Risk Analysis Specialist II
Company: Disability Solutions
Location: Jersey City
Posted on: April 20, 2024
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Job Description:
Job Description:Responsible for performing complex analysis and
is engaged in the development of modeling that maximizes profits
and asset growth and minimizes credit and operating losses and
other risk exposures. Provides analytical support on various
product strategies to ensure company goals are met. Coordinates the
production of performance reports for Senior Management. Reviews
and analyzes trends in current population distributions and
recommends strategies. May participate in or develop complex
program models to extract data and use databases to provide
statistical and financial modelling.Master's degree or large data
experience preferred; Programming experience and relevant degree or
large data experience required.Overview of Global Risk
AnalyticsBank of America Merrill Lynch has an opportunity for a
Risk Analysis Specialist II (B5 Data Compliance Analyst) within our
Global Risk Analytics (GRA) function. GRA is a sub-line of business
within Global Risk Management (GRM). GRA is responsible for
developing a consistent and coherent set of models and analytical
tools for effective risk and capital measurement, management and
reporting across Bank of America. GRA partners with the Lines of
Business and Enterprise functions to ensure that its models and
analytics address both internal and regulatory requirements, such
as quarterly Enterprise Stress Testing (EST), the annual
Comprehensive Capital Analysis and Review (CCAR), and the Current
Expected Credit Losses (CECL) accounting standard. GRA models
follow an iterative and ongoing development life cycle, as the bank
responds to the changing nature of portfolios, economic conditions
and emerging risks. In addition to model development, GRA conducts
model implementation, data management, model execution and
analysis, forecast administration, and model performance
monitoring. GRA drives innovation, process improvement and
automation across all of these activities.Overview of Consumer
Operations & GRA StrategyConsumer Operations & GRA Strategy is part
of Global Risk Analytics (GRA). It is responsible for three primary
bodies of work: strategic planning and delivery of major
initiatives; program and project planning; and data management and
model execution.Strategy and Major Initiatives are responsible for
the planning and delivery of a coherent model risk management
framework and infrastructure across GRA. These efforts include the
development of one universal platform for seamless model
development and implementation, and improvements to the quality and
consistency of the data sourced for all development and production
purposes. The team also provides forward-looking plans and
solutions to ensure that GRA is addressing internal and regulatory
requirements in a strategic, coordinated and pro-active
manner.Programs and Projects provides project management oversight
to key regulatory reviews such as the Current Expected Credit
Losses (CECL) accounting standard and the Comprehensive Capital
Analysis & Review (CCAR), as well as other strategic initiatives,
including data, infrastructure and consumer model development.
Additionally, the team ensures that technology roadmaps and data
solutions align to Global Risk Management (GRM) strategies.Consumer
Risk Analytics Data Management and Model Execution responsible for
driving the delivery of complete, accurate, timely, and compliant
data for the consumer models. The team also develops, executes and
manages the consumer model production processes, which provides
required outputs for both forecast administrators (FAs) and front
line units (FLUs).Overview of the RoleThis role drives execution of
the Bank's Risk Framework and enables the assessment GRA platforms
and their and adherence to Enterprise-wide policies and standards.
We promote a strong risk culture, underpinned by a proactive risk
management approach. This enables the organization to deliver
effectively for our operations and business partners and clients,
thereby supporting our objective to build 'best in class' data and
technology capabilities. We work in partnership with our Audit and
Technology Compliance and Operational Risk (TCOR) partners. The
team embraces our corporate values in our day to day interactions,
and strive for continuous improvement in pursuit of Operational
Excellence.The analyst will support the team in executing internal
control discipline. They will prepare documentation for the
tracking, monitoring, and escalation of risk related issues to
management. Incumbents typically have over 4+ years of risk
management and/or LOB/ECF experience.Key Responsibilities
Keywords: Disability Solutions, East Orange , Risk Analysis Specialist II, Other , Jersey City, New Jersey
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