Sr. Quantitative Finance Analyst - Consumer Loss Forecasting Analytics
Company: Disability Solutions
Location: Charlotte
Posted on: April 20, 2024
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Job Description:
Job Description:Job DescriptionBank of America Merrill Lynch has
an opportunity for a Sr. Quantitative Financial Analyst within our
Global Risk Analytics (GRA) function. GRA is a sub-line of business
within Global Risk Management (GRM). GRA is responsible for
developing a consistent and coherent set of models and analytical
tools for effective risk and capital measurement, management and
reporting across Bank of America. GRA partners with the Lines of
Business and Enterprise functions to ensure that its models and
analytics address both internal and regulatory requirements, such
as quarterly Enterprise Stress Testing (EST), the annual
Comprehensive Capital Analysis and Review (CCAR), and the Current
Expected Credit Losses (CECL) accounting standard. GRA models
follow an iterative and ongoing development life cycle, as the bank
responds to the changing nature of portfolios, economic conditions
and emerging risks. In addition to model development, GRA conducts
model implementation, data management, model execution and
analysis, forecast administration, and model performance
monitoring. GRA drives innovation, process improvement and
automation across all of these activities.Overview of Consumer Loss
ForecastingThe Consumer Loss Forecasting (CLF) team is part of
Global Risk Analytics (GRA). CLF provides analytical insights,
enabling improved Credit Risk management. The primary delivery
vehicle is through consumer loss forecasts. , These forecasts are
utilized for allowance setting, financial planning, Comprehensive
Capital Analysis & Review (CCAR) submission, and other business
decision-making. In order to deliver these insights, the team:---
Conducts research and analysis to improve understanding and
assessment of loan portfolios, models used and forecast results---
Develops, maintains, and executes select models, quantitative
methods, assumptions utilized in loss forecasting; and associated
tools and reports--- Manages related infrastructure and processes
that enable forecasts and analytics together with Operations---
Partners with Consumer lines of business, and front line Risk,
Allowance, and Finance teams to ensure consistency and
appropriateness of the team's various processesThis role plays a
critical part in the Bank's stress testing, financial planning, and
risk management activities. It requires a strong understanding of
consumer credit business with the ability to apply this knowledge
to data and quantitative analysis, combining business acumen with
analytical and statistical skills to assess, explain, detect,
quantify risks and uncertainties, communicate key insights and
discoveries to broader loss forecast community on material
discoveries and drive well-informed risk management decisions.The
Sr. Quantitative Financial Analyst interacts with a wide variety of
stakeholders including risk managers, model developers,
statisticians and data analysts. The Analyst will
Keywords: Disability Solutions, Charlotte , Sr. Quantitative Finance Analyst - Consumer Loss Forecasting Analytics, Accounting, Auditing , Charlotte, North Carolina
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