Job Description:
About Us
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day.
One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being.
Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization.
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Global Business Services
Global Business Services delivers Technology and Operations capabilities to Lines of Business and Staff Support Functions of Bank of America through a centrally managed, globally integrated delivery model and globally resilient operations.
Global Business Services is recognized for flawless execution, sound risk management, operational resiliency, operational excellence and innovation.
In India, we are present in five locations and operate as BA Continuum India Private Limited (BACI), a non-banking subsidiary of Bank of America Corporation and the operating company for India operations of Global Business Services.
Process Overview
Stress Testing & Forecasting Analytics team sits within the CFO Organization and is aligned to support Global Markets Business. Stress Testing and Forecasting Analytics team is responsible for executing the quarterly stress and baseline forecasts across various businesses within Global Markets. The team is also responsible for developing and maintaining the forecasting models.
The team needs to engage with senior stakeholders across the firm to conduct review and challenge meetings on quarterly basis with respect to the forecast results. The data and infrastructure needed for the forecast process is also owned by the team. There is high regulatory involvement given the key role the team performs in the CCAR process, Recovery and Resolution Planning, Stress loss forecasting etc.
Job Description
(Provide a high level overview of the role and scope of responsibilities)
We are looking for a seasoned individual who is technically strong and has worked in a similar stress testing/forecasting role preferably in a large global bank.
The position requires the person to have a deep understanding of modeling/econometric forecasting (R coding knowledge is preferable) along with understanding of all the different trading desks, their risk profiles and revenue generation mechanism. The person should have a good knowledge of econometrics and other quantitative forecasting techniques in addition to good knowledge of the regulatory framework such as CCAR, Recovery and Resolution planning (RRP) etc.
This role will involve facing off with very senior stakeholders in Global Finance, Front office and Risk globally in addition to engagement with senior management at GBS.
Additionally, given the regulatory focus in this area, the person would have very strong communication and leadership skills.
Responsibilities
- Build and maintain quantitative and qualitative forecasting models for various global markets businesses as needed
- Lead calls with FLU and very senior global stakeholders as part of the review and challenge meetings every forecast cycle
- Own all the inputs that go into regulatory submissions such as CCAR, Recovery and Resolution Planning from a GBS perspective for specific desks/businesses
- Identify areas of process improvement and coordinate the execution of the same
- Ensure the integrity of the data and infrastructure that the global Stress testing team relies on for the quarterly forecast process
Requirements
Job Title
Assistant Vice President
Education
Qualified PhD/MBA/Masters in a Quantitative Field from Tier I/II institute with relevant experience in Stress Testing and Forecasting Analytics in Global Markets environment and organization of similar scale
Certifications If Any
• CFA / FRM certified candidates would be preferred
• Strong Programming Knowledge (R or Python) would be a plus
Experience Range
8+ years with at least 5+ years' experience in Global Markets Stress Testing/Forecasting Analytics role
Foundational skills
- 8+ years of Banking and Financial Services experience with extensive knowledge of working in a Global Markets environment
- Should have good understanding of financial markets, Derivatives & financial products across all asset classes -their valuation, risk etc.
- Strong quantitative modeling skills and programming skills
- Line experience coupled with a demonstrated ability to lead technology-based change
- Proven experience of providing thought leadership to overcome challenges and lead without direct authority
- Strong verbal and written communication skills, and the personal ability to collaborate, operate, and communicate effectively with a culturally diverse group of peers and colleagues.
- Has the gravity to interact at all levels of management to support resolution of complex business issues.
- Demonstrated ability to work in a global matrix organization and significantly multi-geography, multi-cultural offshore service delivery environment.
- Individual should have the resilience to handle internal pressures and conflicts in dealing with multiple stakeholders.
Desired skills
- R/Alteryx/Python/Tableau knowledge would be an added advantage with the most relevant being R
- Must be proactive and be a highly-motivated self-starter
- Demonstrated ability to work in a high pressure environment
- Takes initiative and challenges existing processes and procedures in a proactive manner
- Ability to analyze issues independently and drive solutions
- Analytical skills
Work Timings
12:00 PM IST to 21:00 PM IST
Job Location
Mumbai/Gurugram