Quantitative Operations Associate - Volume Forecaster

Bank of America; Chicago (IL); On-site; USD 84,000 - 132,000; Full time

Job summary

A leading financial institution is seeking a Quantitative Analyst in Chicago. This role involves developing analytical models for risk management and requires a strong background in mathematics and statistics. Applicants should possess a Master's degree and have 2+ years of experience in similar roles. The position offers competitive compensation and a comprehensive benefits package.

Qualifications

• Master's degree in Mathematics, Statistics, Applied Economics, Advanced Analytics or equivalent experience.
• 2+ years in quantitative roles
• Proficient in statistical modeling techniques including linear regression and time-series analysis.

Responsibilities

• Develop and maintain time-series models using forecasting techniques.
• Assist in ensuring models adhere to Model Risk Management standards.
• Conduct presentations on model production and performance.

Skills

Analytical Thinking

Statistical Modeling

Data Management

Data Visualization

Risk Management

Problem Solving

Education

Master's degree in Mathematics, Statistics, Applied Economics, Advanced Analytics or other STEM field

Tools

Excel

SAS

Python

R

Tableau

SQL

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 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 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

Responsibilities:

Global Operations Data Management & Analytics is looking for a motivated individual with strong quantitative skills who can analyze operational activities and data to develop and maintain time-series volume forecasts for capacity planning purposes through the application of statistical models and business intelligence. 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. Responsibilities include:

• Develop and maintain time-series models using advanced algorithm-based forecasting techniques
• Assist in driving forecast consistency and innovation across the team
• Routinely partner with the Front-Line Units (FLUs) to generate best in class outcomes
• Conduct routine model production and performance presentations with executive leadership

• Help with documentation and other efforts to adhere to Model Risk Management (MRM) guidelines
• Support ongoing model monitoring to improve forecasting performance and efficiency

Required Skills:

• Master's degree in Mathematics, Statistics, Applied Economics, Advanced Analytics or other STEM field or equivalent experience
• 2+ years of experience in quantitative roles supporting complex functions
• Fundamental understanding and experience with linear regression, time-series, and other statistical modeling techniques, through education and/or professional experience
• Proficient in MS Office, particularly Excel
• Experience with SAS, Python, R, or similar statistical software
• Experience with Tableau or other data visualization
• 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

Desired Skills:

• 2+ years of experience as a professional predictive modeling analyst (forecasting, regression analysis, time-series, etc.)
• 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 bod
• Experience with Tableau or other data visualization
• Data mining experience using SQL
• Ability to coach others

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 and benefits information Pay range $84,600.00 - $132,000.00 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.