Quantitative Data Scientist

Bank Of America Corporation Jersey City , NJ 07097

Posted 2 months ago

Job Description:


Merrill Lynch Wealth Management is a leading provider of comprehensive wealth management and investment products and services for individuals, companies, and institutions. Merrill Lynch wealth management is one of the largest businesses of its kind in the world specializing in goals-based wealth management, including planning for retirement, education, legacy, and other life goals through investment advice and guidance.

Merrill Lynch's financial advisors help clients pursue the life they envision through a one-on-one relationship with an advisor committed to their needs. We believe trust comes from transparency. Our trusted financial advisors are equipped with access to the investment insights of Merrill Lynch coupled with the banking convenience of Bank of America.

The Position:

The MLWM Business Oversight and Supervision Business Intermediate Quant Analyst is responsible for the analysis and development of business and risk intelligence tools and frameworks for MLWM Business Oversight and Supervision. This role is responsible for designing and implementing analytical tools and predictive models based on that intelligence, creating efficiencies in leveraging existing reporting data / tools, and identifying analytics and dashboards that can mitigate and manage Supervisory risk. Other responsibilities of the this role include developing analytics for risk mitigation opportunities, as well as identifying, monitoring, and communicating trends and implementing recommendations based on those trends / analysis in support of achieving goals in line with business strategy.

Key Responsibilities:

  • Work with and coordinate with Supervision team members, Model Risk Management, Compliance, Risk and Audit to build sophisticated models, determine proper empirical methodology, organize data collection, write unique programs, prepare written reports, and summarize the results of analytic studies in formal and informal presentations.

  • Design, develop, test, and implement advanced predictive models and risk analytics tools utilizing data from Supervision, Compliance, and other key partners across GWIM.

  • Work with Supervision leads to understand business data requirements and translate them into predictive models and analytical tools.

  • Conduct research to apply techniques in natural language processing, financial engineering methodologies, and applied mathematics to suggest process improvements and risk mitigation analytics where applicable.

  • Develop state-of-the-art software tools to collect, and analyze large volumes of structured and/or unstructured data to streamline business processes and improvements and enhance the quality and efficiency of supervision and oversight

  • Key team member in the development of future state supervision


Posting Date: 09/25/2018

Location: Jersey City, NJ, 101 HUDSON ST (NJ2101), - United States

Travel: Yes, 10% of the time

Full / Part-time: Full time

Hours Per Week: 40

Shift: 1st shift

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Quantitative Data Scientist

Bank Of America Corporation