Quantitative Finance Analyst

Quantitative Financial Analyst

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!

This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types. Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products.

Responsibilities:

• Champion the integration of AI capabilities into existing applications, workflows, and analytics platforms to improve efficiency, automation, and decision-making.
• Implement, maintain, and enhance analytical models supporting customer decisioning, consumer behavior analytics, credit risk assessment, and stress testing initiatives.
• Translate business requirements and model specifications into scalable production solutions using Python, SQL, and enterprise data platforms.
• Develop and support model execution, validation, monitoring, and deployment processes while partnering with business, analytics, and technology teams to ensure reliable implementation and operational performance.

Overview of Global Risk Analytics (GRA)

Bank of America has an opportunity for a Quantitative Financial Analyst within the Global Risk Analytics (GRA) organization. GRA is part of Global Risk Management (GRM) and is responsible for developing a consistent and coherent set of models and analytical capabilities for effective risk and capital measurement, management, and reporting across the bank. GRA partners with the Lines of Business and Enterprise functions to deliver solutions that address both business and regulatory requirements while remaining responsive to evolving portfolios, economic conditions, and emerging risks. Through its work, GRA drives innovation, process improvement, automation, and analytical excellence.

Overview of Consumer Model Development and Operations

The Consumer Model Development & Operations (CMDO) team is part of Global Risk Analytics. It provides quantitative solutions to enable effective risk and capital management across the Retail and Global Wealth & Investments Management (GWIM) lines of business. The team places strong emphasis on delivering world class quantitative solutions for Front Line Unit (FLU) model owners and stakeholders through a disciplined and iterative development process. The team has responsibilities across a number of areas:

• Quantitative Modeling Develop and maintain risk and capital Models and Model Systems across Retail and GWIM product lines. Models and Model Systems provide insight into many risk areas, including loan default, exposure at default (EAD), loss given default (LGD), delinquency, prepayment, balances, pricing, risk appetite, revenues and cash flows.
• Quantitative Development Architect, implement, maintain, improve and integrate quantitative solutions on strategic GRA platforms. Outputs include GRA libraries that perform consumer risk model calculations, analytical tools, processes and documentation. Partner in defining, adopting, and executing GRA's technical strategy.
• Risk and Capital Management Capabilities Build best in class quantitative solutions that enable the Retail and GWIM lines of business to effectively manage risk and capital, through the application of the disciplined BAU development process that includes extensive interaction with the FLU model owners and stakeholders throughout the quantitative lifecycle.
• Infrastructure Partner in driving forward the infrastructure to support the goals of GRA through code efficiencies, and expansion of quantitative capabilities to better leverage infrastructure and computational resources.
• Documentation Deliver concise, quantitative documentation to inform stakeholders, meet policy requirements, and enable successful engagement in regulatory exams (e.g., CCAR, CECL) via automated, modularized, and standardized documentation and presentations.

Minimum Education Requirement: Masters or PhD in Computer Science, Engineering, Statistics, or similar discipline, and a minimum 2 year relevant experience.

Successful candidates will possess the following skills:

• Ability to work in a large, complex organization, and influence various stakeholders and partners
• Self-starter; Initiates work independently, before being asked
• Strong team player able to seamlessly transition between contributing individually and collaborating on team projects; Understands that individual actions may require input from manager or peers; Knows when to include others
• Strong communication skills and ability to effectively communicate quantitative topics to technical and non-technical audiences
• Experience with engineering complex, multifaceted processes that span across teams; Able to document process steps, inputs, outputs, requirements, identify gaps and improve workflow
• Strong programming skills, e.g. Python, R, or similar language
• Strong analytical and problem-solving skills

Preferred Programming & Analytics Experience:

• Strong Python development skills with experience leveraging AI/ML frameworks and software engineering best practices, including Git, CI/CD, and automated testing.
• Experience designing, developing, and maintaining scalable software applications, data pipelines, and processing solutions using Python, SQL, and distributed computing technologies in enterprise environments.
• Proven ability to translate business requirements and analytical models into production-ready applications, including consumer behavior, credit risk, and stress testing model implementations.

Skills:

• Critical Thinking
• Quantitative Development
• Risk Analytics
• Risk Modeling
• Technical Documentation
• Adaptability
• Collaboration
• Problem Solving
• Risk Management
• Test Engineering
• Data Modeling
• Data and Trend Analysis
• Process Performance Measurement
• Research
• Written Communications

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 informationPay range$89,800.00 - $155,000.00 annualized salary, offers to be determined based on experience, education and skill set.Discretionary incentive eligibleThis 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.BenefitsThis 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.