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Type of Role: Investments

Experience Level: Intern - Undergraduate

Location: New York City, New York

Salary: $100K - $100K

Bank of America is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan. The bank was founded in San Francisco, California. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the second-largest bank in the world by market capitalization. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking.

Business overview

We believe Bank of America can do more for our clients than any other financial services firm. We understand the challenges our clients face around the world, and we use the full resources of our company to help them achieve their goals. Our solutions span the complete range of advisory, capital raising, banking, treasury and liquidity, sales and trading, and research capabilities.

Our Global Markets business offers sales and trading services, including research, to institutional clients across fixed-income, credit, currency, and commodity and equity businesses. Global Markets product coverage includes securities and derivative products in both the primary and secondary markets.

Program overview

Our Summer Associate Program includes formal training and assignments with a specific team in Global Markets. Extensive training is followed by placement in fixed income and/or equity markets, exposure to different functions in sales, trading, origination, and structuring/quantitative analysis. As a summer associate, you will focus on a specific product area within the overall group.

Program teams

Equities

  • Central Risk Group
  • Client Solutions
  • Equity Derivatives Structuring
  • Systematic Investment Group

FICC

  • Credit Trading
  • Rates e-Trading
  • Rates F&O

Job description

As a summer associate, your responsibilities may include but are not limited to:

  • Handling day-to-day transaction needs, including reconciliation, and clearing services
  • Assisting in educating clients about complex structures and technical products
  • Assisting in developing new products and bringing them to market
  • Quantitative analysis of the current markets, trends, and trading strategies
  • Numerical analysis of existing models and implementation and testing of performance enhancements
  • Assisting with sales, trading, and hedging activities
  • Helping to originate, structure, and model transactions
  • Assessing market trends and provide quantitative data for clients
  • Performing market and quantitative research analysis
  • Assisting in structuring, pricing, and executing trades
  • Research and modelling of complex products/trends/phenomena including Hedges and Alpha Strategies using large data sets of financial data.

 

Qualifications

  • Candidates are required to be pursuing a Master’s degree from an accredited college or university with a graduation timeframe between December 2024 and June 2025 in a field of Quantitative Finance, Financial Engineering, or Physics/Applied Maths/Computer Science. Experience in a technical field that blends advanced quantitative methods with finance and economics would be an advantage.
  • 3.5 minimum GPA preferred
  • Strong quantitative and qualitative skills
  • Experience in managing and analyzing large data sets with modern data-science tools is a plus
  • Excellent IT skills and knowledge of Python or R and most common data analysis libraries; packages including NumPy/Pandas/scikit-learn/Keras/PyTorch/fastai required for certain rotations
  • Prior experience with options and/or volatility products or working on a trading floor would be an advantage
  • Distinguished written and verbal communications skills and an ability to communicate complex ideas clearly and concisely to non-technical individuals
  • Demonstrate problem solving skills and willingness to ask tough questions
  • Ability to work independently and drive toward a completed end product
  • Able to generate complex solutions across multiple product platforms, in a thorough and proactive approach
  • Strong interest in global financial markets and complex structures
  • Adapts easily to constantly changing environment
  • A track record of superior performance in extracurricular and professional activities

 

Bank of America does not complete third party forms from colleges, universities, or other parties.

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.