Quantitative Engineer
Bank of America
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Job summary
Bank of America’s Global Risk Analytics team in Chicago is seeking a software-enabled risk analytics professional. You will design, build, test and implement scalable data tools and models to support risk management and regulatory needs.
You will work with modelers, risk managers and technologists to shape the data and analytics future, develop reusable components, and document processes for internal and regulatory purposes.
Qualifications
- Bachelor's degree in Computer Science or related field, or equivalent work experience.
- 1-2 years of relevant professional experience or evidence of personal projects showing coding and problem solving.
- Strong programming skills (e.g., Python) and solid understanding of SDLC.
- Experience with big data technologies such as Spark, PySpark, Hadoop, and Hive.
- Experience with large-scale data sets and building user-facing applications using React/Angular/JavaScript.
Responsibilities
- Applying quantitative methods to develop capabilities that meet business and regulatory requirements.
- Understanding financial data: schemas, flow, size, data issues, data controls, etc.
- Building performant big data pipelines.
- Deliver high-quality code for model and testing processes.
- Collaborate with stakeholders across Bank to understand modeling and testing needs.
- Think outside the box to develop innovative approaches.
- Maintain and enhance capabilities to adapt to changing portfolios and risks.
- Source and evaluate data required for modeling and testing.
- Design, develop and implement models and tests.
- Produce clear technical documentation for models and tests.
Skills
Education
Tools
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 and providing a culture of caring is core to how we drive Responsible Growth. We are intentional about fostering an inclusive workplace where every teammate has the opportunity to succeed, build a career and contribute to our shared success. This includes attracting and developing exceptional talent, recognizing and rewarding performance, and supporting our teammates' physical, emotional, and financial wellness through affordable, competitive and flexible benefits. We value the unique perspectives individuals bring from all backgrounds and career paths - whether shaped by military service, community college education, or a wide range of work and life experiences. These journeys foster resilience, leadership and innovation, strengthening our workforce and positively impact the communities we serve.
Bank of America is committed to an in-office culture that supports collaboration, engagement, and career development. Our approach includes clear in-office expectations, while providing an appropriate level of flexibility based on role-specific responsibilities and business needs. At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact.
Designing, developing, testing and implementing common, reusable, and scalable software components which are either domain independent (generic data quality tools over billions of rows of data) or domain specific (classification models for surveillance or testing framework for Global Markets processes). Enable Global Risk Management's data and analytical capabilities. Work with modelers, risk managers, and technologists to understand the current state and design the future state of data and analytics.
- Applies quantitative methods to develop capabilities that meet line of business, risk management and regulatory requirements
- Understand financial data: schemas, flow, size, data issues, data controls, etc.
- Builds performant big data pipelines
- Uses programming skills and knowledge of software development lifecycle principles to deliver high quality code for model and testing processes
- Collaborates with key stakeholders across the Bank to understand modeling and testing business processes and requirements
- Thinks outside the box of current industry standards to develop innovative approaches
- Maintains and continuously enhances capabilities over time to respond to the changing nature of portfolios, economic conditions and emerging risks
GRA is a sub-line of business within Global Risk Management (GRM), responsible for developing a consistent and coherent set of models, analytical tools, and tests for effective risk and capital measurement, management and reporting across Bank of America. GRA partners with the Lines of Business and Enterprise functions to ensure the capabilities it builds address both internal and regulatory requirements, and are responsive to the changing nature of portfolios, economic conditions, and emerging risks.
In executing its activities, GRA drives innovation, process improvement and automation.
- Applying quantitative methods to develop capabilities that meet line of business, risk management and regulatory requirements
- Understanding financial data: schemas, flow, size, data issues, data controls, etc.
- Building performant big data pipelines
- Use programming skills and knowledge of software development lifecycle principles to deliver high quality code for model and testing processes
- Collaborate with key stakeholders across the Bank to understand modeling and testing business processes and requirements
- Think outside the box of current industry standards to develop innovative approaches
- Maintaining and continuously enhancing capabilities over time to respond to the changing nature of portfolios, economic conditions and emerging risks
- Source and evaluate data required for modeling and testing
- Design and develop and implement models and tests
- Produce clear, concise and repeatable technical documentation models and tests for internal and regulatory purposes
- Software engineering: modular code, software lifecycle processes, unit testing, regression testing
- Big data: distributed computing paradigms (e.g., mapreduce, dataframes, etc), optimizing distributed software
- Modeling / quantitative: basic modeling techniques (regression, classification, clustering, etc)
- Bachelor's degree in Computer Science, a closely related field, or a degree from a program where software engineering was a key focus or equivalent work experience
- A minimum of 1-2 years relevant professional experience or evidence of personal projects and endeavors that show a passion for coding and problem solving
- Strong Programming skills (e.g., Python) and solid understanding of Software Development Life cycle principles
- Candidates should have at least one of these following skills and preferably have at least two of these skills:
- Strong analytical and problem-solving skills
- Experience applying quantitative methods such as modelling, data analytics, machine learning, and statistics to develop business solutions
- Experience with large scale data sets with structured or unstructured data
- Experience in building user facing applications over large amounts of data using technologies like React, Angular, JavaScript etc.
- Experience implementing process improvements and automation
- Strong Python development skills (including Pandas and related data-processing libraries)
- Experience with big data technologies such as Spark, PySpark, Hadoop, and Hive
- Exposure to quantitative modeling or financial modeling is a plus, but not required
- Critical Thinking
- Data Modeling
- Process Effectiveness
- Risk Modeling
- Test Engineering
- Influence
- Oral Communications
- Prioritization
- Relationship Building
- Written Communications
- Attention to Detail
- Change Management
Bachelor's degree in related field or equivalent work experience
1st shift (United States of America)
40
US - IL - Chicago - 540 W Madison St - Bank Of America Plaza (IL4540)
Pay range $90,000.00 - $155,500.00 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.
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.
https://careers.bankofamerica.com/en-us/privacy-notice
At Bank of America, we are guided by a common purpose to help make financial lives better through the power of every connection. Responsible Growth is how we run our company and how we deliver for our clients, teammates, communities and shareholders every day. One of the keys to driving Responsible Growth is being a great place to work for our teammates around the world. We're devoted to being a diverse and inclusive workplace for everyone. We hire individuals with a broad range of backgrounds and experiences and invest heavily in our teammates and their families by offering competitive benefits to support their physical, emotional, and financial well-being. Bank of America believes both in the importance of working together and offering flexibility to our employees. We use a multi-faceted approach for flexibility, depending on the various roles in our organization. Working at Bank of America will give you a great career with opportunities to learn, grow and make an impact, along with the power to make a difference.
Each employee brings unique skills, background and opinions. We see opportunity and inclusion as our platform for innovation and a key component in our success.
Learn about our four values that represent what we believe.
https://careers.bankofamerica.com/en-us/pay-transparency
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