Quantitative Operations Associate - Volume & Capacity Modeler

Bank of America; Chicago (IL); On-site; USD 85,000 - 131,000; Full time

Benefits offered by this job

Competitive benefits

Discretionary incentive plan

Job summary

Bank of America in Chicago is seeking a Data & Modeling - Resource Analytics professional to develop and maintain volume forecasting, capacity planning, and resource optimization models across Global Operations.

The role collaborates with Front Line Units, presents analyses to executive leadership, and ensures models comply with Model Risk Management standards, bringing strong quantitative and communication skills.

Qualifications

• Bachelor’s degree in Statistics, Applied Economics, Industrial Engineering, Mathematics, Operations Research, Analytics, Finance or other STEM field.
• 2+ years of experience in quantitative roles modeling complex processes.
• Fundamental understanding of linear regression and time-series modeling, discrete event simulation, and/or optimization techniques.
• Proficient in MS Office, particularly Excel.
• Experience with Copilot or related AI coding assistants.
• Experience with SAS, Python, R, or similar statistical software.

Responsibilities

• Develop and maintain volume forecasting, capacity planning, and resource optimization models.
• Routinely partner with Front Line Units (FLUs) to ensure model accuracy.
• Conduct routine model production and performance presentations with executive leadership.
• Evaluate new opportunities and implement enhancements to current capacity model inputs, processes, and outputs.
• Assist in driving volume and capacity modeling consistency across the team.
• Modernize existing models using predictive modeling, simulation and optimization techniques.
• Help with documentation to adhere to Model Risk Management (MRM) guidelines.

Skills

Time-series forecasting

Capacity planning

Simulation modeling

Model Risk Management (MRM)

Excel

Python/R/SAS

Communication

Team collaboration

Problem solving

Education

Bachelor’s degree in Statistics or related STEM field

Master’s degree (preferred)

Tools

SAS

Python

R

Excel

Arena

Job description

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. Join us!

Description & Responsibilities

The Data & Modeling - Resource Analytics team in Global Operations Data, Reporting & Operations Management is looking for a motivated individual with strong quantitative skills and experience with time-series forecasting, capacity planning, simulation modeling, and/or operations research. This individual will be responsible for developing and maintaining strategic volume forecasting and capacity planning models with the goal of maintaining optimal staffing levels across Global Operations. In addition, the position will assist with efforts to ensure 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.

• Develop and maintain volume forecasting, capacity planning, and resource optimization models
• Routinely partner with Front Line Units (FLUs) to ensure model accuracy
• Conduct routine model production and performance presentations with executive leadership
• Evaluate new opportunities and implement enhancements to current capacity model inputs, processes, and outputs
• Assist in driving volume and capacity modeling consistency and innovation across the team
• Help modernize existing volume forecasting and capacity models using advanced predictive modeling, simulation and optimization techniques
• Help with documentation and other efforts to adhere to Model Risk Management (MRM) guidelines

Required Skills

• Bachelor’s degree in Statistics, Applied Economics, Industrial Engineering, Mathematics, Operations Research, Analytics, Finance or other STEM field
• 2+ years of experience in quantitative roles modeling complex processes
• Fundamental understanding of linear regression and time-series modeling, discrete event simulation, and/or optimization techniques, through education or professional experience
• Proficient in MS Office, particularly Excel
• Experience with Copilot
• Experience with SAS, Python, R, or similar statistical software
• 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

• Master’s degree in Statistics, Applied Economics, Industrial Engineering, Mathematics, Operations Research, Analytics, Finance or other STEM field
• Prior operational volume forecasting, capacity planning, or financial planning experience
• Experience with Arena or similar discrete event simulation software
• Experience with SAS OR, GAMS, XPRESS, CPLEX, or similar optimization software
• Experience with Tableau or other data visualization software
• Data mining experience using SQL/SAS querying
• Prior Banking industry analytics and modeling experience, specifically with 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
• Presentation Skills
• Consulting
• Problem Solving
• Risk Management
• Stakeholder Management
• Technical Documentation

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 range $84,600.00 - $130,800.00 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.

Privacy Statement: 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. Join us!

Partnering Locally Learn about some of the ways Bank of America is making a difference in the communities we serve.

Global Impact Learn about the six areas that guide Bank of America’s efforts to help make financial lives better for customers, clients, communities and our teammates.

Opportunity and Inclusion 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.

Our Values Learn about our four values that represent what we believe.

Pay Transparency: https://careers.bankofamerica.com/en-us/pay-transparency