As part of the Enterprise Scenario Planning and Execution (ESPE) Qualitative Methodology Review team, the candidate will be responsible for the execution of key activities (defined as part of the independent review and challenge framework) relating to the assessment of qualitative forecasting models used to support enterprise scenario analysis.
Key responsibilities for the team include:
Working with Lines of Business, Risk Management and Finance to collate a complete inventory of qualitative forecasting approaches employed
Conducting independent assessments and/or reviews of the models
Documenting a clear and detailed review and analysis of assessments - including completion of risk classifications, materiality evaluation and any recommendations / requirements to be incorporated.
Completion of periodic reviews across qualitative models used, in order to ensure they remain current to changing market conditions and incorporate any methodology changes required.
Effectively engaging with key stakeholders to agree on action plans and follow-up reviews, as required, to facilitate executive approvals.
Driving the development of infrastructure, process and procedures to ensure alignment to the independent review and challenge requirements.
Identifying areas for improvement and continued enhancement, and implementing solutions
The candidate will be responsible for managing the independent assessment for a portfolio of qualitative models.As part of the assessment process, the candidate will be required to review, interpret and critically assesses the qualitative models and documentation, in order to evidence suitability and compliance with framework requirements.
The position requires interaction within the Lines of Business, Risk Management and Finance to address inquiries related to qualitative model identification, approach and calibration.In addition to validation activities, ongoing interaction with the model owners and developers will further be conducted in order to understand ongoing performance, assess environmental changes and ensure continued suitability for use.The candidate will also support the execution of key group-wide ESPE deliverables, in order to ensure full alignment and extension of processes across enterprise scenario analysis.
2-5 years of relevant work experience in banking, finance or public accounting
3-5 years of prior stress testing and/or financial analysis experience
Detail oriented with excellent quantitative analytical skills
Strong interpersonal, written communication and presentation skills
Ability to effectively work under pressure and successfully manage multiple activities
Self starter and ability to work high degree of independence
Strong organization and planning ability
Understanding of BASEL III capital rules, CECL/IFRS 9 and cash-flow modeling experience a plus
Degree in in economics, finance or accounting is a plus
MBA a plus
Enterprise Role Overview: Responsible for building, consolidating and reporting stress testing results for EST management. Performs complex analysis related to earnings, balance sheet, capital and liquidity as well as associated risk exposures. Provides analytical support for explaining business/forecast strategies in the context of baseline and stress forecasts. Reviews and analyzes trends in stress results to best understand implications both internal and externally. Understands complex interactions between economic and operational factors and their resulting impact to product, business line and financial results & position of the company. Challenges assumptions and results and is comfortable communicating and influencing business partners based on these results. Can quickly build credibility with partners. Duties primarily include the regular use of discretion and independent judgment. Requires strong analytical, , influencing and communication skills. Comfortable with a dynamic, fluid work environment with tight deadlines. Experience with risk management, finance and/or accounting preferred.
Bank of America is one of the world's largest financial institutions, serving individuals, 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. The company serves approximately 56 million U.S. consumer and small business relationships. It is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading.
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