Global Markets Mortgages Model Risk Management Lead
Bank of America
full-time
Posted on:
Location Type: Office
Location: Jersey City • New Jersey, New York • 🇺🇸 United States
Visit company websiteSalary
💰 $203,000 - $318,000 per year
Job Level
Senior
Tech Stack
Python
About the role
- Directs a quantitative team with model coverage of specified focus areas and oversees stakeholder engagement, including team effort in preparation for audit and regulatory exams
- Sets quantitative work priorities in line with the bank’s overall strategy and prioritization
- Identifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation, while providing oversight to managers on reviews
- Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
- Leads and provides methodological, analytical, and technical guidance to effectively challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential risk
- Works closely with model stakeholders and senior management with regard to communication of submission and validation outcomes
- Coordinates team projects, while managing and providing guidance to senior level staff on areas of expertise
Requirements
- Masters' Degree or PhD in quantitative fields such as mathematics, statistics, physics or equivalent
- 5+ years' work experience is required in quantitative modelling and/or validation in pricing models
- In depth understanding of financial mathematics including stochastic calculus and probability theory, as well as derivative pricing and risk models including interest rates and credit risk modelling.
- Exceptional knowledge of financial derivatives, OTC trading and hedging, collateral management, capital management, bank’s operations and regulatory requirements
- Expertise in Mortgages models and products
- Strong coding ability in Python, R, C++ is a plus
- Predisposed to critical thinking, intellectually curious, detailed-oriented, well-organized, quick learning and a team player with good communication skills (both written and verbal)
- Strong communication, team management and direct interaction with regulators experience
Benefits
- This role is currently benefits eligible.
- We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.
Applicant Tracking System Keywords
Tip: use these terms in your resume and cover letter to boost ATS matches.
Hard skills
quantitative modellingmodel validationfinancial mathematicsstochastic calculusprobability theoryderivative pricingrisk modelsPythonRC++
Soft skills
critical thinkingintellectual curiositydetail-orientedwell-organizedquick learningteam playercommunication skillsteam management
Certifications
Masters' DegreePhD