Analyzes actual and predictable interacting operational activities of a business system to obtain quantitative, rational basis for decision making through the application of logic and scientific or economic disciplines and techniques. Devises modeling and measuring techniques; utilizes mathematics, statistical methods, engineering methods, operations research techniques (linear programming, game theory, probability theory, symbolic language, etc.) and other principles and laws of scientific and economic disciplines. Applies extensive technical expertise, and has full knowledge of other related disciplines. Works on usually complex technical problems and provides innovative solutions. Supports guiding the successful completion of major programs. Interacts with senior partners on significant technical matters often requiring coordination between organizations.
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.).
This is a support role for the Consumer, Small Business and Wealth Management Operations (CSWO) Reporting and Analytics team. This individual will be responsible for the development, maintenance, and modernization of time-series forecasting models that serve as primary inputs to capacity planning and budgeting models. In addition, the position will assist with efforts to ensure forecasting models adhere to Model Risk Management (MRM) standards. The ideal candidate will have a keen eye for detail, a strong sense for model testing and development, and excellent verbal and written communication skills.
* Responsible for developing and modernizing time-series models using advanced algorithm-based forecasting techniques
* Assist in driving forecast 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
* Supports ongoing monitoring and improving forecasting performance and efficiency
Master's degree in Mathematics/Statistics/Applied Economics/Operations Research/Advanced Analytics or other STEM field, (or comparable experience)
2+ years of experience as a professional predictive modeling analyst (forecasting, regression analysis, time-series, etc.)
Fundamental understanding and experience with Linear Regression/Time Series/Statistical Modeling, both through education and professional experience
Experience with SAS, Python, R, or similar statistical software
Tableau / Data visualization / or other
Ability to work in 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
Data mining experience using SQL/SAS querying
Prior Bank of America/Banking industry analytics and modeling experience, specifically with developing predictive models that adhere to standards set by a risk management governing body
Ability to coach others
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: 21042097
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.