• Job Description

  Req#: 25014080

  Job Description:

  At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. We do this by driving Responsible Growth and delivering for our clients, teammates, communities and shareholders every day.

  Being a Great Place to Work is core to how we drive Responsible Growth. This includes our commitment to being a diverse and inclusive workplace, attracting and developing exceptional talent, supporting our teammates’ physical, emotional, and financial wellness, recognizing and rewarding performance, and how we make an impact in the communities we serve.

  At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

  Job Description:

  Responsible for developing quantitative/analytic models and applications in support of the firm's risk management effort. This role focuses on the development of operations/data management policies, strategies and operational guidelines for the organization's various financial products as they relate to the analysis, tracking, and reporting of various risk metrics. This role often possesses an advanced degree in physic, applied mathematics, statistics/probability or another heavy quantitative discipline. Quantitative analytic staff is focused on and responsible for the development of the theory and mathematics behind various models. May report to either Quant Operations Exec or Quantitative Operations Manager.

  Responsibilities :

  Global Operations Data Management & Analytics is looking for a motivated individual with strong quantitative skills and experience in time series forecasting, simulation modeling, operations research, and analytics. This individual will be responsible for developing and maintaining advanced strategic volume forecasting and capacity planning models that predict operational volumes and resource demand, as well as providing recommendations to key stakeholders. In addition, the position will assist with efforts to ensure the models adhere to Model Risk Management (MRM) standards. The ideal candidate will have a keen eye for detail, a strong sense for modeling complex operational systems, and excellent verbal and written communication skills. Additional responsibilities include:

  • Develop and maintain volume forecasting, capacity planning, and resource optimization models
  • Enhance capacity models using advanced simulation and optimization techniques
  • Assist in driving forecasting and capacity modeling consistency and innovation across team
  • Partner with the Front Line Units (FLUs) to generate best in class outcomes
  • Conduct routine model production and performance presentations with executive leadership
  • Assist with efforts to adhere to Model Risk Management (MRM) requirements, including writing documentation and providing guidance to junior analysts

  Required Skills:

  • Master’s degree in Industrial Engineering, Mathematics, Statistics, Applied Economics, Operations Research, Advanced Analytics, other STEM field; or equivalent experience
  • 5+ years of experience in quantitative roles modeling complex systems
  • Fundamental understanding of simulation and operations research techniques (discrete event simulation, Monte Carlo simulation, queuing theory, Markov chain modeling, optimization, etc.), both through education and professional experience
  • Fundamental understanding of linear regression, time series, and other predictive modeling techniques, both through education and professional experience
  • Experience with Arena or similar discrete event simulation software
  • Experience with SAS OR, GAMS, XPRESS, CPLEX, or similar optimization software
  • Proficient in MS Office (primarily Excel)
  • Ability to work in a team-oriented environment with strong aptitude for problem solving and collaboration
  • Strong communication and interpersonal skills - specifically the ability to communicate complex ideas in a clear and concise manner to key stakeholders
  • Natural curiosity and drive to answer important business questions
  • High aptitude for self-motivation and self-determined project work in a fast-paced and rapidly changing environment

  Desired Skills:

  • Prior operational volume forecasting, capacity planning, or financial planning experience
  • Tableau or other data visualization software experience
  • Data mining experience using SQL/SAS querying
  • Experience with SAS, Python, or R
  • Prior Banking industry analytics and modeling experience, specifically with developing models that adhere to standards set by a risk management governing body

  Skills:

  • Analytical Thinking
  • Business Intelligence
  • Data Modeling
  • Data Visualization
  • Data and Trend Analysis
  • Attention to Detail
  • Collaboration
  • Data Management
  • Data Mining
  • Technical Documentation
  • Consulting
  • Presentation Skills
  • Problem Solving
  • Risk Management
  • Stakeholder Management

  Shift:

  1st shift (United States of America)

  Hours Per Week:

  40

  Pay Transparency details

  US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540)

  Pay and benefits information

  Pay range

  $121,300.00 - $160,300.00 annualized salary, offers to be determined based on experience, education and skill set.

  Discretionary incentive eligible

  This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

  Benefits

  This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.

• About the company

  Bank of America is one of the world's largest financial institutions, serving individuals, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

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