Quantitative Operations Associate
Company: Disability Solutions
Location: Charlotte
Posted on: September 28, 2024
Job Description:
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. Responsible Growth is how we run our company and
how we deliver for our clients, teammates, communities and
shareholders every day.One of the keys to driving Responsible
Growth is being a great place to work for our teammates around the
world. We're devoted to being a diverse and inclusive workplace for
everyone. We hire individuals with a broad range of backgrounds and
experiences and invest heavily in our teammates and their families
by offering competitive benefits to support their physical,
emotional, and financial well-being.Bank of America believes both
in the importance of working together and offering flexibility to
our employees. We use a multi-faceted approach for flexibility,
depending on the various roles in our organization.Working at Bank
of America will give you a great career with opportunities to
learn, grow and make an impact, along with the power to make a
difference. Join us!Job Description:Responsible for developing
quantitative/analytic models and applications in support of the
firm's risk management effort. This role focuses on the development
of operations/data management policies, strategies and operational
guidelines for the organization's various financial products as
they relate to the analysis, tracking, and reporting of various
risk metrics. This role often possesses an advanced degree in
physics, applied mathematics, statistics/probability or another
heavy quantitative discipline. Quantitative analytic staff is
focused on and responsible for the development of the theory and
mathematics behind various models. Individual Contributor and
reports to Quant Operations ManagerSkills:
- Analytical Thinking
- Business Intelligence
- Data Modeling
- Data Visualization
- Data and Trend Analysis
- Attention to Detail
- Collaboration
- Data Management
- Data Mining
- Presentation Skills
- Consulting
- Problem Solving
- Risk Management
- Stakeholder Management
- Technical DocumentationLine of Business Job
Description:Responsible for independently conducting quantitative
analytics and assists in complex modeling projects. Provides
development of critical components in E2E model development,
analytic processes, or system approaches. Creates documentation for
all activities and may work with technology staff in design of any
system to run models developed. Incumbents possess excellent
quantitative/analytic skills and can influence strategic direction,
as well as develop tactical plans.
- Performs statistical analysis on large datasets and interprets
results using both qualitative and quantitative approaches.
- Conduct an independent assessment by developing models or
building an analytical framework to test AML screening model and
other functions of AML high risk detection operations.
- Primary responsibility is to tune parameters or partner with
model developers to re estimate model(s) to minimize the false
negatives and identify triggers for false-positive Screening alerts
to improve accuracy of model inputs, assumptions, methodologies,
and model outcomes.
- Assess the model risk management framework of the organization,
and controls related to model development, validation,
implementation, and ongoing monitoring.
- Effectively manage the ongoing monitoring of the AML screening
model by setting performance metrics, acceptable thresholds.
Provide insights to the model owner and key stakeholders on the
model performance. Engage with model risk management and LOB
partners to identify causes when the metrics are in breach.
- Assist in on-boarding new applications / Clients into the
Screening platform requiring detailed discussions with various
lines of businesses in understanding the nature and type of data
received from and assist in data mapping into standard data layout
acceptable for Sanctions screening.
- Manage the multiple on-going initiatives from various projects,
understand the Screening needs from the cross-LOB projects, provide
model or analytical requirements to the projects and track the
status of the model development or any analytical support needed
for the projects.
- Collaborate with cross-LOB teams to integrate data science
solutions into existing AML systems.
- Work with technology teams for requirements / testing and
implementing changes to improve / automate processes and stay
abreast of industry trends and emerging technologies.
- Communicate work through formal audit templates, reports, as
well as through presentations to stakeholders and leaders. Work
effectively as a team member with other quantitative analysts or
data scientists within the organization or at the company.Required
Skills:
- Master's or bachelor's degree in Finance, Economics,
Mathematics, Statistics or related quantitative field.
- 3+ years experience in the development, validation, use, and/or
auditing AML Models Screening, economic sanctions, transaction
monitoring, or fraud detection models.
- Awareness of AI / Machine learning concepts and ability to
implement such strategies.
- Excellent analytic, technical, communication and auditing
skills.
- Strong understanding of quantitative modelling concepts,
financial instruments, and risk assessment methodologies.
- Good experience in Data Analytics and interpretation of large
volumes of Data.
- Programming experience with any language like Python, Spark, R,
SAS, SQL and related tools such as SQL Server, Toad, PyCharm,
Jupyter Notebook, Hue, Beeline.
- Experience with MS Suite and any presentation and visualization
tools.
- Experience with Horizon for project management and code control
tools such GIT and bitbucket. Desired Skills and Experience:
- Advanced degrees in a quantitative field.
- Knowledge of Screening programs requirements
- Ability to work with teams spread globally, under pressure,
meet deadlines and navigate change.
- Ability to work and interact with people from a diverse range
of backgrounds and opinions.
- Experience in Global Banking & Markets business process is a
plus
- Experience in screening applications like Fircosoft.
- Certified Anti-Money Laundering Specialist (CAMS)Shift:1st
shift (United States of America)Hours Per Week: 40
Keywords: Disability Solutions, Charlotte , Quantitative Operations Associate, Accounting, Auditing , Charlotte, North Carolina
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