Global Quantitative Strategies Summer Analyst null

About Bank of America

Bank of America, among the world's largest financial institutions, serves a diverse clientele with a full range of banking, investment, and risk management services. With approximately 56 million U.S. consumer and small business relationships, the company is a global leader in wealth management and corporate banking. Its broad offerings and extensive reach position Bank of America as a significant player in the global financial landscape.

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Your role

The Quantitative Strategies Group (QSG) is responsible for the models and analytics used in the Sales and Trading divisions within Global Markets. The group designs builds and maintains industrial-strength tools for analyzing, pricing, and risk managing financial products across all asset classes traded by Bank of America. The group works closely with trading, structuring, risk management, and technology to provide analytics that can quickly and accurately quantify the firm’s risks. This involves developing models and algorithms able to accurately calculate the value and risk of the financial products they offer clients.

What you’ll do:

• Build quantitative models for pricing and risk management
• Work closely with technology to implement and maintain models and algorithms
• Apply new technologies to solve business problems more efficiently
• Work closely with trading, sales, and technology to optimize client experience, trading revenues, and trading volumes
• Drive new initiatives and products in the electronic trading space.

Placement within QSG is determined after the hiring process depending on the business needs and the interests/skills of the candidate. The various teams within Equity and FICC QSG include:

• Flow Derivatives Strats
• Exotic Derivatives Strats
• Electronic & Algorithmic Trading Strats
• Index Financing Strats
• Delta One Strats
• Rates Strats
• eFX Strats

Possible Responsibilities (vary with placement):

• Development of new products/models
• Risk/PL analysis
• Development of quantitative tools
• Investigation of hedging strategies and hedging cost
• Electronic trading analysis (e.g. portfolio optimization, market microstructure, transaction costs)

Training, development & rotations

The Summer program is a 10-week program designed to provide Summer Analysts with a unique opportunity to gain exposure to life at Bank of America and also make significant contributions to the team. The Summer Program begins with an orientation and induction to the firm. Summer Analysts are given a true associate experience, as assignments mirror full-time responsibility and include goal-setting and a formal review process.

Benefits

Bank of America is committed to supporting Summer Analysts and providing them with the following benefits:

• Access to the bank’s learning hub containing a variety of learning resources, ranging from banking fundamentals to communication skills
• Structured and on-the-job training
• Networking and social opportunities
• Speaker series with senior management across all lines of business
• Corporate Social Responsibility project/learning
• Involvement in Diversity and Inclusion training/events

Career progression

The company recognizes that supporting employee development is crucial for talent retention and business sustainability. To achieve this, they offer a variety of leadership-backed programs and learning resources catering to every stage of an employee's professional journey. This commitment reflects their understanding that employees are the most valuable asset, driving business growth and exceptional service to clients and communities.

Work-life balance

Bank of America prioritizes work-life balance by fostering personal connections among employees through clubs, networks, and various activities, contributing to a strong and inclusive workplace. The support for arts and cultural organizations grants employees premium access to museums and cultural events globally, promoting community engagement. Additionally, initiatives like Get Active! inspire employees to pursue a healthier lifestyle through team-based physical activity challenges, reinforcing a culture that values well-being and camaraderie.

Company culture

They are driven by a shared commitment to improving financial lives through meaningful connections. They emphasise responsible growth, prioritizing its global workforce's well-being through diversity, inclusivity, and competitive benefits supporting physical, emotional, and financial health. They foster a collaborative environment, providing career opportunities for individuals seeking personal and professional growth.

About you

What Bank of America is looking for:

• Penultimate year Undergraduate, Masters, or PhD student
• Outstanding academic achievement
• Mathematics, Engineering, Physics, or Computer Science background required
• Strong programming skills required (preferably in an Object-oriented language such as Python, Java, C#, C++)
• Experience using Excel/VBA
• Database skills and exposure to KDB/q are advantageous
• A commercial mindset and an interest in financial markets and quantitative finance
• Strong quantitative and analytical skills
• Strong verbal and written communication skills
• Creative thinking and problem-solving skills
• Fluency in English is essential
• The ability to work well independently and in teams

Source

The following sources were used in researching this page:

• careers.bankofamerica.com/en-us/benefits/career-growth
• careers.bankofamerica.com/en-us/benefits/part-of-the-package
• about.bankofamerica.com/en/working-here/employee-benefits
• careers.bankofamerica.com/en-us/culture/shared-interests