Overview
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We drive Responsible Growth and deliver for our clients, teammates, communities and shareholders every day. We are committed to an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success, with a culture that supports physical, emotional, and financial wellness through competitive benefits.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact.
Job Description
We are seeking a talented and driven Quantitative Analyst to join our Commodities Quantitative Strategies and Data Group (QSDG). This mid-to-senior level role focuses on the design, implementation, and maintenance of derivative pricing models and volatility modelling tools used across our global commodities trading business. The ideal candidate will have a strong background in quantitative finance, robust software development skills in both C++ and Python, and prior experience working on derivatives pricing models. Experience in commodities is preferred, with particular interest in gas and power products, energy derivatives, volatility modelling, or complex physical/financial commodity products. Candidates from FX, equities, rates or other asset classes with strong derivatives pricing and volatility modelling experience will also be considered. The role requires combining strong modelling intuition with hands-on implementation skills to develop and support pricing models and analytics libraries in production.
Responsibilities
- Develop, implement, and maintain pricing and risk models for a wide range of commodities derivatives.
- Work on pricing models for commodities products, with focus areas including power, gas, spread options, storage, structured products, and other non-standard commodity derivatives.
- Design and build scalable model pricing code and quantitative software platforms that support risk analytics and trading needs.
- Collaborate with traders, structurers, and risk managers to deliver high-performance analytics and model-driven tools.
- Write high-quality production code in C++ and Python, and contribute to modernization of the analytics infrastructure.
- Write comprehensive model documentation to support internal governance and regulatory requirements.
- Collaborate with model validation and risk control teams throughout the model approval lifecycle.
- Support day-to-day analytics needs and participate in continuous improvement of the platform.
Qualifications
- Advanced degree (MSc/PhD) in Mathematics, Physics, Computer Science, Financial Engineering, or related quantitative field.
- Experience in a quantitative analytics or quantitative development role within a financial institution or relevant industry.
- Strong experience in pricing and modelling derivatives, preferably in commodities, but FX, equities, or other complex products also considered.
- Solid knowledge of volatility modelling techniques and derivative pricing theory.
- Proficiency in C++ and Python for numerical computing and model development.
- Experience working within a structured software development environment with source control, CI, testing, and release processes.
- Excellent problem-solving skills, attention to detail, and strong communication abilities.
- Experience with model documentation and familiarity with model validation processes is a strong plus.
Preferred Skills
- Exposure to commodities markets (including power markets, gas and energy products, power options, structured power products, heat-rate products, storage, transmission, weather-linked products, or other energy derivatives).
- Familiarity with Monte Carlo methods, PDE solvers, and volatility calibration techniques.
Shift
1st shift (United States of America)
Hours Per Week
40
Pay Transparency and Benefits
Pay range: $100,000.00 - $300,000.00 annualized salary, offers to be determined based on experience, education and skill set.
Discretionary incentive eligibility: This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on individual performance, business results, and overall company success.
Benefits: This role is currently benefits eligible. We provide industry-leading benefits, paid time off, and support to help employees contribute to the sustainable growth of our business and communities.
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