Consumer, Small Business and Wealth Management Operations (CSWO) Reporting and Analytics team is looking for a motivated individual with strong quantitative skills and experience in simulation modeling, operations research, and analytics. This individual will be responsible for developing and maintaining advanced strategic capacity models that predict operational resource demand and providing recommendations to key stakeholders. In addition, the position will assist with efforts to ensure the capacity 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.
Our team believes in being inclusive and supportive of all people and their unique situations. We embrace diversity and thrive on learning from each other. We share knowledge and experiences. We support a healthy work-life balance and offer competitive benefits (PTO, health insurance, 401K, paternal leave, etc.).
Responsible for developing and modernizing capacity and resource optimization models using advanced simulation and optimization techniques.
Evaluating new opportunities and implementing changes for current capacity model inputs, processes, and outputs
Design and implement efficiency metrics and insights to provide guidance to the operations and drive budgeting and business decisions
Assist in driving capacity modeling consistency and innovation across team
Routinely partner with the Front Line Units (FLUs) to generate best in class outcomes
Help with documentation and other efforts to adhere to Model Risk Management (MRM) guidelines
Master's degree in Industrial Engineering, Mathematics, Statistics, Applied Economics, Operations Research, Advanced Analytics, other STEM field (or comparable experience)
2+ years of experience in quantitative roles modeling complex systems
Experience with Arena or similar discrete event simulation software
Experience with SAS OR, GAMS, XPRESS, CPLEX, or similar optimization software
Proficient in MS Office
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
Prior capacity or financial planning/modeling experience
Tableau or other data visualization software experience
Data mining experience using SQL/SAS querying
Proficient in Arena or similar discrete event simulation software
Proficient in SAS OR, GAMS, XPRESS, CPLEX, or similar optimization software
Experience with SAS, Python, R, or similar
Prior Banking industry analytics and modeling experience, specifically with developing capacity or resource optimization models that adhere to standards set by a risk management governing body
Enterprise Role Overview:
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 physics, 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. Individual Contributor and reports to Quant Operations Manager
1st shift (United States of America)
Hours Per Week:
Internal Number: 21041629
About Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, 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. The company offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world.