Quantitative Financial Analyst
New York, New York;Charlotte, North Carolina
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 a diverse and 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.
At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!
Job Description:
This job is responsible for conducting auditing activities of Artificial Intelligence (AI) risk management across the company and for specific business units or control functions. Key responsibilities include conducting the audit assessment of effectiveness of controls supporting the AI model life cycle including AI risk assessment, AI and model governance, model development, validation, on-going monitoring, and model change management. Job expectations may include the ability to influence management's strategic direction and actions to strengthen the model risk control environment.
Responsibilities:
Conducts audit assessment of the company's AI governance framework and routines
Conducts audit assessment of effectiveness of controls supporting the use of AI models and application such as AI model life cycle including model governance, development, validation, on-going monitoring, and model change management.
Performs review of model development analysis and on-going model performance testing to assess the conceptual soundness of the AI model methodology, reasonableness of the model assumptions and the completeness and accuracy of the model testing.
Conducts review of the AI model validation analysis to assess the effectiveness of the model validation process. Assesses the completeness and reasonableness of the model assumptions, limitations and independent model testing.
Provides insightful challenges to management, identifies control deficiencies or enhancement opportunities, conducts root cause investigation, documents and reports audit findings.
Works closely with teammates from multiple internal audit teams to ensure a comprehensive coverage of model uses across the various lines of business of control functions.
Works closely with model stakeholders and senior management with regard to communication of audit assessment outcomes.
Technical Skills:
Data Algorithm
Data Analysis, Interpretation & Decisioning
Executive Report Writing
Testing & Workpaper Documentation
Model Risk Principles
Technology Risk Principles
Data Risk Principles
Skills:
Critical Thinking
Quantitative Development
Risk Analytics
Risk Modeling
Technical Documentation
Adaptability
Collaboration
Problem Solving
Risk Management
Test Engineering
Data Modeling
Data and Trend Analysis
Process Performance Measurement
Research
Written Communications
Minimum Education Requirement: Master's degree in related field or equivalent work experience
Shift:
1st shift (United States of America)Hours Per Week:
40Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
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