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!

Job Description:
This job is responsible for establishing the price testing methodology for complex portfolios of instruments and risks. Key responsibilities include ensuring execution of price testing is consistent with methodologies and market conditions in partnership with the Product Finance control team, determining uncertainty reporting and metrics, monitoring pricing and liquidity risk, and escalating issues. Job expectations include partnering with model developers and validation teams, implementing new models, challenging price testing methodologies, and driving the development of new methodologies.

Responsibilities:

Develops and enhances technical valuation policies and standards, improving methodology, documentation, and Valuation Controls (VCs)Conducts technical analysis of existing methodology development, VC execution, reporting, and governance processes, identifying areas of improvement for VC areas in scope including Independent Price Verification (IPV), IPV & Fair Value Hierarchy Classification, Fair Value Adjustments, Valuation Uncertainty metrics and Prudent Valuation AdjustmentsDrives improved controls over proxy data, overrides, calibration error, model risk, and untested parameters/risks while improving valuation uncertainty metrics, market data back testing, and governanceCollaborates with Traders, Market Risk, Model Risk Management, Front Office Quants, Product Controllers, and senior managers on valuation related matters while communicating complex valuation matters to senior management, Auditors, and RegulatorsDefines Fair Value Hierarchy classification and substantiation approaches, such as creating the framework for products risks, and portfoliosPerforms data analytics to better understand valuation uncertainty, independent data quality, liquidity, observability, and trendsLeads strategic projects supporting valuation analytics and architecture

Managerial Responsibilities:
This position may also have responsibilities for managing associates. At Bank of America, all managers at this level demonstrate the following responsibilities, in addition to those specific to the role, listed above.

Diversity & Inclusion Champion: Models an inclusive environment for employees and clients, aligned to company D&I goals.Manager of Process & Data: Demonstrates deep process knowledge, operational excellence and innovation through a focus on simplicity, data based decision making and continuous improvement.Enterprise Advocate & Communicator: Communicates enterprise decisions, purpose, and results, and connects to team strategy, priorities and contributions.Risk Manager: Ensures proper risk discipline, controls and culture are in place to identify, escalate and debate issues.People Manager & Coach: Provides inspection, coaching and feedback to motivate, differentiate and improve performance.Financial Steward: Actively manages expenses and budgets in alignment with objectives, making sound financial decisions.Enterprise Talent Leader: Assesses talent and builds bench strength for roles across the organization.Driver of Business Outcomes: Delivers results by effectively prioritizing, inspecting and appropriately delegating team work.

Skills:

Analytical ThinkingAttention to DetailData ModelingRisk AnalyticsRisk ModelingFinancial Forecasting and ModelingPrice Verification and ValuationProblem SolvingScenario Planning and AnalysisBusiness AcumenBusiness AnalyticsConsultingInfluenceReporting

Required Qualifications:

Minimum 5 years of valuation and financial modeling experience covering products in scopeKnowledge of derivative and securities pricing model theory, valuation models and toolsIntermediate-to-expert in Python or C++ with experience in distributed computing Experience with Bloomberg, Intex Desktop, Jupyter Labs, Dash Enterprise, KDB, Hadoop ecosystemSystem design and development experience, working with cross-functional teamsExcellent writing and verbal communication, documentation, and problem-solving skillsExcellent attention to detail, with ability interpret market structure and complex risks

Desired Qualifications:

Master’s degree in Business, Finance, Engineering, Mathematics, or StatisticsChartered Financial Analyst (CFA) or Financial Risk Manager (FRM) designationExperience in Credit, Mortgage and Securitized Products, or Municipal markets and related derivatives; experience in IR, FX derivatives and XVA will also be considered

Minimum Education Requirement: Bachelor’s degree in Business, Finance, Engineering, Mathematics, or Statistics

Shift:

1st shift (United States of America)

Hours Per Week: 

40