Sr Quantitative Fin Analyst - AML Models

at Bank of America in Wilmington, Delaware, United States

Job Description

Sr Quantitative Fin Analyst – AML Models

New York, New York;Charlotte, North Carolina; Plano, Texas; Dallas, Texas; Pennington, New Jersey; Boston, Massachusetts; Wilmington, Delaware

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. 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.

Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference. Join us!

The Senior Quantitative Financial Analyst will contribute to the Corporate Audit function’s coverage of various types of models used for anti-money Laundering (AML) transaction monitoring, economic sanctions and fraud detections. Responsible for conducting assessment of the conceptual soundness, data inputs and outputs, assumptions and limitations, and, the proper use of the aforementioned model types. Oversees and executes the assigned areas of audit work, providing day to day coaching and guidance to teammates. Executes audit strategy for the sound application of risk based auditing by defining audit scope, audit program, and test procedures. Exercises critical thinking and judgment to effectively influence management to improve the control environment. When leading an audit engagement, is responsible for day to day coaching, mentoring, and performance feedback. Fosters an inclusive work environment. Incumbents possess excellent quantitative/analytic skills and a deep knowledge of AML and economical sanction practices in the financial industry.


+ Conduct detailed audits of various models, focusing on AML transaction monitoring, economic sanctions and fraud detection models. This involves examining the accuracy of model inputs, assumptions, methodologies, and outcomes.

+ Assess the model risk management framework of the organization, and controls related to model development, validation, implementation, and ongoing monitoring.

+ Collaborate with model users, developers, risk managers, and other relevant stakeholders to gain a comprehensive understanding of the models being audited and the associated risks.

+ Communicate work through formal audit templates, reports, as well as through presentations to stakeholders. Work effectively as a team member with other quantitative analysts at the company

+ Participate in the planning and execution of internal audit assignments on models, ensuring work is performed in accordance with the audit division’s methodology.

+ Based on the results of audit testing, identify and draft audit observations for review and subsequent debriefing with the key partners.

+ Conduct validation testing of the audit issue action plans completed by the business.

Required Skills and Experience:

+ 5+ years experience in the development, validation, use, and/or auditing AML transaction monitoring, economic sanctions and fraud detection models

+ 2+ years experience in AML, Financial Crimes and/or Fraud

+ Excellent analytic, technical, communication and auditing skills

+ Strong understanding of quantitative modeling concepts, financial instruments, and risk assessment methodologies

+ Bachelor’s Degree in Finance, Economics, Mathematics, Statistics or related quantitative field

Desired Skills and Experience :

+ Advanced degrees in a qualitative field

+ Certified Anti-Money Laundering Specialist (CAMS), Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Certified Regulatory Compliance Manager (CRCM), or Certified Fraud Examiner (CFE)

Job Code Summary:

Responsible for independently conducting quantitative analytics and complex modeling projects. Leads efforts in development of new models, analytic processes or system approaches. Creates documentation for all activities and may work with technology staff in design of any system to run models developed. Incumbents possess excellent quantitative/analytic skills and are able to influence strategic direction, as well as develop tactical plans.


1st shift (United States of America)

Hours Per Week:


Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.

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To view the “EEO is the Law” Supplement, CLICK HERE (\EEO\Supplement\Final\JRF\QA\508c.pdf) .

Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (“Policy”) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.

To view Bank of America’s Drug-free workplace and alcohol policy, CLICK HERE .

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Job Posting: JC251322798

Posted On: Nov 17, 2023

Updated On: Mar 02, 2024

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