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 an 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.

Bank of America is committed to an in-office culture with specific requirements for office-based attendance and which allows for an appropriate level of flexibility for our teammates and businesses based on role-specific considerations.

At Bank of America, you can build a successful career with opportunities to learn, grow, and make an impact. Join us!

Job Description:

This job is responsible for designing and overseeing the implementation of common, reusable, and scalable software components. These components enable GRM’s data and analytical capabilities. These components can be domain independent (e.g., generic data quality tools over  billions of rows of data) or domain specific (e.g., classification models for surveillance or testing framework for Global Markets processes). Senior Quantitative engineers work with senior modelers, risk managers, and technologists to understand the current state and design the future state of data and analytics. Senior Quantitative engineers have a combination of software engineering, big data, modeling and management skills and the ability to work across the entire spectrum of a big data stack – from data to logic to model to UI to UX.

Responsibilities:

Seek opportunities for consistent improvement in quality, efficiency, and processes

Partner effectively with senior stakeholders within GRA & EIT, Front Line Units, Technology, Audit and Compliance

Provide leadership and oversight to less experienced team members

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

Team Overview:

Global Risk Analytics (GRA) and Enterprise Independent Testing (EIT) are sub-lines of business within Global Risk Management (GRM). Collectively, they are 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 and EIT partner with all the Lines of Business and Enterprise functions. GRA and EIT include vertical (i.e., business or risk-specific) functions and horizontal functions that cut across business and risk-types. A core pillar of our horizontal strategy is developing common, reusable, and scalable components that can be used across GRM. Quantitative engineers will be responsible for executing on this strategy.

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

High level of intellectual curiosity

Experience implementing strategic process improvements and/or automation

Proven track record of building relationships and effectively influencing key stakeholders

Adept at detecting and remediating organizational / process weaknesses and deficiencies

Feels ownership and accountability for delivering high quality work, able to balance multiple priorities and meet strict deadlines

Strong written, verbal, presentation creation and delivery skills, typically to very senior audiences

Well organized with attention to detail

Willing to challenge the status quo and with a track record of driving change

Minimum Education Requirement:

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

7+ years of relevant work experience

Qualifications:

At least 7 years of relevant experience in software engineering in Quantitative Finance or other industries

Strong Programming skills (e.g., Python) and solid understanding of Software Development Life cycle principles

Proven track record of seamlessly leading and executing enterprise-wide initiatives

The candidate must be a strong communicator and able to effectively explain the rationale and details of the methodologies to a broad set of audiences that include key senior stakeholders across the Bank, as well as auditors and regulators

Strong analytical and problem-solving skills

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.)

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

$125,000.00 - $210,000.00 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.