Risk Analysis Specialist II
Overview of Global Risk Analytics
Bank of America Merrill Lynch has an opportunity for a Risk Analysis Specialist (B4) 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 Enterprise Risk Analytics
As a part of Global Risk Analytics (GRA), Enterprise Risk Analytics (ERA) is responsible for the development of cross-business holistic analytical models and tools. ERA consists of the following teams:
• Economic Scenario Generation (ESG) provides consistent and granular scenario generation capabilities for economic and market variables that enable multiple “what-if” outcomes for government regulators and other business uses.
• Enterprise Portfolio Analytics (EPA) provides portfolio surveillance visualization tools, utilizing advanced analytics (artificial intelligence/machine learning/natural language processing), to provide decision making support around the credit cycle, geo-intelligence, and thematic “what-if” analyses. EPA’s tools also support Enterprise strategic risk appetite and limits decisions for the bank’s risk and capital frameworks.
• Concentration Risk provides capital estimates to support annual regulatory requirements and legal entity-level capital management using tools and techniques focused on identification, measurement, and mitigation of concentration risks across countries, regions, sectors, and industries.
• Enterprise Capital Risk Analytics manages model performance monitoring and capital model issue resolution.
• Compliance Modelling & Analytics supports Enterprise needs around Fair Lending and Global Financial Crimes Compliance.
• Central Quantitative Group (CQG) provides sophisticated quantitative solutions for ERA clients. The group often partners with other teams within and outside GRA to provide these solutions.
• Industry Research performs fundamental research on relevant sector themes and supports industry specific macro variable generation
Seeking candidate to work in the Industry Research team as part of ERA. The role involves covering key Industry sectors from a fundamental perspective opining on key industry trends and how these may influence the firm. This could include:
• Identifying key issues affecting companies within an industry and carrying out analysis to assess the potential impact on the Bank’s exposure and activities;
• In addition to industry coverage responsibilities, leading and coordinating certain team-wide initiatives focusing on specialized topics
• Guiding and mentoring junior colleagues on the team.
• Sourcing data from partners outside the team to support conclusions (economists, analytics teams, equity and credit researchers);
• Opining on short and long term outlook for output and employment in the industry sector.
• This job requires initiative and independent judgment to identify the key drivers of an industry segment (and how they may be changing and evolving) and the application of both quantitative and qualitative analysis.
Core responsibilities will include:
• Identifying key industry themes that are worthy of further investigation and working with Credit Analysts, Research Analysts, Economists and industry thought leaders to develop them.
• Relating these themes to the Bank’s credit exposure and modelling approaches (e.g. CCAR, CECL), where applicable.
• Seeking out new, value-added, and/or unusual sources of information
• Leveraging robust internal bank data sets and developing clear conclusions
• Identifying high frequency data sets to augment industry outlooks and forecasts
Required Education, Skills, and Experience
Successful candidates will possess the following skills:
• Primary requirements are ability to identify key industry drivers, excellent quantitative skills and judgment in the field of research. Prior experience in a financial research-orientated role (e.g. Equity Research, Credit Research, buy-side or sell-side) is a plus.
• A keen interest in markets, some experience in company financial analysis and investment strategy is a plus
• The candidate must be able to thrive in a fast-paced and intense environment, be intellectually curious about the drivers of industry & company performance and consumer behavior, and be able to relate this to the Bank’s lending portfolio and activities
• Strong presentation, writing and spreadsheet skills
• Must be an expert in MS Excel, some experience working with statistical packages and/or programming experience would be an advantage
• Excellent communication skills, written and verbal
• Strong attention to detail and the ability to multi-task effectively
• Must work well in a collaborative team environment and be exceptionally driven
Desired Skills and Experience
The ideal candidate will possess the following skills and experience
• CFA designation (or in process) would be an advantage
• Some knowledge of Tableau, SQL, Python.
• Some understanding of current US regulatory environment, including but not limited to CECL and CCAR
**We are hiring for a variety of levels within our Enterprise Risk Analytics team. If interested in learning more please apply!**