Risk Analysis Specialist II

Risk Analysis Specialist II Charlotte, North Carolina;Chicago, Illinois; Atlanta, Georgia 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: This job is responsible for supporting data and technology requests, complex reporting and analysis, and modeling to manage risk and minimize credit and operating losses. Key responsibilities include reviewing and analyzing portfolio trends, supporting the development of more complex databases or queries to extract data, and supporting the production of data for internal and external reporting needs. Job expectations include working with Technology to implement changes necessary to support ongoing data needs. Responsibilities: Supports the development and execution of reporting to allow Risk and business partners to effectively identify and manage risk Analyzes trends and supports the data design, portfolio trends, loss trends, and portfolio dynamics to ensure alignment with business strategies Provides analytical support on various product strategic initiatives affecting multiple Risk functions and lines of business to ensure company goals are met Participates in the development of database production processes and performance reports for senior management, using data mining and other advanced analytical techniques to aggregate data Supports with responding to complex ad-hoc requests for information from both internal and external parties Provides support on cross-functional efforts to remediate data quality issues Monitors the outputs of controls and investigates alerts from the control checks Skills: Attention to Detail Business Intelligence Data and Trend Analysis Risk Analytics Risk Management Adaptability Collaboration Continuous Improvement Data Visualization Project Management Business Acumen Issue Management Regulatory Relations Stakeholder Management Technical Documentation Risk Analysis Specialist II - Operations (B5) Overview of Global Risk Analytics Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist 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 Risk Consumer Risk is primarily responsible for: • Oversight and delivery of key regulatory reviews such as the Current Expected Credit Losses (CECL) accounting standard and the Comprehensive Capital Analysis & Review (CCAR), as well as other strategic initiatives, including data and infrastructure development and maintenance • Planning and delivery of a coherent model risk management framework and infrastructure across Consumer. These efforts include the development of one universal platform for seamless model development and implementation, and improvements to the quality and consistency of the data sourced for all development and production purposes • Developing and maintaining risk and capital models and model systems across Consumer product lines. Models and model systems provide insight into various risk areas, including loan default, exposure at default (EAD), loss given default (LGD), delinquency, prepayment, balances, pricing, risk appetite, revenues and cash flows • Developing and implementing quantitative solutions on strategic Consumer Risk platforms. Outputs include GRA libraries that perform consumer risk model calculations, analytical tools, processes and documentation • Conducts research and analysis to improve understanding and assessment of loan portfolios, models used, and forecast results • Partners with Consumer lines of business, and front line Risk, Allowance, and Finance teams to ensure consistency and appropriateness of the team's various processes Overview of the Role As a Risk Analysis Specialist on the Consumer Risk team, your main responsibilities will include: • Managing a portfolio of data intensive operational processes that span multiple complex technologies and infrastructures • Building and running operational processes, across large complex multi-sourced data, often on a wide range of quantitative models using applications and coding based solutions • Managing and monitoring controls across model execution and / or the sourcing and provisioning of complex data for multiple end-users • Managing cycle-over-cycle executions and shaping the strategic direction of operations in a highly regulated environment • Interacting with multiple stakeholders to drive consistent on-time delivery of well-considered and thorough solutions, often with short delivery times • Leveraging technical skills to improve, enhance, and automate existing processes • Providing regular updates to various stakeholders and senior leaders Required Skills • Masters' degree in a quantitative discipline • 2+ years of experience in model development, model validation, statistical work, data analytics or quantitative research, or PhD Ability to manage and deliver: • Cycle-over-cycle operational processes across data provisioning, model execution, and model performance monitoring • Close collaboration with change agents driving operational excellence through strategic change • Process execution while complying with various policies and regulations • Code development and programming with tools such as Python, PySpark, SQL, Hadoop, Hive • Additional experience with Unix/Linux, Shell Scripting, and SAS a plus Strong operations management skills and techniques, including: • Proficiency in the management of the full project life cycle - from inception to full technical and process implementation • Proficiency in operating in a business and technical environment Demonstrated personal qualities including: • Strong understanding of process controls and safeguards • Confident self-starter • Quick learner and intellectually curious • Strong communication skills, both oral and written • Strong team player, able to lead and follow • Strong influencing skills Desired Skills • Experience working for a financial institution; knowledge of retail banking products, services, processes, and systems • Knowledge of model development / model implementation lifecycle • Experience with data analytics / software development lifecycle tools (i.e. Alteryx, Tableau, Horizon / JIRA, etc.) • Ability to deliver large scale projects involving changes to analytical processes, quantitative models, complex technology platforms, and analytical tools Key Role Performance Measures • Anticipation - Aware of downstream and upstream processes, pre-empts issues, acts on the front foot • Analysis - Understands results, has instinct for errors/anomalies, can contextualize easily • Adoption - Agent for change, creates plans, inventive, tests well, measures twice cuts once • Adaptiveness - Reacts well to variation or curve balls, has versatility and applies solutions appropriately, not only identifies / anticipates road blocks but knows how to solve for them • Articulation - Clear structured thorough communication, able to tailor messaging for a varied audience, can express things in different ways, uses communication to influence and get buy-in • Application - Delivers results, understands the objectives and executes flawlessly, requires little hand holding, is consistent in delivery • Adjudication - Management skills, judges and measures performance well, spots / recruits talent, can train / nurture / develop talent • Alliance - Works as a team internally and externally, forges trusted relationships, is respectful / empathetic / flexible to others, delivers together with collaboration • Accountability - Can set success criteria, develop metrics/measurement techniques well, identify the need and build and operate to SLAs, always aware of "how we are doing" • Authority - Commands respect through thought / articulation / delivery, is seen as a leader, can influence others and take them on a journey, resolves conflict without tension or contention Shift: 1st shift (United States of America) Hours Per Week: 40 Bank 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 ( . To view the "EEO is the Law" Supplement, CLICK HERE ( . View the LA County Fair Chance Ordinance ( . 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.

Created: 2024-11-05