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!
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Job Description:
This job is responsible for conducting quantitative analytics and complex modeling projects for specific business units or risk types. Key responsibilities include leading the development of new models, analytic processes, or system approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations may include the ability to influence strategic direction, as well as develop tactical plans.
Responsibilities:
- Leads audit assessment of the company's AI governance framework and routines
- Leads audit assessment of effectiveness of controls supporting the use of AI models and application such as AI model life cycle including model governance, development, validation, on-going monitoring, and model change management.
- Performs review of model development analysis and on-going model performance testing to assess the conceptual soundness of the AI model methodology, reasonableness of the model assumptions and the completeness and accuracy of the model testing.
- Conducts review of the AI model validation analysis to assess the effectiveness of the model validation process. Assesses the completeness and reasonableness of the model assumptions, limitations and independent model testing.
- Provides insightful challenges to management, identifies control deficiencies or enhancement opportunities, conducts root cause investigation, documents and reports audit findings.
- Works closely with teammates from multiple internal audit teams to ensure a comprehensive coverage of model uses across the various lines of business of control functions.
- Works closely with model stakeholders and senior management with regard to communication of audit assessment outcomes
Required Qualifications:
- Master's Degree or above in a quantitative discipline such as Mathematics, Data Science, Statistics, Finance, Economics, or Engineering
- 3+ years of industry experience relating to AI modelling and model uses in financial/banking sector
Desired Qualifications:
- Prior auditing background preferred
- Experience of development and validation of AI models used in financial/banking sector
Skills:
- Critical Thinking
- Quantitative Development
- Risk Analytics
- Risk Modeling
- Technical Documentation
- Adaptability
- Collaboration
- Problem Solving
- Risk Management
- Test Engineering
- Data Modeling
- Data and Trend Analysis
- Process Performance Measurement
- Research
- Written Communications
Minimum Education Requirement: Master's degree in related field or equivalent work experience
Shift:
1st shift (United States of America)
Hours Per Week:
40
Pay Transparency details
US - NY - New York - 114 W 47TH ST (NY8114)
Pay and benefits information
Pay range
$154,000.00 - $206,500.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligible
This 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.
Benefits
This 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.