Quantitative Finance ManagerNew York, New York;Jersey City, New Jersey; Charlotte, North CarolinaJob 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 :Model Validation Lead (“MVL”) oversees the team conducting independent validation and analytics for AML models. The MVL is responsible for providing risk oversight, acting as a subject matter expert and the second line of defense overseeing model performance, model risk and model governance. The MVL provides advice and counsel to the LOB and Risk Partners and is expected to help establish model risk management policies, limits, standards, controls, metrics and thresholds within the model risk framework. Accountable for managing execution of model risk framework activities including, but not limited to, independent validation and ongoing monitoring reviews for models for the LOB. The candidate should exhibit familiarity with industry practices and have knowledge of up-to-date AML techniques. The candidate should be able to provide both thought leadership and hands-on expertise in methodology, techniques, and processes in applying statistical and machine learning models to manage the bank’s AML models and model systems.The position will be responsible for: Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review. Conducting governance activities such as model identification, model approval and breach remediation reviews. Providing hands-on leadership for projects pertaining to statistical modeling and machine learning approaches to effectively challenge and influence the strategic direction and tactical approaches of these projects. Communicating and working directly with relevant modeling teams and their corresponding Front Line Units; communicating and interacting with the third line of defense (e.g., internal audit) as well as external regulators, as needed. Writing technical reports for distribution and presentation to model developers, senior management, audit and banking regulators. Acts as a senior level resource or resident expert on analytic/quantitative modeling techniques used for Anti-money laundering and actively participates in senior level committees; provides guidance to junior team membersMinimum Education Requirement: Master’s degree in related fieldRequired Qualifications & Skills: PhD or Masters in a quantitative field such as Mathematics, Physics, Finance, Engineering, Computer Science, Statistics. Advanced knowledge and 7+ years of experience in building and understanding of Anti-Money Laundering models and systems Strong familiarity with the industry practices in the field and knowledge of up-to-date Anti Money Laundering techniques CAMS certification (preferred) Fluency in Python, SAS and SQL Excellent written and oral communication skills with stakeholders of varying analytic skill and knowledge levels.Shift:1st shift (United States of America)Hours Per Week:40Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCPEEOSupplementFinalJRFQA508c.pdf) .Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.To view Bank of America’s Drug-free Workplace and Alcohol Policy, CLICK HERE .This communication provides information about certain Bank of America benefits. Receipt of this document does not automatically entitle you to benefits offered by Bank of America. Every effort has been made to ensure the accuracy of this communication. However, if there are discrepancies between this communication and the official plan documents, the plan documents will always govern. Bank of America retains the discretion to interpret the terms or language used in any of its communications according to the provisions contained in the plan documents. Bank of America also reserves the right to amend or terminate any benefit plan in its sole discretion at any time for any reason.
