Associate Jobs in Mumbai - Bank of America Merrill Lynch

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Bank of America Merrill Lynch
Last Date 15 Sep 2021
This Job is Expired

Bank of America Merrill Lynch - Job Details

Date of posting: 15 Jul 21
Job Description

Overview (Bank overview, GBS India overview, Function Overview)*

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.

We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.

Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.

  • BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

    Process Overview

    The team in India is an extension of Bank of America’s Global Risk Organization. India team provides analytical and technological support to the Model Risk Management desk.

    Job Description

    The bank is looking for a quantitative finance analyst in the Independent Risk and Control Function (IRM/CF) Model Risk Management team. IRM/CF Model risk management team covers all aspects of model validation for credit risk models, capital models, loss forecasting models, treasury and balance sheet models, wholesale models, PPNR models, operational risk models and all control function models including fraud models, Anti-money-laundering models & other compliance risk models, across financial products and markets. Based on their prior experience and the team’s requirement, the candidate will work on one or more of these areas.

    The candidate will interact with Model Developers, Model Owners and Global Control Functions to prioritize and complete validation activities and to effectively maintain and oversee the model risk governance processes. The candidate is also expected to provide support to senior management during regulatory and audit exams and submission requirements.

    Responsibilities

    The candidate will be responsible for a broad range of model validation activities, including:
    • Review, critical assessment and challenge of models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation and documentation
    • Development and implementation of effective testing plans and testing code to critically challenge models through empirical analyses and to verify model implementation
    • Review and critical assessment of ongoing model monitoring activities
    • Writing of technical reports for distribution and presentation to model developers, senior management, audit and banking regulators
    • Coaching of junior staff members while leading validation projects.

    Requirements
    • Education: Masters or Ph.D. degree in Statistics, Mathematics, Financial Mathematics, Economics, Computational Finance, Engineering Physics etc.
    • Educational institutes: Top tier – IITs, NITs, Indian Statistical Institutes etc.
    • Certifications (preferred but not mandatory): FRM, CFA etc.
    • Experience Range: 5 – 7 years
    • Foundational skills: 
      • Minimum of 2 or more years of experience in the quantitative modeling and/or validation field
      • Strong Quantitative skills –
        • Strong foundation in Mathematics, mainly Probability theory, calculus and linear algebra
        • Proficient in statistical analysis and modeling
        • Expertise in cross-sectional and time-series econometrics
      • Experience with retail products including mortgage, credit card and auto loans
      • Experience with statistical regression and/or forecasting models
      • Strong knowledge of financial instruments and financial risk management principles
      • Strong programming experience using SAS, R and/or MATLAB
      • Strong Written and Oral Communication
        • Ability to follow up with issues and summarize discussions
        • Ability to communicate clearly, effectively, and work well with people at all levels
      • Attention to details
      • Willingness to learn
      • Strong work ethic
      • Team player
    • Desired skills:
      • Familiarity with applicable regulatory guidance on model risk management, stress testing, and Basel requirements
      • 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 PM – 9 PM IST

    Job Location: Mumbai / Gurugram
  • Job Summary

    Job Type : 0
    Hiring Process : Face to Face Interview
    Who can apply : Experienced (3+ Years)
    Country : India

    About Bank of America Merrill Lynch

    Bank of America Merrill Lynch
    This Job is Expired
    This posting is done directly & exclusively on Freshersworld.com. We do not entertain any unsolicited calls or enquiries from any consultants, other portals or TPOs. Notice: This recruitment is FREE. if the recruiter charges any fees, please write us info@freshersworld.com
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