Senior Economist Senior Economist …

Bank of America Merrill Lynch
in Jersey City, NJ, United States
Permanent, Full time
Last application, 24 Nov 20
Bank of America Merrill Lynch
in Jersey City, NJ, United States
Permanent, Full time
Last application, 24 Nov 20
Senior Economist
Job Description:

Bank of America's Economic Scenario Generation Group is seeking to add a Sr. Economist to the team. The Economic Scenario Generation Group in Global Risk Analytics is responsible for:
  • Constructing and developing scenarios to support CCAR, stress testing, CECL/IFRS9, risk appetite and other enterprise risk management activities;
  • Developing and implementing econometric models for forecasting macroeconomic and financial variables

The team's current coverage includes U.S. national and regional macro and financial variables, as well as major international economic variables, including FX and interest rates. This Sr. Economist role comes as part of the continued effort of the team to improve and expand the current suite of models and stress testing framework. As part of the Economic Scenario Generation Team, the candidate will be expected to play an active role in the construction of macroeconomic scenarios for stress testing purposes as well as contributing to the regular supervisory stress test exercises. This will involve applying economic skills to monitor global financial and economic trends and to identify and analyze key macro and market risks, along with their implications for the global economy. The candidate will be also responsible for designing scenarios with narratives, providing guidance for new economic models development and improvements, and reviewing scenarios to ensure consistency. The successful candidate should be able to communicate complex information and explanations in a simple way, both verbally and in written form. The work of the team is fast-paced and intellectually challenging, and we interact daily with quantitative modelers, as well as senior bank management teams.

Overview of the Senior Economist Position:
Establishes the general framework for economic development analyses. Monitors trends in various sectors of the US. Forecasts changes in business conditions and relationships. Responsible for economic and financial forecasting. Directs the preparation of reports for internal and external distribution, including presentations to the sales force and institutional clients.

Required Education, Skills, and Experience:
  • Masters with 10+ years industry experience
  • 10+ years economist experience in a major financial, public or international institution;
  • Expertise in macro-economic analysis and forecasting with a focus on empirical methods
  • Expertise in macro-economic scenario generation system design
  • Expertise in macro-economic scenario output review and narratives
  • Excellent verbal and written communication skills
  • Ability to work in a large, complex organization, and influence various stakeholders and partners
  • Self-starter; Initiates work independently, before being asked
  • Strong team player able to seamlessly transition between contributing individually and collaborating on team projects; Understands that individual actions may require input from manager or peers; Knows when to include others

Desired Skills and Experience:
  • PhD in Economics, Econometrics or equivalent
  • Knowledge of financial markets, CCAR, stress testing, CECL/IFRS9;
  • Knowledge base of data sources, recent research and historical developments
  • Experience in time series analysis and macro modelling
  • Programming skills in Matlab, R, SAS, S, or equivalent;
  • Experience working or managing in a team environment
  • Proactive and passionate about working on complex problem solving
  • Strong attention to detail

1st shift (United States of America)

Hours Per Week:
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