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 analyzing the price testing methodology of complex instruments and risks. Key responsibilities include partnering with Product Finance, Technology and Risk teams to develop valuation control methodologies and tools and, monitoring the valuation and pricing risk of portfolios. Job expectations include monitoring market liquidity, pricing dynamics of traded instruments and inherent risks, and ensuring valuation methodology is consistent with risk replication, trading and hedging strategies and, leveraging understanding of the operations of valuation models.
Line of Business Job Description:
Individual Contributor responsible for the price testing methodology of complex instruments / risks. Works with BFC,QSG and Technology teams to develop valuation control methodologies and tools. Actively monitors the valuation / pricing risk of these portfolios. Understands the liquidity of the market and pricing dynamics of the traded instruments and risks. Ensures that valuation methodology is consistent with risk replication and trading / hedging strategy. Understands the operation of valuation models at detail level.
Responsibilities:
• Develops and enhances the quantitative methodologies for Independent Price Verification (IPV) and associated Fair Value and Prudent Valuation Adjustments
• Supports Front Office model governance by reviewing model limitations and potential impact on Fair Value
• Implements systematic Valuation Control processes for specific products
• Drives operational excellence and innovation of valuation control processes
• Defines Fair Value Hierarchy classification and justification, creating the frameworks products, risks, or and portfolios
• Leverages expert knowledge of financial markets and products, applying a quantitative background to critically evaluate the IPV results and support resolution of IPV differences
• Executes Front Office model governance through the review of model limitations and potential impact on Fair Value
Skills:
- Analytical Thinking
- Attention to Detail
- Data Modeling
- Risk Analytics
- Risk Modeling
- Business Acumen
- Financial Forecasting and Modeling
- Price Verification and Valuation
- Problem Solving
- Scenario Planning and Analysis
- Business Analytics
- Consulting
- Influence
- Reporting
Required Qualifications:
- Minimum 2 years of risk/ valuation controls and methodologies
Desired Qualifications:
- Commodities, derivatives and financial product knowledge
- Python coding
- Master’s degree is highly preferred
Minimum Education Requirement : Bachelors' degree in related field
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency details
US - NY - New York - 1100 Ave Of The Americas - Two Bryant Park (NY1540)
Pay and benefits information
Pay range
$99,000.00 - $158,700.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.
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.