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Associate

Bank of America
Mumbai, Maharashtra
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15 hours agoFull–time
Job Description:

Overview (Bank of America overview, BA Continuum India overview, Business Overview):

Bank of America is one of the world’s leading financial institutions, serving individual consumers, 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.

We are committed to attracting and retaining top talent across the globe to ensure our continued success. Along with taking care of our customers, we want to be the best place for people to work and aim at creating a work environment where all employees have the opportunity to achieve their goals.

We are a part of the Global Business Services which delivers technology and operations capabilities to all Bank of America lines of business (LOB) and enterprise functions.

Our employees help our customers and clients at every stage of their financial lives, helping them connect to what matters most. This purpose defines and unites us. Every day, we are focused on delivering value, convenience, expertise and innovation for individuals, businesses and institutional investors we serve worldwide.
• BA Continuum is a nonbank subsidiary of Bank of America, part of Global Business Services in the bank.

Process Overview:

The team in India is an extension of Bank of America’s Global Risk Organization. India team provides analytical and technological support to the Model Risk Management desk.

Job Description:

Responsible for independently conducting quantitative analytics and modeling projects. Responsible for developing new models, analytic processes or systems approaches. Creates documentation for all activities and works with Technology staff in design of any system to run models developed. Incumbents possess excellent quantitative/analytic skills and a broad knowledge of financial markets and products.

Responsibilities:

The qualified candidate will be responsible for model independent validation and peer review of all newly developed complex predictive models to ensure they follow good modeling practices and are in compliance with Model Governance Policy, Guidelines and OCC requirements. This will involve understanding the purpose of the model, how it works, how well it performs, and what effective challenges are to the current model. The scope of the role will cover all Global Consumer and Small Business Banking models, included but not limited to Card, First Mortgage, Home Equity, Small Business, Insurance, Marketing and others. Ability to communicate clearly, effectively, and work well with people is a key requirement. The qualified candidate will work cross-functionally to enforce processes and to integrate more effective model validation processes.

Requirements:
• Education: Masters or Ph.D. degree in Statistics and/or Mathematics and/or Financial Mathematics and/or Economics
• Educational institutes: Top tier – IITs, NITs, Indian Statistical Institutes etc.
• Certifications (preferred but not mandatory): FRM, CFA etc.
• Experience Range: 7+ years
• Foundational skills:
• Strong Quantitative skills –
• Proficient in statistical analysis and modeling
• Have a deep understanding and knowledge of modeling process and model performance measures and to perform effective challenges to the current models
• Proficient in at least one programming software/language, such as R, S-Plus, SAS or Python
• Demonstrable ability to work on multiple projects at any one time
• A proven project manager who is well organized
• Strong Written and Oral Communication
• Attention to details
• Willingness to learn
• Strong work ethic
• Team player
• Desired skills:
• 3 years of continuous hands-on model development or validation experience, preferably, in a lending environment
• Speaking / presentation skills in a professional setting
• Strong design patterns skills to design and architecture the tool
• Have a good understanding and knowledge of Machine Learning techniques, such as Artificial Neural Network (ANN), Gradient Boosting Machine (GBM) and Random Forest (RF).

Work Timings: 12 PM – 9 PM IST

Job Location: Mumbai / Gurugram