scoring criteria. Will participate in the rollout of company-wide pilot programs developed as a result of programmed models. Duties primarily include the regular use of discretion and independent judgment. Programming experience such as SAS, SQL or Micro Strategy and Master's Degree or large data experience preferred. 2-5 year experience

Posting Date : 03/14/2018

Location :

Chicago, IL, 135 S LA SALLE ST (IL4135),

  • United States

Travel : No

Full / Part-time : Full time

Hours Per Week : 40

Shift : 1st shift

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