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Quantitative Services Professional - UMR - Chicago, IL

Job Description:

The Quantitative Services Uncleared Margin Rule (UMR) Professional is a member of the team responsible for maintaining the stability of business processes and controls needed to ensure the firm’s initial margin (“IM”) requirements are accurate and consistent with CFTC & SEC Swap Dealer Regulatory Capital rules. This work is being executed to support of our internal partners in the Regulatory Capital and Enterprise Capital Management teams.

The analyst will be responsible for various business-as-usual deliverables which must be executed in a timely and accurate fashion.

Responsibilities:

  • Review and verify the model inputs feeding the IM  calculations
  • Identify, document and escalate production errors detected during pre and post-calculation routines
  • Perform periodic controls which exist to prevent and mitigate erroneous IM  calculations
  • Work directly with the front office and technology teams on issues discovered through technology testing and daily control procedures
  • Assist with the testing and validation of IM results through each technology release
  • Identify and establish control processes that will mitigate future IM  calculation errors
  • Perform daily and ad-hoc reporting to measure and monitor key metrics for the UMR BAU space
  • Provide enhanced analysis and IM  explains to front office and collateral operations teams when counterparty disputes arise for IM calculations
  • Communicate effectively with all levels of management, across business units as well as externally to customers of the firm.

Enterprise Role Overview:

Leads a large project or multiple projects that are significant in scope and impact. Works independently, with limited direction, and is evaluated through end results. May provide technical leadership. Interacts extensively with internal or external contacts to identify, research, analyze and resolve complex problems or to develop, sell or service significant revenue-generating products. Has extensive functional or professional knowledge. Key Responsibilities: Develops financial modeling tools for derivative products, applying the theory and mathematics behind various models. Builds out analytical and technical tools for validations of new models/methodology. Provides in-depth impact analysis or scenario analysis of quantitative measurements. Develops reporting of various risk metrics complied with business and regulatory requirements. Understands financial products across all asset classes and has extensive knowledge of technical implementations. Posses advanced degree in physic, applied mathematics, statistics/probability or another heavy quantitative discipline.

Required Skills: (Must have these skills to be minimally qualified)

  • At least 2 years of experience working in a quantitative risk, middle office, or front office role
  • Knowledge of Financial Risk Management, Credit Risk Models, Value at Risk (VaR) including market & credit risk
  • Strong technical skills including experience using Excel, VBA and SQL
  • Experience pricing OTC derivative products including futures, options, swaps, credit default swaps, forward rate agreements and swaptions
  • Experience working with OTC derivatives/Fixed Income
  • Excellent communication & analytical skills
  • Ability to document and present complex material in a simple and understandable manner

Desired Skills:

  • Minimum undergraduate in Mathematics, Finance or Quantitative field

Other Qualifications:

  • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.
  • Excels in working among diverse viewpoints to determine the best path forward.
  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner.
  • Commitment to challenging the status quo and promoting positive change.
  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.
  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

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Job Description:

The Quantitative Services Uncleared Margin Rule (UMR) Professional is a member of the team responsible for maintaining the stability of business processes and controls needed to ensure the firm’s initial margin (“IM”) requirements are accurate and consistent with CFTC & SEC Swap Dealer Regulatory Capital rules. This work is being executed to support of our internal partners in the Regulatory Capital and Enterprise Capital Management teams.

The analyst will be responsible for various business-as-usual deliverables which must be executed in a timely and accurate fashion.

Responsibilities:

  • Review and verify the model inputs feeding the IM  calculations
  • Identify, document and escalate production errors detected during pre and post-calculation routines
  • Perform periodic controls which exist to prevent and mitigate erroneous IM  calculations
  • Work directly with the front office and technology teams on issues discovered through technology testing and daily control procedures
  • Assist with the testing and validation of IM results through each technology release
  • Identify and establish control processes that will mitigate future IM  calculation errors
  • Perform daily and ad-hoc reporting to measure and monitor key metrics for the UMR BAU space
  • Provide enhanced analysis and IM  explains to front office and collateral operations teams when counterparty disputes arise for IM calculations
  • Communicate effectively with all levels of management, across business units as well as externally to customers of the firm.

Enterprise Role Overview:

Leads a large project or multiple projects that are significant in scope and impact. Works independently, with limited direction, and is evaluated through end results. May provide technical leadership. Interacts extensively with internal or external contacts to identify, research, analyze and resolve complex problems or to develop, sell or service significant revenue-generating products. Has extensive functional or professional knowledge. Key Responsibilities: Develops financial modeling tools for derivative products, applying the theory and mathematics behind various models. Builds out analytical and technical tools for validations of new models/methodology. Provides in-depth impact analysis or scenario analysis of quantitative measurements. Develops reporting of various risk metrics complied with business and regulatory requirements. Understands financial products across all asset classes and has extensive knowledge of technical implementations. Posses advanced degree in physic, applied mathematics, statistics/probability or another heavy quantitative discipline.

Required Skills: (Must have these skills to be minimally qualified)

  • At least 2 years of experience working in a quantitative risk, middle office, or front office role
  • Knowledge of Financial Risk Management, Credit Risk Models, Value at Risk (VaR) including market & credit risk
  • Strong technical skills including experience using Excel, VBA and SQL
  • Experience pricing OTC derivative products including futures, options, swaps, credit default swaps, forward rate agreements and swaptions
  • Experience working with OTC derivatives/Fixed Income
  • Excellent communication & analytical skills
  • Ability to document and present complex material in a simple and understandable manner

Desired Skills:

  • Minimum undergraduate in Mathematics, Finance or Quantitative field

Other Qualifications:

  • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.
  • Excels in working among diverse viewpoints to determine the best path forward.
  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner.
  • Commitment to challenging the status quo and promoting positive change.
  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.
  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description: The Quantitative Services Uncleared Margin Rule (UMR) Professional is a member of the team responsible for maintaining the stability of business processes and controls needed to ensure the firm’s initial margin (“IM”) requirements are accurate and consistent with CFTC & SEC Swap Dealer Regulatory Capital rules. This work is being executed to support of our internal partners in the Regulatory Capital and Enterprise Capital Management teams.

The analyst will be responsible for various business-as-usual deliverables which must be executed in a timely and accurate fashion.

Responsibilities:

  • Review and verify the model inputs feeding the IM  calculations
  • Identify, document and escalate production errors detected during pre and post-calculation routines
  • Perform periodic controls which exist to prevent and mitigate erroneous IM  calculations
  • Work directly with the front office and technology teams on issues discovered through technology testing and daily control procedures
  • Assist with the testing and validation of IM results through each technology release
  • Identify and establish control processes that will mitigate future IM  calculation errors
  • Perform daily and ad-hoc reporting to measure and monitor key metrics for the UMR BAU space
  • Provide enhanced analysis and IM  explains to front office and collateral operations teams when counterparty disputes arise for IM calculations
  • Communicate effectively with all levels of management, across business units as well as externally to customers of the firm.

Enterprise Role Overview:

Leads a large project or multiple projects that are significant in scope and impact. Works independently, with limited direction, and is evaluated through end results. May provide technical leadership. Interacts extensively with internal or external contacts to identify, research, analyze and resolve complex problems or to develop, sell or service significant revenue-generating products. Has extensive functional or professional knowledge. Key Responsibilities: Develops financial modeling tools for derivative products, applying the theory and mathematics behind various models. Builds out analytical and technical tools for validations of new models/methodology. Provides in-depth impact analysis or scenario analysis of quantitative measurements. Develops reporting of various risk metrics complied with business and regulatory requirements. Understands financial products across all asset classes and has extensive knowledge of technical implementations. Posses advanced degree in physic, applied mathematics, statistics/probability or another heavy quantitative discipline.

Required Skills: (Must have these skills to be minimally qualified)

  • At least 2 years of experience working in a quantitative risk, middle office, or front office role
  • Knowledge of Financial Risk Management, Credit Risk Models, Value at Risk (VaR) including market & credit risk
  • Strong technical skills including experience using Excel, VBA and SQL
  • Experience pricing OTC derivative products including futures, options, swaps, credit default swaps, forward rate agreements and swaptions
  • Experience working with OTC derivatives/Fixed Income
  • Excellent communication & analytical skills
  • Ability to document and present complex material in a simple and understandable manner

Desired Skills:

  • Minimum undergraduate in Mathematics, Finance or Quantitative field

Other Qualifications:

  • Strives to bring new thoughts and ideas to teams in order to drive innovation and unique solutions.
  • Excels in working among diverse viewpoints to determine the best path forward.
  • Experience in connecting with a diverse set of clients to understand future business needs – is a continuous learner.
  • Commitment to challenging the status quo and promoting positive change.
  • Participate in and drive collaborative efforts to advance tools, technology, and ways of working to better serve an evolving client base.
  • Believes in value of diversity so we can reflect, connect and meet the diverse needs of our clients and employees around the world.

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Company
Bank of America
Posted
10/06/2021
Type
Full time
Salary Range
$33,000.00 - 52,000.00
per Year
Salary range estimated by
Location
Chicago, IL 60290, US