Quantitative Services Analyst

2 weeks ago

Toronto, Canada Bank of America Full time

Bank of America is one of the world's largest 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. Following the acquisition of Merrill Lynch on January 1, 2009, Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world. In Canada, Bank of America has a strong market position on which to continue to build, as well as a clear commitment to the market.

The Quantitative Services (QS) team is responsible for the Model governance and Volcker product monitoring for all Global Markets (GM) trades.

As part of Model Governance, QS monitors the model used for official valuation to identify (i) products that are not valued using an approved model, and (ii) models that are not used within their approved restrictions. On a monthly basis, QS reports the result of the monitoring and reviews the model exceptions with different stakeholders (i.e. Model Risk, Quants, Traders and Tech) as part of the Model Control Working Groups (MCWG).

As part of the Volcker Monitoring, QS performs a daily monitoring all GM trades against the Approved Product List (APL) for each Volcker Trading Desk (VTD) and Legal Entity. QS is responsible for the overall governance of the APL Volcker reporting, which includes daily escalation of issues / exceptions, management of weekly and monthly reporting to the Volcker Control Forums (VCF).

**Responsibilities**

Perform the Model Governance and Volcker Product monitoring, which includes daily escalation of issues / exceptions, and management of monthly reporting and tracking:

- Monitoring of trades to identify products that are not approved for the Volcker Trading Desk (VTD) or Legal Entity.
- Monitoring of Volcker Permitted Activities.
- Monitoring of the models used for official valuation and if they are used within the approved restrictions.
- Investigating any product/model issues to identify if they are true breaches or data quality issues.
- Escalation of issues and exceptions to Global Market Risk (GMR), Model Risk Management (MRM), Trading desks, Front office Quants and tech teams.
- Identify opportunities for process improvements and make recommendations for implementation.
- Work with technology teams to enhance the monitoring process and implement new product and model restriction monitoring.
- Support the development of QS product and model governance review policies and procedures, including documentation of the underlying data requirements, process flows, and reporting requirements across the platform.
- Overall governance of the reporting and tracking of product and model issues.

**Requirements**:
**Desired Skills**
- Bachelor’s degree - preferably in Business, Finance or Economics.
- Working knowledge of derivatives, trade attributes, and trade life cycle events.
- Proficiency working with Excel spreadsheets and Databases.
- Experience working with VBA, SQL, Python, or any other scripting language.
- Visio and Tableau skills would an advantage.
- Writing process documents and BRD documents.
- Running UAT testing and basic project management skills.
- Ability to consistently deliver high quality output in an uncertain environment.
- Strong problem resolution skills.

**Additional Qualifications**
- Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.
- Excels in working among diverse viewpoints to determine the best path forward.
- Experience in connecting with a diverse set of clients to understand future business needs - is a continuous learner.
- Commitment to challenging the status quo and promoting positive change.
- Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.
- Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.

**What Bank of America Offers**

Bank of America embodies a culture that extends from how we think, to how we behave, and to how we measure performance. By achieving excellence - in everything we do, every time we do it - we deliver the full value of Bank of America for our clients, our shareholders and our employees.

Bank of America places a high value on talent and on maintaining a culture defined by meritocracy. For these reasons, it is deeply committed to professional development, opportunity and accountability at all levels of the organization.

**Bank of America is an Equal Opportunity Employer.**

**Job Band**:
H6

**Shift**:
**Hours Per Week**:
37.5

**Weekly Schedule**:
**Referral Bonus Amount**:
0

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