Quant Strategist/Modeler - Mortgages

Company: Disability Solutions
Location: New York
Posted on: February 23, 2025

Job Description:

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. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates' physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!The Quantitative Strategies and Data Group (DQSG) is looking for a VP mortgage prepayment modeler to support expanded deliverables from the Mortgage trading desk.Job Description:This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types. Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products.Responsibilities:

• Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyzes stress scenario results to better understand key drivers
• Supports the planning related to setting quantitative work priorities in line with the bank's overall strategy and prioritization
• Identifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation
• Supports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
• Supports the methodological, analytical, and technical guidance to effectively challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential risk
• Works closely with model stakeholders and senior management with regard to communication of submission and validation outcomes
• Performs statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches
• Global team providing solutions across regions of business and asset classes.
• Responsible for mortgage prepayment model development.
• Detailed design & development of front office analytics platform.
• Opportunities to work on the research and implementation of actionable trading strategies.
• Working entirely in Front Office alongside quant colleagues & trading specialists.
• Support traders, research strategies and operational trading tools.Skills:
  • Competencies and Requirements:
  • Masters or PhD or equivalent level preferred.
  • Proven experience with mortgage prepayment model development.
  • Excellent programming skills in C++, Python.
  • Good business and modeling knowledge across asset classes.
  • Prior experience working in front office is preferable.
  • Ability to work independently when given complex tasks.
  • Excellent communication skills.
  • Excellent mathematical skills.Minimum Education Requirement: Master's degree in related field or equivalent work experienceShift:1st shift (United States of America)Hours Per Week: 40Pay Transparency detailsUS - NY - New York - ONE BRYANT PARK - BANK OF AMERICA TOWER (NY1100)Pay and benefits informationPay range$110,000.00 - $225,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.BenefitsThis role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

Keywords: Disability Solutions, New York , Quant Strategist/Modeler - Mortgages, Other , New York, New York